New Jobs Bring New Revenue But Why Columbia?
IBM will move into an already existing structure, but that structure has been vacant. So the new business will bring new tax revenue.
Over the next ten years tax revenue will increase
$7 million dollars for the city
$4.3 million dollars for Columbia Public Schools,
and $4.7 million dollars for Boone County.
Columbia mayor Bob McDavid also expects the IBM move to include 300 additional homes.
"It just brings a lot of jobs, not just with this one announcement of a company, but the interest with trying to have a need to increase the supply of homes if it happens to help a lot of different businesses along the way," said Columbia Board of Realtors President Kenny Hubble.
IBM will now be one the largest employers in Mid-Missouri. Currently, the largest private employer in Columbia is MBS Textbook Exchange with just more than 1,200 employees.
But why would the company choose Columbia?
An IBM spokesman said this was for 3 reasons.
The strong public and private partnership, the talented work force in mid-Missouri, and the competitive business model.
That business model includes economic incentives Governor Nixon discussed Monday afternoon. Such as,
$4.2 million dollars for new jobs training
$8.6 million dollars from the Missouri Build Program
$4.7 million dollars from the Missouri Quality Jobs Program.
"Additional people will be thinking about moving, moving up, or moving down, or in the process of knowing, ok there's additional home buyers in the market at this point in time," said Hubble.
Governor Nixon said this new business and its effect, is an example of a great return on investment.