Bunge Plans Headquarters Relocation, Innovation Center
After searching multiple states for possible relocation sites, Bunge North America is planning to relocate its headquarters from Maryland Heights to a site in Chesterfield, Missouri, according to the St. Louis Post-Dispatch. In addition, the group has announced that it will also develop a new product innovation center in the Missouri Research Park in St. Charles.
The new four story, 150,000 square foot headquarters will be built by Opus Development Co.
“We are excited to remain in the region because this community is connected to so many links in the ag value chain,” said Todd Bastean, chief executive officer, Bunge North America.
The group plans to keep its existing 557 employees in the region, and will be adding 160 additional jobs over the next ten years. And if job creation and employment requirements are met, the Missouri Department of Economic Development will offer up to $10.9 million in tax credits to the company through its Missouri Works program. Additionally, the leased property could be approved for a 10-year, 50% tax abatement at the request of the St. Louis Economic Development Partnership.
Aside from relocating its headquarters, the group has purchased a building in the Missouri Research Park in St. Charles that will be the future site of the group’s innovation center which will include a test kitchen and pilot plots for oil and milling products, according to Food Business News.
“Today’s announcement that Bunge North America will not only stay in St. Louis but also expand significantly is a big win for the region and the state of Missouri,” said Governor Jay Nixon of Missouri.