Site Locator

Wal-Mart Good Works Contribution for MAEDC

According to Corey Mehaffy, President of Moberly Area Economic Development Corporation, the Moberly Wal-Mart Distribution Center 6077 recently provided a special contribution in support of MAEDC’s ongoing technology enhancements.

Read more

Department offers $11 million in funding

News Release 309

Department offers $11 million in funding
for Energize Missouri Industries

First in Missouri Economic Development

Chariton County Leads the Way

Hampton Alternative Energy Products, recently held their ground breaking ceremony on a new electric generation plant in Triplett Missouri. Jimmy Daniels, Secretary/Treasurer of the Hampton Corporation said that manure will be collected from 2,400 head of cattle and made into methane gas which will be captured and run through a generator set to produce electricity. The electricity will be used to power the Hampton operation with excess electricity being sold to Kansas City Power and Light. The process will also produce a byproduct similar to peat moss which will be marketed. The project involves a $4.5 million dollar investment and is expected to create six new FTE jobs over the next four years. Daniels added, “The project will help the environment and we just think it’s the right thing to do.”

According to Corey Mehaffy, President of Moberly Area Economic Development Corporation, the Hampton project is very exciting for Chariton County. Mehaffy said, “This is exactly the type of project the Commissioners and MAEDC envisioned for the County when we established our partnership in 2009. This is one of the first projects of this type in Missouri, and Chariton county is leading the way.”

Read more

Creation of 800 New high-tech Jobs in Columbia

Gov. Nixon Announces Creation of 800 New high-tech Jobs in Columbia

Funding Approved for Hampton Alternative Energy

Moberly, MO. – The Missouri Department of Economic Development has announced approval of state tax credits for a Triplett business under the Enhanced Enterprise Zone (EEZ) program to assist in the creation of new jobs and investment in Chariton County. Hampton Alternative Energy Products, LLC an affiliate of Hampton Feed Lot, Inc has been approved for $119, 204 in EEZ tax credits over a five-year period.

According to Corey Mehaffy, President of Moberly Area Economic Development Corporation, the Hampton project is very exciting for Chariton County. Mehaffy said, “This is exactly the type of project the Commissioners and MAEDC envisioned for the County when we established our partnership in 2009.” Mehaffy added, “One of our first tasks in our efforts in Chariton County was to establish a County-wide Enhanced Enterprise Zone in an effort to both attract new business investment to the County as well as encourage existing businesses to expand their operations. The Hampton project is the first to receive benefit under the EEZ program in Chariton County and I am excited about the activity we are experiencing in the County.” Chariton County Presiding Commissioner Tony McCollum added, “The Hampton project is an example of the importance of having an active economic development effort for the County as well as having key economic development tools like the EEZ in the toolbox. This is yet another example of growth that can occur when the public and private sectors work together to create new investment.”

Read more

Help available from MAEDC in challenging times

Help available from MAEDC in challenging times

The economic conditions are still challenging, but Randolph and Chariton County businesses and entrepreneurs have a resource in the Moberly Area Community Development Corporation (MAEDC). While it is often the highly competitive area of landing new businesses that garners attention, much of the work and emphasis of the economic development group is on business retention and expansion.

The MAEDC, organized in 1988, seeks to promote business growth and investment in the area. After originally serving Randolph County, it expanded in 2009 to include Chariton County. It is financed through investments from a mix of public and private sources, including the City of Moberly, Randolph County, Chariton County, about 50 private businesses and organizations and the individuals who make up the Industrial Club. A 10-person Board of Directors governs the agency.
MAEDC President Cory Mehaffy said the agency has three primary tasks. They include business retention and expansion, bringing in new businesses and working with local entrepreneurs.
Mehaffy said the MAEDC meets with the largest employers in the area at least a few times each year, checking to see what each business is dealing with, to see if his group can help the business and to see if the business is happy with the services provided by the MAEDC.
Mehaffy said his group is currently seeking to help in the Matcor Automotive Inc. situation. There are reports that this plant, which employs about 105 people, is closing down in June. Mehaffy said it is not certain the plant will close entirely, and he has contacted Matcor about taking a group of MAEDC representatives and local officials to Matcor’s corporate headquarters in Michigan to discuss the importance of these jobs and this investment in Moberly.

