JONESBORO, AR (KAIT) - The former Nordex building will be sold later this week. This comes after the city agreed to terminate their lease agreement and Nordex agreed to pay off their remaining bonds.
Nordex was located out in the Jonesboro Industrial Park off of CW Post Road. They stopped production last year after they promised to bring 700 jobs to the city. At most, the company employed 50 people.
Jonesboro Mayor Harold Perrin explained at Tuesday night's city council meeting that once the bonds are paid off in full, Nordex will become the owner of the building.
It seems a new company is interested in the property but who might be headed to Jonesboro is unknown at this time.
"I know Mark's under confidentiality agreement and we understand that and we respect that," Perrin said.
Perrin, referring to Chamber of Commerce President Mark Young. Perrin said he hopes an announcement will be made soon on who will be moving in.
The total amount of the bonds Nordex has to pay back is $50 million.
Region 8 News will keep tracking this story and let you know once new developments arise.