3M Nevada facility candidate for expansion

Editor's note: This is the third of a three-part series on local manufacturer 3M, following a recent information session and tour for local lawmakers and business officials.

Nevada Daily Mail

3M Nevada is considering an additional expansion to its facility in the "near future" that could translate to an additional 18-22 jobs.

A group of local business and government officials learned of the development during a recent tour of the facility.

Plant Manager R. Todd Cantrell noted that the Missouri Economic Development tax credit for new investment would help with the expansion, if the company decides to move forward with that plan.

"We certainly appreciate that," he said, addressing State Rep. Randy Pike, who was among those in attendance.

"And there is the possibility of some chapter bonds through the city," he added that could be applied for in the eventuality that Nevada is selected.

The tour group also included Julie Lewis, Nevada city manager executive assistant for community enhancement.

"We expect another fairly sizable investment in the near future," Cantrell said.

3M has had several expansions during its history in Nevada. After selecting the town as a plant location in 1966, construction started in 1970, with the plant operations beginning in 1971.

The first expansion came in 1975, with subsequent add-ons in 1980, 1992, 1996, 1998, and the last in 2000.

This latest expansion would be, "more of what we're already doing but also with some new innovation," said Marilyn Schullo, 3M manufacturing director for the commercial graphics division.

"Nevada is a candidate site," for the company's addition, she said.

To be selected, a detailed proposal has to be made to the 3M Investment Board.

Board members want to know "what's the business climate like," in the area, "and what the incentives are," she said.

Cantrell noted that the plant was facing a challenge in the recent property tax discussions with the county.

"In 2011, we had a $9 million assessed negotiated value. In 2013, they're saying that's $11 million. That's a 23 percent increase, with no changes to our property."

Cantrell said the increase comes at a time when "the asking prices for industrial property in Missouri have declined 9 percent. And large owner-occupied manufacturing facilities have declined more significantly than that. Overall, the industrial market has declined due to lack of demand."

Cantrell said 3M's own assessment was in the $3.2 to 4.4 million range.

"We want to pay our fair share."

Even with that issue, 3M officials remain optimistic regarding the Nevada plant and its future.

"We've got some exciting things going on here," said Cantrell.