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A $100 million industrial facility could be coming to Cherryvale.

At last night's Cherryvale City Council meeting, a contract was ratified for the sale of just over 65 acres of land on the north side of town for a technology-based facility. 

City Administrator Michael Hall says the buyer is backed by multiple national investors that have yet to create a name for the company. The deal involves a five-point conditional agreement, and gas and electric requirements are the last two points to be met. 

The company is expected to bring 18 to 20 jobs to the area with an average salary of $70,000.

The land will be sold at $9,000 an acre.