Milling startup moves into SEMO Port

A new business will bring 40 new jobs to the area after approval Friday of a $750,000 federal loan.

The funding will allow Cape Milling LLC, a startup company, to set up shop at SEMO Port in a space previously occupied by Riverport Terminals.

Cape Milling will use the space to produce corn grits, meal and flour for the consumer market and blended corn-based products for federal aid to Third World countries.

Along with the loan, which will be used to purchase machinery and equipment for the facility, the company will invest $5.8 million in the project.

According to the Missouri Department of Economic Development, the company will purchase 6 million bushels of corn a year from Missouri farmers.

SEMO Port director Dan Overbey said the addition is welcome at SEMO Port.

"Number one, we're very glad to see what is right now a vacant facility being brought back to life," said Overbey. "This will create jobs, bring investment in and increase tonnage to the port, which will help with future growth."

Overbey said people with the company have already been doing preliminary work on the site, and he expects the work to convert the facility to start after the July 4 holiday.

If all goes according to plan, the company will be up and running by the end of the year.

msanders@semissourian.com

335-6611, extension 182