|
MIDDLE MARKET HIGHLIGHT, JULY 2005
JEFFERSON CITY
Karen Stone, CCIM
After its initial designation as a metropolitan statistical area 18 months ago, Jefferson City has continued to see “consistent and manageable growth,” according to Missy Bonnot, vice president of economic development for the Jefferson City Area Chamber of Commerce. The four-county area has a population of approximately 142,000 that is growing at about 2 percent a year, as well as a strong, diversified economy led by the state government (18,000 employees), Scholastic Incorporated (2,000 employees), and Command Web, the printer of the Harry Potter books.
 |
The Jefferson City Area Chamber of Commerce is currently designing and implementing a unifying architectural theme in downtown Jefferson City.
|
|
Retail is thriving in and out of town. Wildwood Crossing, a power center, was completed at the end of last year on the west side at the intersection of Highway 50 West and Truman Boulevard. Built on 16.5 acres, the 149,000-square-foot center is already 100 percent occupied. “This is the first power center built in several years and its impact has been significant,” says Larry Kolb, one of the owners. “We built when the timing was right and major retailers were looking to secondary markets as locations for smaller stores.” Jefferson City-based Kolb Properties designed the center with Jefferson City-based Otke Construction as the contractor.
The industrial sector is also seeing growth. Von Hoffman Press, located on Industrial Drive, has announced a $10 million expansion. In July 2004, Alpla Inc. announced its purchase of 10 acres in Algoa Industrial Park, with the option for 10 more acres, on which it is now building a free-standing 70,000-square-foot building. The company will hire more than 120 employees during the next 2 years. Alpla Incorporated manufactures plastic bottles for Unilever, another large employer in the area. Matrix Packaging, also a supplier to Unilever, recently purchased a 60,000-square-foot facility on the west side in Capital City Industrial Park.
Bonnot looks for the future to hold steady, even development in all four quadrants. “Mixed use projects will continue to be the focus in both suburban and downtown areas. Downtown residential will continue as a strong trend in the near future,” she says “We have a very vibrant downtown and we are currently working on aesthetics by designing and implementing a unifying architectural theme.”
©2005 France Publications, Inc. Duplication
or reproduction of this article not permitted without authorization
from France Publications, Inc. For information on reprints
of this article contact Barbara
Sherer at (630) 554-6054.
|
