WENTZVILLE, MISSOURI (KTVI)- The City of Wentzville has approved bringing a substantial industrial development project to the community. During its strategic planning session in the summer of 2015, the Board of Aldermen named economic development as one of its top six Board priorities. Now, with the support of the Mayor and members of the Board of Aldermen, the Wentzville Logistics Center will become a reality
The 132-acre tract, originally located in unincorporated St. Charles County, has been annexed into the City. The Wentzville Logistics Center will be a 1.3 million-square-foot facility located on 73 acres of the tract, near the intersection of Highway A and Westgate Business Court, near Highway 40/61.
The project will be constructed by NorthPoint Development, a Kansas City-based developer. The facility is expected to serve as a sub-assembly operation and to provide warehousing space for the nearby General Motors Wentzville Assembly Center.
Due to its forward-thinking approach, the City will also realize more than $5 million in public roadway improvements. This project will receive a 34% tax abatement over 10 years, through the issuance of Chapter 100 bonds. This abatement will help to offset the cost of the public infrastructure improvements necessary to move this project forward. Taxing jurisdictions, including the Wentzville School District, will realize more than $5.7 million in new tax revenue, with development of the project over the 10-year abatement period.
In a cooperative public-private partnership, the St. Charles County Road Board, in conjunction with the City of Wentzville and NorthPoint Development, will participate in the funding of more than $5.8 million in roadway improvements. The County will contribute a 50% match to help offset the cost of these roadway infrastructure improvements. The improvements will benefit both the project and motorists presently using Highway A and Interstate 70.
Total investment in the project is expected to exceed $40 million. Groundbreaking for the project is expected in June, with completion of the building by January 2016. When complete, the project will represent a significant economic impact to the City of Wentzville and to the region. This type of economic development both lessens the tax burden on residents and provides employment opportunities. The building will be the second largest in St. Charles County. The largest building in the County is the General Motors Wentzville Assembly Center, at more than four million square feet.
