Written by Darren Hayunga, assistant professor in the department of insurance, legal studies and real estate in the Terry College of Business
Today on the New Faculty Tour we visited the Kia plant in West Point. In addition to the incredible technological achievements, as a real estate professor, I found the initial process of obtaining the land to be remarkable. Thirty-two land owners came together to provide a contiguous parcel on which Kia and their four direct suppliers built their facilities.
Potentially the state could have claimed eminent domain - but the claim is tenuous because the project is not for a highway or traditional public project. There is a case out of Connecticut that went to the Supreme Court in which the local government used eminent domain on a non-traditional project, but this could have certainly started the project off on the proverbial wrong foot. Instead, the landowners created a legacy that has been a tremendous economic benefit for the entire state.
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