ST. LOUIS (AP) — A company that makes industrial lubrication systems could receive state and local incentives to build a new manufacturing plant in the St. Louis area.
Sweden-based SKF plans to relocate its facility from St. Louis city to St. Louis County while retaining 388 jobs and creating an additional 73 jobs over the next six years.
The Missouri Department of Economic Development says that SKF could qualify for up to $1.8 million in state tax incentives. The company also could receive tax breaks from St. Louis County.
Construction of the 311,000-square-foot-building is to begin this fall and could be completed by December 2015.
Gov. Jay Nixon says SKF could have moved elsewhere. He says its continued presence in the St. Louis area is a "vote of confidence" for the region's workforce.