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The city of Levelland, Texas, recently announced plans to develop an $8.6 million industrial rail park. To include 300 acres for new businesses, the park is projected for completion next year.

The project will be funded by $3.3 million in federal stimulus dollars and $1.5 million from a local economic development group’s cash reserves. The city also will obtain a $3.8 million loan through a bond sale.

Railroad Specialties Inc. will install more than 21,000 feet of 132-pound rail and concrete ties in the park, which will feature 18 lots and provide direct access to a nearby rail line.

Four new businesses already have expressed interest in relocating to Levelland once the park is complete, city officials said in a prepared statement.