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Presque Isle Industrial Council reports $1.33 million in 2025 income, 100% occupancy
Summary
Tom Powers, executive director of the Presque Isle Industrial Council, told the city council that the industrial park ended 2025 with about $1,327,612 in income, operating expenses near $47,000, and debt service of roughly $534,873; PIC reported full occupancy and plans for building rehabilitation and a spec building in 2026.
Presque Isle — The Presque Isle Industrial Council (PIC) reported a profitable 2025 and full occupancy at the city's industrial park during an annual presentation to the City Council on Jan. 7.
Tom Powers, PIC executive director, told councilors that PIC recorded approximately $1,327,612 in income for 2025 and exceeded projections by more than $100,000. He said operating expenses were approximately $47,000 and debt service about $534,873, and that PIC manages roughly 440 acres with tenant occupancy at 100 percent. Powers estimated the park supports roughly 820 jobs, excluding students and residents in campus housing.
Powers described capital reserve activity, noting a capital reserve appropriation of $188,000 and a future growth reserve of about $197,000 established by prior council action. He also said the railroad-track reserve grew by about $40,000 to roughly $193,000 and that seasonal storage revenues were about $114,000 in 2025.
On projects, PIC completed a remodel of one building to create office space, upgraded heating and lighting at tenant facilities, and advanced plans for a rehab of an 8,000-square-foot warehouse and a new spec building; PIC intends to bring any proposed major projects to the council for policy and funding alignment.
Powers characterized PIC as self-sustaining, with transparent accounting practices that include building construction debt. After his report, councilors asked clarifying questions about planned projects and timing; PIC described the 8,000-square-foot work as primarily cosmetic and interior office renovations rather than full structural rebuilds.
Powers's full remarks and the packet materials were presented during the Presque Isle Industrial Council annual membership meeting that recessed back into the council session.
