State awards grant to New Madrid County

NEW MADRID - The Missouri Department of Economic Development has approved a state grant that will aid New Madrid County in making infrastructure improvements required to assist a large agricultural commodity processor expand its operations.

The department approved an $80,000 grant through the Community Development Block Grant Program for water main improvements to accommodate the expansion of Archer Daniels Midland Company (ADM). As a result, the company will invest $7 million and create eight new full-times jobs within two years.

"Through the CDBG Program, the department partners with our smaller rural communities to build the appropriate infrastructure so the local business community can grow," DED Director Greg Steinhoff said. "We are excited that New Madrid County officials will improve infrastructure at the port, which will result in new jobs, greater investment and added value for the region's agriculture industry."

The CDBG funds will be used to help the county construct new water and sewer lines, which will service ADM company employees, customers, as well as any potential future economic development projects. The improvements will also provide potential fire hazard protection. The New Madrid County Port Authority will be responsible for the operation and maintenance of the water and sewer lines.

Decatur, Ill.-based Archer Daniels Midland is one of the largest agricultural commodity processors in the world with 700 facilities and sales offices in 60 countries. ADM is constructing a new port facility in New Madrid, including a grain elevator and harbor improvements. It plans to receive corn, soybeans, milo, wheat and rough rice delivered by truck and will ship these commodities to other markets by barge. According to the grant application, the company chose to expand this site due to increased grain production in Southeast Missouri, the existing harbor and the fact that elevation there is above the 100-year flood level.

In addition to the CDBG grant, matching funds for the project will also come from the Delta Regional Authority. The port is also seeking capital improvement grants to provide adequate drainage and pave roads in preparation for increased truck traffic that will result from this project.

The grant was made under the Community Development Block Grant program, administered by DED. Funds will be released to New Madrid County as certain requirements set forth by the program are met. The program provides economic development grants and loan funds to cities with a population under 50,000 and counties under 200,000 to assist in the location of new industry and the expansion or retention of existing businesses.