BUCKSPORT – The town is wrapping up the details of a deal to purchase additional land that would allow it to expand the industrial park on Route 46.

The town and property owner John Wardwell have agreed on a price for the property, according to Town Manager Roger Raymond. Although Raymond would not discuss the agreed-upon price at this time, he said town councilors had earmarked $100,000 for the purchase.

The town plans to purchase 20 acres and to establish seven new lots as an extension of the existing Buckstown Heritage industrial park located on Route 46 just a short distance from the intersection with Route 1. Engineers from Millett and Associates are inspecting the property to determine the best location for the lots on the property, Raymond said Monday.

“We need to figure out how they will be located on the site so that we can avoid any wetlands on the property,” he said.

Any impact on wetlands could trigger the need for state environmental permits, he said.

The owner has cut over the property, which has helped in locating the wetlands, he said. Engineers are also doing some testing for ledge at the site so they can avoid ledge when they lay out the lots.

The lots will be a minimum of 2 acres, which, with seven planned for the site, adds up to 14 acres. The rest of the acreage will be allocated for roads and utilities, Raymond said.

The industrial park has been a potent economic engine for the town. The town purchased seven lots in the park from the owner and established a program to provide free land to businesses willing to move to the park and create new jobs. Five of the town’s seven lots have been sold, and according to the town’s economic development director, David Milan, the town will continue the free land program with the new lots.

“It’s worked out well for the town and for the businesses,” Milan said. “It gives a business instant equity in a property. And it encourages business growth in the community and it creates jobs.”

Since the industrial park opened, businesses in the park have created about 66 new jobs in the town, Milan said. About three-quarters of those jobs have been created on the town lots, he said.

The land deal should be completed by the end of September. Although the town is developing the plans for the expansion and the needed infrastructure, it will not develop any lots until there are businesses ready to move onto them.