A manufacturer of die casts for a variety of industries, Continental Casting, plans to make a capital investment of $2.6 million to expand its factory operations in Monroe City, Missouri, and just a few miles to the northeast in Palmyra, expecting to create 80 manufacturing jobs.
Gov. Jay Nixon's office said the company produces aluminum, magnesium and zinc die cast solutions for the automotive, communications and electronics industries as well as consumer products. "Homegrown, Missouri companies like Continental Casting are creating jobs and growing our economy," Nixon said. "Missouri job creators know they can count on our low taxes, skilled workforce and great communities to help their business succeed. That's why we will continue to fight for every job, every day, to keep our economy moving forward."
Continental Castings employs about 215 workers at its two manufacturing plants in Monroe City and Palmyra, Missouri. The company said due to an increased demand for its services from a number of new contracts, Continental Casting has embarked upon an expansion at both of its facilities that is expected to see 43 jobs created at the Monroe City plant and 37 new jobs in Palmyra, Missouri.
The Governor said "to assist Continental Casting in moving forward with its growth plans, the company could be eligible for a strategic economic incentive package from the state of Missouri if it meets the strict job creation and investment criteria of each program." The plants are also located in Enterprise Zones, making the expansion eligible for grants and tax incentives.