Glendale-Based Land Development Group Pursued Deal that Will Bring Jobs and Clean Tech Innovation to the Community
PHOENIX, April 8, 2022 /PRNewswire-PRWeb/ -- The Mangat Group, a Glendale-based land development group, announced today the closing of a land deal with leading U.S.-based battery developer, KORE Power. The lithium-ion battery manufacturer plans to build KOREPlex, a two million-square-foot lithium-ion battery manufacturing facility, on the 214 acres located on State Route 85 and Baseline Road in Buckeye, Ariz.
Tony Mangat, founder of The Mangat Group, first purchased the property in December 2020 with the hopes of finding a buyer who would use it to support the community., Despite receiving higher offers, Mangat's discussions with KORE Power led to confidence that the project will drive positive economic development.
"This new battery facility is for the greatest good for the community," says Mangat. "KORE Power will provide multiple job opportunities for local residents, especially as the city continues to grow. A large employer like KORE Power allows residents to cut their commute, creating a more sustainable, affordable and convenient lifestyle, and further advancing sustainability efforts."
According to KORE, the company plans to have about 3,000 employees at full annual production. The project is expected to generate approximately 10,000 indirect jobs for the city of Buckeye.
"The KOREPlex project will cement Buckeye's position as a leader in cleantech as our highly trained employees deliver the battery cells that will form the backbone of the green economy across the United States and the globe," said Lindsay Gorrill, Founder and CEO of KORE Power.
KORE's battery manufacturing facility is just one piece of Buckeye's sustainability goals and industrial growth. The facility is part of a much bigger initiative known as the Sustainable Valley, an area to be used to attract other green energy companies.
"Buckeye is proud to be emerging as a leader in green energy, with KORE Power leading the way," said Buckeye Mayor Eric Orsborn. "The opportunities for additional, clean energy companies relocating along the SR 85 Corridor, around the Buckeye Municipal Airport and in our downtown core are endless. Buckeye provides many benefits to sustainable industries, including a strategic location with available sites, efficient and cost-effective transportation options, and a high quality of life. The city would also like to thank Mr. Mangat for his time and efforts in bringing KORE Power to Buckeye. His commitment to the project ensures the Sustainable Valley becomes a reality."
For more information about The Mangat Group, please visit http://www.mangatgroupinvestment.com.
ABOUT THE MANGAT GROUP
The Mangat Group is a Glendale-based trucking company founded by Tony Mangat. With zero real estate experience, Mangat first began developing storage centers and truck stops in Arizona, as he himself is a truck driver. He was very successful and quickly began to grow his portfolio, now owning roughly 1,000 acres in the Phoenix-metro area. He is a philanthropist and is passionate about giving back to his community.
Media Contact
Lisa Sass, Serendipit Consulting, 602.283.5209, [email protected]
SOURCE The Mangat Group
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