Officials are celebrating the sale of federal land east of Oak Ridge National Laboratory that could be used to help an industrial company expand.

The 20-acre parcel had been owned by the U.S. Department of Energy in Oak Ridge. The property is adjacent to the Bethel Valley Industrial Park in south Oak Ridge and west of Protomet. The company had sought the property for a planned expansion.

The parcel was sold to the Oak Ridge Industrial Development Board, or IDB, on October 20.

The IDB, which served as a conduit, then sold the land to Protomet. The company is evaluating the site as one option as it plans for a $30 million expansion that could add 200 jobs over a five-year period. [Read more…]