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Business Programs Success Stories
Missouri
Business and Industry Guaranteed Loan Program
Outline of Need:
Poplar Bluff Industries was awarded a $7.3 million Business & Industry Guaranteed Loan to finance the expansion of the Nordyne plant in Poplar Bluff, Missouri. Nordyne manufactures HVAC equipment.
The Results:
The project resulted in the creation of 400 jobs and saved the existing 400 jobs at the plant, and directly assisted two businesses. Poplar Bluff is located in Butler County, a persistent poverty and high unemployment area.
Outline of Need:
Dexter Chamber of Commerce Development Inc. was awarded a $2.6 million Business & Industry Guaranteed Loan to finance the purchase and remodel of a manufacturing facility in Dexter, Missouri. The facility will be leased to ArvinMeritor, a manufacturer of automotive components.
The Results:
The project resulted in the creation of 259 jobs and saved the existing 185 jobs, and directly assisted two businesses. Dexter is located in Stoddard County, which is a high unemployment area.
Outline of Need:
Premier Foods Inc. was awarded a $4.5 million Business & Industry Guaranteed Loan to finance the purchase of a poultry processing plant in Milan, Missouri. The plant provides a co-packing process with ConAgra, which is a value-added process. Milan is located in Sullivan County, which is a persistent poverty area.
The Results:
The project resulted in the creation of 80 jobs and directly assisted both the borrower’s business and ConAgra, the plant’s supplier.
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