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DANNY HENLEY/COURIER-POST FILE
Interest in the Hannibal area among manufacturers is on the rise, according to George Walley, executive director of the Northeast Missouri Economic Development Council. One major marketable property in Hannibal is the former DURA North building.
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Hannibal, MO
Among those with a finger on the pulse of the local job market is George Walley, executive director of the Northeast Missouri Economic Development Council. Walley recently reported that heartbeat is quickening.
Walley told council members that he believes the local job outlook is brightening.
“I’m extremely optimistic about new jobs in the area in 2012,” he said. “I wouldn’t use the word ‘optimistic’ if I wasn’t very hopeful.”
What has Walley so upbeat? Apparently since November Walley has regularly been fielding phone calls from manufacturers outside the area who are interested in moving to Northeast Missouri.
Walley also has been in contact with manufacturers already in the region who are in different phases of expansion. Some will be physically adding space to their plants. The expansion of others will take the form of adding shifts and hiring additional worker.
Earlier this month Walley reported showing the DURA North building to a manufacturer, who had previously shown no interest in the facility, where production ceased in late 2008.
“They said they wanted to bring an expansion to the Hannibal area,” said Walley, without revealing the identity of the firm.
Frequently potential suitors for the DURA North building shy away because of its space - 100,000 square feet.
“Everybody who looks at it says they do not need that much space. But the price is good and I tell them they can negotiate the price with the owner,” according to Walley, adding that the asking price has been lowered from over $1 million to approximately $650,000.
Apparently an out-of-state real estate broker has been hired to sell a number of DURA properties, including the building in Hannibal.
“They have indicated they’re very interested in moving it,” said Walley.
Although it was noted that the DURA North building is in need of roof repairs, Walley still believes the property is still marketable.