USA — The Hannibal City Council has taken significant steps towards the expansion of the General Mills facility, approving a 10-year, 50% property and personal property tax abatement during a meeting on Tuesday.

This decision marks a pivotal moment for the local economy, as the project aims to add a substantial 15,000 square feet to the existing facility located at 1 Red Devil Road.

The expansion will not only increase the physical footprint of the plant but also enhance its production capabilities.

All building materials required for the expansion will benefit from a 100% sales tax exemption at the city, county, and state levels.

The financial implications of this project are expected to be far-reaching, as it will bolster job creation and economic activity in the region.

Maria Kuhns, the executive director of the Hannibal Regional Economic Development Council, expressed enthusiasm about the project, stating, “The city is really excited about the project and really excited about making it a reality. We’ve been working with our state partners, and there will be more information to come in the next couple of months.”

This sentiment reflects the optimism surrounding the potential growth and stability that General Mills brings to Hannibal.

As part of the expansion process, the council also issued a preliminary declaration of intent to facilitate the issuance of bonds for “Project Laurel” on behalf of General Mills.

Importantly, the city will not be liable for the debt incurred; instead, it will act as the lessor of the new property, with General Mills’ payments being used to service the bond.

This arrangement allows the city to secure a more favorable interest rate than what General Mills could achieve independently, further enhancing the financial viability of the project.

By Missouri law, the city’s special legal counsel, Gilmore and Bell, will prepare a cost-benefit analysis and an industrial development plan.

This analysis will be shared with all affected tax bodies at least 20 days before the final council approval of the bond, ensuring transparency and community involvement in the decision-making process.

In addition to discussions about the General Mills expansion, the council also addressed an amendment to the current ordinance banning fireworks.

Third Ward Councilman Robert Koehn voiced his concerns, stating, “I think [the current ordinance] is a disservice to the citizens of Hannibal. Everyone else in Marion County can shoot off fireworks on the Fourth of July, but no one in Hannibal can do it.”

The proposed amendment would allow residents to use fireworks without a license from July 3 to 5, along with specific exemptions for licensed pyrotechnic displays.

However, Mayor Barry Louderman and other council members raised concerns regarding the potential for large aerial fireworks to be used without restrictions.

Louderman noted that sensitive facilities, such as nursing homes, could be disrupted by nearby fireworks.

As a result, the council decided to table the amendment to allow city administration to consult with local fireworks vendors about necessary restrictions.

The decisions made during this council meeting reflect a proactive approach to economic development while balancing community safety and interests.

The expansion of General Mills is poised to create new opportunities for residents and solidify the company’s longstanding presence in Hannibal, which has been a cornerstone of the local economy

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