Press release from PR Newswire
Monsanto Announces $400 Million St. Louis Expansion Plan At Chesterfield Village Research Center
Tuesday, April 23, 2013
Monsanto Announces $400 Million St. Louis Expansion Plan At Chesterfield Village Research Center11:30 EDT Tuesday, April 23, 2013
ST. LOUIS, April 23, 2013 /PRNewswire/ -- Monsanto Company today announced plans to bring together its St. Louis-based industry-leading research and development team on one campus when it completes a more than $400 million expansion at its Chesterfield Village Research Center. The company plans to begin work this summer and expects to add 675 jobs across St. Louis County over the next three years.
Monsanto plans to add 36 new greenhouses, additional offices and laboratory space as well as additional plant growth chambers to facilitate development of its seed and trait pipeline. Greenhouses and plant growth chambers, which can be programmed to represent any climate around the world, are a critical component of Monsanto's research work as they offer Monsanto scientists an opportunity to observe and select only the best performing seeds for in-ground testing.
"Our Chesterfield Village Research Center is already a world-class facility, and with our planned new investment, will truly be a home worthy of what I believe is the most innovative team in agriculture," said Robb Fraley, Ph.D., Monsanto's chief technology officer. "Monsanto has pledged to help those in agriculture find new ways to produce more while using less of our globe's resources."
Monsanto's proposed expansion will enable greater collaboration between researchers, as they work to develop new systems of technologies to make agriculture more productive and more sustainable.
Monsanto currently has approximately 1,000 employees at its Chesterfield site, which could have the capacity to house 2,000 local technology employees once the project is complete. Today, the site comprises 1.5 million-square-feet and includes approximately 250 laboratories, 122 plant growth chambers and two acres of greenhouses. In addition to the new office and research space, the company plans to add a new cafeteria for employees, a conference center and a parking structure. The expansion is being made possible with the support of the State of Missouri and St. Louis County.
"In Missouri, we take great pride in our state's status as a leader in the biotechnology industry, and Monsanto's $400 million expansion in St. Louis will accelerate our state's continued growth in this area," Missouri Gov. Jay Nixon said. "One of the fastest-growing sectors of Missouri's economy is in science and technology, and I remain committed to embracing these industries to transform our economy and create next-generation jobs. Monsanto's major investment in the state of Missouri, which will create hundreds of high-tech, high-paying jobs while also boosting our construction industry, further establishes the Show-Me State as a biotech powerhouse."
Monsanto's commercial and corporate teams will continue to occupy the company's Creve Coeur campus, which also currently houses lab spaces. Once employees are transferred to Chesterfield, those lab spaces may be converted to other uses, Fraley said. Construction is expected to be completed in 2017, and teams will begin moving to the Chesterfield site in phases beginning at that time.
The new construction will be LEED certified.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com. Follow our business on Twitter® at www.twitter.com/MonsantoCo, on the company blog, Beyond the Rows at www.monsantoblog.com, or subscribe to our News Release RSS Feed.
Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are "forward-looking statements," such as statements concerning the company's anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company's actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company's research and development activities; the outcomes of major lawsuits and the previously-announced SEC investigation; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the company's ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company's facilities; and other risks and factors detailed in the company's most recent Form 10-K Report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
Charla Lord (314-694-2993)
SOURCE Monsanto Company