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Hannibal Courier - Post - Hannibal, MO
  • Enduro Industries expanding again

  • Enduro Industries is expanding its operations in Hannibal again. That good news was announced during Wednesday morning’s meeting of the Northeast Missouri Economic Development Council (NEMO EDC) at city hall.
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  • Enduro Industries is expanding its operations in Hannibal again. That good news was announced during Wednesday morning’s meeting of the Northeast Missouri Economic Development Council (NEMO EDC) at city hall.
    Enduro, which is making a capital investment of $3.1 million at its local site, will be adding 15 new jobs in the initial year of the expansion. That total will grow to 24 positions by the expansion’s fifth year. The average salary of the new jobs will be just under $28,000 in the initial year. The average salary will grow to $31,500 by the expansion’s fifth year.
    The process of hiring workers has reportedly already begun with the expansion expected to be in production by the end of September.
    Enduro, located at 2001 Orchard Ave. in Hannibal, currently employees 76 individuals.
    “This will be their second expansion in a couple of years,” said George Walley, executive director of the NEMO EDC.
    The expansion involves the chrome plating production portion of the local plant, made possible through an “asset acquisition of an out-of-state competitor,” according to a letter from David McDonald, division controller for Enduro Industries.
    Enduro has already applied for and received state approval for incentive benefits under the Missouri Works Program. That program requires at least $100,000 in new capital investment within two years, the creation of at least two jobs and the average wage paid by the company meet or exceed 80 percent of the county’s average wage.
    Walley explained that Enduro will receive state incentives as the new jobs are created.
    “Nothing is received up front,” he said.
    On Wednesday, the NEMO EDC voted unanimously to certify Enduro’s project as being eligible for the Hannibal Board of Public Works’ New Load Discount Program.
    The BPW Board began offering an incentive program for water and electricity to qualifying industrial customers in 2011. Bob Stevenson, general manager of the BPW, said Wednesday morning that Enduro had previously qualified for BPW’s incentives. Stevenson added that Enduro’s expansion qualified because it will both increase its electrical load and create jobs. The company estimates its two chrome plating tanks and supporting equipment will generate a new electric load of 1,245,000 KWH.
    “These rate incentives will help Enduro Industries to continue improving its competitiveness and growth in the domestic and world markets,” wrote McDonald.
     

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