An out-of-state manufacturing company is pondering a move to Hannibal.
An out-of-state manufacturing company is pondering a move to Hannibal, according to George Walley, executive director of the Northeast Missouri Economic Development Council.
"It's a very established company," said Walley, who at the firm's request would not reveal its identity. "It's very successful at what it does."
Walley says that its business is so good that the company is running two shifts at its current location.
Company officials are currently compiling financial figures so they can compare the cost of moving and staying put.
"They're working through their numbers. There will be some substantial costs involved," said Walley. "They're weighing all their options."
If the business does decide to relocate, there is a chance it would put down roots in the former DURA North building in southern Hannibal, near U.S. 61.
"They like the building," said Walley, noting that the 107,000 square foot building, which has stood idle for over three years, would require some "substantial alterations" inside. "I thought it might be too much building for them, but it doesn't appear it is."
If the company does move to Hannibal, it would not be purchasing the structure, which was purchased in May of this year by developer Tom Marx. During this week's meeting of the local Economic Development Council Walley reported that Marx is prepared to invest additional money in the building to meet a new tenant's needs. In April it was reported that the structure needs some roof work. At the time cost estimates for the repairs were as high as $500,000.
Although DURA ceased production in the building in late 2008, the site has not been abandoned. It has been used as a warehouse, which required that it be winterized and the power be left on. One product that has not been stored at the site is fireworks. Walley put that rumor to rest during the August meeting of the Economic Development Council.