Sikeston Council hears proposal for a new industrial park

SIKESTON, Mo. -- A new industrial park is under consideration by Sikeston's city council.

During Monday's regular council meeting, a bill was read for the first time proposing the purchase of a 265.32-acre tract, just south of the Sikeston city limits along U.S. 61 in New Madrid County. The land, owned by Boyer Leasing Inc., would cost $3.18 million.

Mayor Steven Burch spoke briefly about the funding of the purchase. According to Burch, when the Brown Shoe Co. building was donated to the city, Sikeston was able to sell the site for $2.4 million. These funds were used to acquire railroad right of way and the Village Green property, which also was sold at a profit.

"A good deal of the money going toward the purchase of the land is from these land sales," Burch said. "This is economic development money, not taxpayer money."

City attorney Chuck Leible said about half of the cost of the purchase would be paid through those economic development funds while the other half would be with a loan. Leible said he and city manager Jon Douglass will talk with local banks and return to the council with various financing options.

City officials said the cost to service the loan would be covered by the farm and crop rent along with leases, adding the city's funds would not be affected by the purchase.

Mike Marshall, Sikeston new economic development official and Regional Chamber director, used several maps to explain the need for the new industrial park.

Starting with the city's current industrial park, on U.S. 61 North, Marshall pointed out the remaining tracts available. He noted the largest tracts remaining are 62 and 67 acres, with several smaller tracts located in various areas.

"It is pretty chopped up," Marshall said. "There are still a couple of real nice properties left but it is getting full out there."

Marshall told the council the city needs additional property to market.

The Boyer property, Marshall said, is perfect for industrial need. He pointed out the acreage is flat and close to highways and a railroad.

"For the city to have the opportunity to market 265 acres in this location with all the amenities, it makes this a very attractive property for the city to attract an industry. It is large enough to attract a major-size manufacturing company, major-size distribution company or several," Marshall said. "This would give us the opportunity to go after a big fish.

"From personal experience and my travels, I have seen what other towns have to offer as far as industrial-development opportunities. I don't think I have seen anything more perfect than this situation we have right now," Marshall said. "I'm proud to have the opportunity to market it."

The second reading of the bill and a vote on the proposed industrial park is set for the council's reorganizational meeting at 8 a.m. April 17.

Pertinent address:

Sikeston, Mo.