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The owner of a closed Colgate-Palmolive Co. toothpaste factory along the Ohio River plans to sell it at auction this fall.

Clarksville town officials hope the sale will spur redevelopment of the 59-acre site that has gone unused since the factory shut down in 2007.

Town redevelopment director Rick Dickman says he hopes the Oct. 15 auction will put the property in the hands of new developer since New York-based Active International hasn't done anything with it after buying the site in early 2009.

The factory is known for its landmark 40-foot-diameter clock and local officials have hoped to transform the site into a commercial area, possibly with stores, offices, motels and condominiums.

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