ELDRIDGE, Iowa (AP) — Leaders of the Quad Cities suburb of Eldridge are moving forward with plans to create a commercial and industrial park in the hopes of attracting new employers and lowering property taxes.

The proposed 500-acre (202-hectare) site is mostly privately-owned farmland located between Eldridge and the Eastern Iowa Industrial Center in north Davenport, the Quad-City Times reported.

Eldridge has been working with Quad-Cities First, the economic development arm of the Quad-Cities Chamber of Commerce, to pursue site certification through the Iowa Economic Development Authority. Officials are also working to market some of the parcels that are available in the future business park.

"A lot of work goes into looking at it for a certified site," said Liz Murray Tallman, chief economic development officer for Quad-Cities First. "But it is just the perfect location for the next big one (industrial park)."

The Industrial Center is running out of large-sized tracts to attract another major development, Eldridge Mayor Marty O'Boyle said. Sterilite and Kraft Heinz recently constructed plants at the center.

With the opening of the plants, city officials expect satellite suppliers for the companies to seek locations.

"We haven't seen any move in yet," said James Martin, Eldridge's assistant city administrator. "It usually takes five years for them to pop up, and we're going to be ready for them."

City officials have already met with many of the landowners near the proposed industrial park.

"It's been pretty positive," said Martin. "We've heard back from most the owners who said they'd be interested in learning more."

He said that some land owners also indicated that "if approached by a potential buyer they'd be interested (in selling)."

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Information from: Quad-City Times, http://www.qctimes.com