Mehaffy said this would be an opportunity for the community groups to show that it supports Matcor’s investment in Moberly, and that local Matcor officials were currently discussing the idea with their corporate headquarters.
As far as bringing in new businesses, Mehaffy said his group has had a lot of success with site visits, where a company visits the area to see if it wants to invest in facilities here. Mehaffy said the goal of this is to “introduce them to the market.” The MAEDC has had success in this area, with over 20 golden shovels on the walls of its conference room, each representing the groundbreaking of a new business since 1992. Last fall, the new Lowe’s store opened in Moberly, and earlier in 2009, Stark Bro’s Fulfillment opened a call center in Moberly.

Mehaffy’s group partners with other area agencies to pool resources and efforts in helping area business grow. The MAEDC partners with the Moberly Area Community College, the Regional Planning Commission, and the University of Missouri Extension’s Small Business and Technology Development Center. MU Extension’s Business Development Specialist Chris Shoemaker works at the MAEDC office two days a week. At the state level, the MAEDC works with the Department of Economic Development and other state and federal business agencies. The MAEDC also partners with multiple regional and local agencies, which can pool resources to be more efficient at things such as workforce training and advertising the community for investment.
The MAEDC also provides demographic information for area businesses. Mehaffy said the group is currently updating its survey information about how Moberly looks as a retail market. His group also provides information on government services available to local businesses.
The economy will almost always offer challenges, but the MAEDC tries to provide solutions and help to meet these challenges.

Small Business Opportunity Workshop Scheduled in Moberly

   Small Business Opportunity Workshop scheduled in Moberly

 The nation’s top small business resource providers will hold a Small Business Opportunity workshop in Moberly on Wednesday, July 28^th for Randolph County’s small business owners and entrepreneurs to highlight the American Recovery & Reinvestment Act of 2009. 

The workshop is free, beginning at 1:00 p.m. at the Moberly Area Community College’s Activity Center.

 Presenters include the U. S. Small Business Administration, U S Department of Commerce, Missouri’s Small Business & Technology Center, the Missouri Procurement Technical Assistance Center, the Missouri Department of Economic Development’s Office of Trade and Investment, the SCORE Association and the Moberly Area Economic Development Corporation.  Area commercial lenders willing to lend to expanding or start-up businesses have been invited to participate in this small business workshop as well. 

Opportunities to be discussed include:

         SBA-guaranteed loans and revolving lines of credit;·         Export finance and international business opportunities;·         How to reduce risk when selling your product or service in foreign markets;·         Selling your product or service to the Government;·         The U S Department of Defense’s Central Contractor Registration;·         The U S Small Business Administration’s Dynamic Small Business Search engine;·         And many more.

 To reserve a spot at this event or questions, please call 660-263-5863 extension 1 or 2. Previews of the workshop topics are available at the following websites:

SBA - http://www.sba.gov/;

Export Finance & Opportunity - http://www.sba.gov/aboutsba/sbaprograms/internationaltrade/index.html;

 Reducing Risk - http://www.sba.gov/idc/groups/public/documents/sba_program_office/oit_sba_fast_facts.pdf;

 Selling to the Government - http://www.sba.gov/hubzone/;

The CCR - https://www.bpn.gov/ccr/default.aspx;

SBA’s DSBS - http://dsbs.sba.gov/dsbs/search/dsp_dsbs.cfm.

 Editors Note: Members of the media may call Bob Newman at 636-358-5941 with questions, or are welcome to attend. For more information about the Recovery Act and small businesses, visit the SBA Web site at: http://www.sba.gov/recovery/index.html.  

Local officials testify for Thomas Motors at hearing

Local officials testify for Thomas Motors at hearing

Three local officials testified at Thomas Motors’ binding arbitration hearing with General Motors last Wednesday at the Comfort Inn in Columbia. The hearing is to determine if Thomas Motors can keep its GM franchise agreement.
Moberly City Manager Andy Morris, Randolph County Commissioner Wayne Wilcox and Moberly Area Economic Development President Corey Mehaffy testified in support of Thomas Motors retaining its GM franchise. Rex Gump, attorney for Thomas Motors, invited the three to testify about the economic impact the dealership has for the community.

Read more