City of New Madrid buys riverfront property with eye on future industry

City officials describe it as another investment in the economic future of the community.

At the Sept. 26 meeting of the New Madrid City Council, the members unanimously approved a resolution authorizing Mayor Donnie Brown to sign a contract for the purchase of 40 acres by the city from Mississippi River Enterprises inc. The property located near the Missouri Conservation Department’s boat ramp on the Mississippi River was purchased for $1 million.

“The riverfront is a big draw. We couldn’t pass it up,” said City Administrator Richard McGill. “We have had businesses reach out to us in the past looking for property like this. We don’t have any proposed purpose. This is strictly future economic development.”

Although the land is wooded, McGill said, it was a good investment.

“Like the land we purchased in the past, I hope people will see that there was foresight in being able to draw industry into the community. We hope to see the fruits of economic development sprout up soon (from this).”

During the meeting, McGill also provided an update on the City’s effort to have an interchange along Interstate 55 at Route U. The City is currently working with an engineering company on the proposal.

“We think it is critical to get an interchange there. It would help industries locating along Highway U and would lessen traffic coming into town. It would expand opportunities to bring in more businesses and some type of tax revenue along with it,” the city administrator said.

McGill went on to describe the City Council’s efforts part of their growth mindset, pointing out they continue to work on providing more housing, improving services and creating jobs in the community. He said their goal is to

help the city of New Madrid grow.

Also attending the meeting was Michael Harrelson with CST-New Madrid, the commercial-scale waste-to-renewable-chemicals production facility planned at New Madrid. Harrelson stated the company has filed permits with the Department of Natural Resources and he expects that within 60 days they will start moving dirt at the site for the onset of construction.

According to Harrelson the company now believes it will need approximately 67 employees as it opens in 2023. This is an increase from the initial estimate of 50 employees.