Kennett loses out on 150-job firm

Daily Democrat

KENNETT, Mo. -- The city of Kennett will be losing an industry employing 150 people.

Wise Company will be returning its operations to Rector, Ark. The firm had relocated to the former UARCO building in Kennett after a fire destroyed its plant in Rector last September. And the firm apparently was willing to remain in Kennett had the city been able to provide a suitable building.

City officials are working on a tax and bond package to see that it doesn't happen again.

To that end, the city council will still be asked to submit a one-quarter cent sales tax and a bond issue to voters on April 8. The money would be used strictly for a $2.8 million industrial development project.

Ironically, the tax proposal had initially been developed to keep the firm in Kennett, but the firm could not wait until April to see whether or not voters would agree to pass it.

City and chamber of commerce officials, the city council industrial committee and chamber economic development committee, had researched options over the past several months to develop a competitive, financially sound plan for Wise and Kennett.

The most workable alternative was to finance the purchase of the building through a sales tax increase.