0
Home
News
Directory
E-newsletter
Magazine
Events
Data
AgReport
Subscribe
Bayer plans $42.7 million expansion of its fungicide manufacturing facility in Kansas City
Aug. 6, 2018
Bayer Crop Science is planning a $42.7 million expansion of its manufacturing facility in Kansas City, and the company wants the city to issue $25 million of industrial revenue bonds to help finance the project.
A plan filed by Bayer calls for an expansion to house production of fluopyram, a fungicide that combats diseases that affect a variety of plants.
Bayer plans to complete the expansion in 2019. It would not create new jobs, according to the company’s filing, but it would enable the retention of 100 jobs with an average wage of $100,000.
According to the plan, the city would issue $25 million in taxable industrial revenue bonds to help cover the cost and installation of the new machinery in the expansion. The city would own and lease that equipment to Bayer for 10 years until the company buys it.
The other $17.7 million needed for the project would be financed by other sources and would go toward construction and renovation.
The issue was on the proposed agenda for last Wednesday afternoon meeting of the Kansas City Council’s Planning, Zoning and Economic Development Committee. If the measure is approved by the committee, it would move to the full council.
Source: Missouri Business Alert
More from AgroNews
Change
Hot TopicSubscribe
| Subscribe Email: | * | |
| Name: | ||
| Mobile Number: | ||
Comment
0/1200
NEWSLETTER