Modine proposes 65,000-square-foot expansion, council backs staff to pursue Chapter 100 tax abatement
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Summary
The council authorized staff to pursue Chapter 100 tax abatement for Modine Manufacturing's proposed $45 million expansion that would add roughly 65,000 square feet and create about 200 jobs, approving a resolution directing staff to negotiate the incentives package.
Jefferson City council voted to authorize staff to pursue a Chapter 100 industrial development incentive for an expansion by Modine Manufacturing that company and economic-development officials say would add roughly 65,000 square feet to Modine’s existing facility and support the purchase of new machinery and equipment.
The council adopted a resolution instructing staff and the city’s economic development contractor to work on details of an industrial development revenue bond / Chapter 100 incentive package for a project the city and its partners estimate at approximately $45 million. Missy Bono, vice president at the Jefferson City Regional Economic Partnership, told council members the investment is driven by demand from large data-center customers and would create about 200 new jobs while supporting training and retention of existing employees.
The resolution does not itself grant a tax abatement; it authorizes staff to finalize terms and return a bill for council approval. City staff said the Chapter 100 process can take several months, and that final deal terms, public hearings and a final council ordinance would follow the negotiation steps the resolution authorizes.
Council members described the project as a significant economic development opportunity for Jefferson City and congratulated the company for its long local presence. The resolution passed on a recorded vote.