Steadfast city Project highlight
Steadfast City client, IKO, kicked off 2025 with a $120M investment in Bismarck, MO, bringing jobs, innovation, and a brighter future to southeast Missouri.
IKO, a global leader in the manufacturing and supply of residential and commercial roofing products as well as insulation and waterproofing products, started 2025 with the ground breaking of their first Missouri facility in Bismarck, MO. The site selection team at Steadfast City Economic and Community Partners researched and negotiated incentives for the 100,000+ sf facility to house a subsidiary of the company, Bismarck Granules. This branch will be used to produce granules to supply IKO’s shingle plants across the country. It is estimated to bring $120 million in capital investment to the City and more than 50 new jobs to be hired locally. Construction on the new facility has begun and is anticipated to be complete by 2026.
This project’s focus onthe importance of regional collaboration in economic development compliments Steadfast City’s mission to develop better. Our shared vision to drive regional growth through business attraction projects led us to the expertise and resources of the Missouri Department of Economic Development, the City of Bismarck, Saint Francois County, and the Missouri Partnership. As a result of these efforts, Steadfast City successfully negotiated the following tools and programs for Bismarck Granules and was able to to make the project a reality:
Chapter 100 Real and Personal Property Tax Abatement – abatement on real property (building) and personal property (equipment) placed in service for the project
Sales and Use Tax Exemption – on construction materials for the project at the point of sale
Missouri Works Program – retention of Missouri withholding taxes for new jobs
In addition to its alignment with local economic incentives programs, the site offered key advantages to IKO and Bismarck Granules:
Existing utilities and infrastructure to support immediate development, with additional space and capacity to handle future growth and expansion for the company.
Strategically located to supply granules to IKO’s other roofing shingle plants throughout the United States.
Ability to establish a quarry nearby to support operations.
Existing partnership with New Frontier Materials to secure feedstock to be used as input to the process.
There are a variety of factors required for a successful business attraction project. For Bismarck Granules these include site readiness, available labor pool, an economic incentives package, and regional partnerships. If your company is considering a capital investment project or looking to scale, Steadfast City can support your efforts. Our team of real estate and financial analysts, site selection consultants, and credits and incentives experts can help with your location strategy to fit your project and needs. Contact us at developbetter@steadfastcity.com.
