Hippos LLC purchases industrial park acreage, building from City of Vienna in $300K deal

By Laura Schiermeier, Staff Writer
Posted 5/13/20

VIENNA — The process for Hippos, LLC to develop a medical marijuana cultivation business in Maries County has moved further along with the recent sale of the land and spec building at the …

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Hippos LLC purchases industrial park acreage, building from City of Vienna in $300K deal

Posted

VIENNA — The process for Hippos, LLC to develop a medical marijuana cultivation business in Maries County has moved further along with the recent sale of the land and spec building at the Thomas Coffey Industrial Development Park off Highway V in Vienna.

At the Vienna City Council’s May meeting, Mayor Tyler “TC” James confirmed the city had sold “all that we owned” at the industrial development park to Hippos, LLC for $300,000 with the city financing it. The city closed on the deal on April 27 and all of the paperwork has been signed and filed. The deal includes the spec building at the northern end of the property, which was built in speculation of a wood treatment plant locating there. This did not happen. Later there was talk of a hog processing plant coming to Vienna and locating there, which was met with resistance. City officials said Hippos, LLC also is buying 16 acres of land the city-owned in the industrial park. The purchase did not include the old Wow Pizza building, however, as that is privately owned.

The mayor said their contact, Hippos, LLC CEO Nicholas Rinella, said as far as the new business locating to Vienna, things are moving along and he thinks they are further on this project than some of the other entities that were awarded licenses by the state. There are details and paperwork to do but it is moving forward.

Mayor James said he thinks it was a fair deal between them. He added he doesn’t think the city could have sold the building and land to anyone else for that amount and Hippos, LLC probably could not have built the facility they need for $300,000 either.

The city council members see the medical manufacturing facility in Vienna as a “win-win,” saying the city can’t lose with the development of new, good-paying jobs and a new business moving to town.

Hippos, LLC has plans to expand at the industrial park and with the 16 acres of land they will have room to do it. Mayor James said it was one of the reasons Hippos, LLC was drawn to the Highway V location. Another reason is the business will benefit from the lack or red tape and regulations in a small town.

South Ward Alderwoman Brenda Davis said it took a lot of back and forth to get this done, but in the end the council’s purpose going forward was to bring decent jobs to the community. The number of jobs this new industry will create will depend on whether or not Hippos gets a second license.

Mayor James said the council tried to set a minimum rate of pay for the people who will work at the facility but Rinella would not go for it. The CEO said the pay would be competitive and they will pay what people will work for. Davis said the employees will be well-vetted with background checks required to work there. James said the coronavirus slowed things down with getting the paperwork lined up.