An out-of-state manufacturing company’s plans to relocate to Hannibal have slowed, according to George Walley, executive director of the Northeast Missouri Economic Development Council (NMEDC).
Walley reported at the NMEDC’s January meeting that the company has “slowed its time line down a little.”
The company told Walley earlier this month that it is reassessing the current economic environment in light of last November’s election outcome.
“They may not make a decision for several more months,” wrote Walley in a memo to his board.
The company, which Walley said is currently located “within 100 miles of Hannibal,” continues to be successful despite the sluggish economy.
“They’re doing very well and need to expand,” he said.
Since at least last year the company, whose identity has never been made public, has shown interest in the former DURA North building in southern Hannibal, near U.S. 61. The 107,000 square foot facility has stood idle for over four years.
According to Walley, company representatives took another tour of the site in late November.
In addition to the former DURA North building, Walley has also suggested to company officials that they consider building in the city’s empty industrial park, located adjacent to Highway MM, west of the city.
“Since their plans have slowed down I’m proposing it again,” said Walley.
On another front, Walley reported that last month the state finalized its incentive package to the company. Specific details regarding what is being offered have not been made public.