As Boone County is considered by Schneider Electric as a location for a major expansion project, the State of Missouri is prepared to support the company to ensure its continued success. The company’s potential expansion at its existing Columbia facility would include the addition of a new warehouse and other improvements.
“We’re proud that a global leader in manufacturing like Schneider Electric is so strongly considering Missouri for such a significant investment,” said Governor Mike Kehoe. “This company’s interest in the Show-Me State is another example of our ability to support quality employers. We appreciate the contributions Schneider Electric has made to Columbia over the years and look forward to its continued growth in the area.”
Schneider Electric’s Columbia plant has manufactured industrial circuit breakers and circuit breaker accessories since 1978. Its potential expansion would increase the company’s storage capabilities to meet growing demand while bringing a $73.6 million investment and 241 new jobs to the community. The Department of Economic Development is among multiple organizations working to support Schneider Electric, which include the City of Columbia, Boone County, and Columbia REDI.
“Schneider Electric’s expansion in Columbia would serve as the latest chapter of its ongoing success story in central Missouri,” said Michelle Hataway, Director of the Department of Economic Development. “We’re ready to support this leading manufacturer alongside our partners as it considers our state as the location for this exciting project.”
To assist Schneider Electric in its potential expansion, the Missouri Development Finance Board (MDFB) approved the use of the Business Use Incentives for Large-Scale Development (BUILD) Program. The company will also benefit from the Missouri Works Program and Missouri One Start, the state’s premier workforce recruitment and training division.
Approved incentives amounts:
- BUILD Program - $2,000,000
- Missouri Works Program - $2,102,697
- Missouri One Start - $150,000
About Schneider Electric
Schneider Electric is recognized as a global leader in electrification, automation, and digitization.
To learn more about Schneider Electric, visit se.com.
About the Missouri Department of Economic Development
The Missouri Department of Economic Development (DED) works to create an environment that encourages economic growth by supporting Missouri’s businesses and diverse industries, strengthening our communities, developing a talented and skilled workforce, and maintaining a high quality of life. As one team built around the customer and driven by data, DED aspires to be the best economic development department in the Midwest. Through its various initiatives, DED is helping create opportunities for Missourians to prosper.
For the latest updates on DED’s current or future programs and initiatives, visit DED’s website.
About the BUILD Program
The Business Use Incentives for Large-Scale Development (BUILD) Program helps companies embark on major investment and job creation expansions. The program provides low-interest loans to qualified borrowers through the issuance of tax-exempt revenue bonds for the acquisition, construction, and equipping of qualified manufacturing production facilities and/or equipment.
About the Missouri Works Program
As the state’s number one incentive tool for expansion and retention, the Missouri Works Program helps businesses access capital through withholdings or tax credits to embark on facility expansions and create jobs. This program can also help businesses purchase equipment to maintain its facility in Missouri.
About Missouri One Start
Missouri One Start is the state’s premier workforce recruitment and training division. It helps eligible businesses of all sizes stay competitive by providing customized recruitment assistance, along with resources to train and upskill new and existing employees. Its recruitment strategies and training programs are tailored to the specific workforce needs of the businesses it serves.