American Outdoor Brands Corp (NASDAQ:AOBC)
American Outdoor Brands Corp (NASDAQ:AOBC), which specializes in the production of shooting and hunting equipment plans to put up a 500,000-square-foot distribution center in Boone County, MO. The facility is expected to provide 154 employment opportunities during the first three years of operation. Recently, officials from the company presented plans for the project to the Missouri Development Finance Board.
American Outdoor Brands Corp (NASDAQ:AOBC), which mainly sells firearms, electro-optics and accessories, is targeting 189 acres on Route Z (located north of Interstate 70) for construction of the distribution center and warehouse. The company also plans to put up a 35,000 square-foot office complex next to the distribution and may also buy an additional 22 acres for future growth and expansion. This includes the possibility of building the headquarters for its accessories division. Cumulatively, the company intends to secure space for 1 million square feet.
American Outdoor Brands Corp (NASDAQ:AOBC), formally called Smith & Wesson Holding Co., supplies its firearms to major retailers like Bass Pro Shop, Cabela’s, Dicks Sporting Goods and Wal-Mart; through online platforms like Amazon and directly to clients. The proposed Boone County distribution center will integrate the company’s operations and businesses across the country.
Battenfeld Technologies has a facility situated in Columbia. Additionally, American Outdoor Brands Corp (NASDAQ:AOBC) is seeking over $9 million in government incentives. The company has rolled out an investment plan of $55 million over a span of three years. The investment will entail acquisition of land, machinery, construction as well as cost of equipment. State Department of Economic Development Mike Downing said the state stand stands to benefit with $10.7 million spread out over a period of 15 years.
Boone County will offer a 50% tax cut on all real property for a period of 10 years as well as 50% tax cut on personal property for the life of the equipment at a value of $5.35 million.
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About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.