MO: Palindromes to Invest $63M, Build HQ, Two More Facilities, Hire 93
30 Aug, 2018
Palindromes Inc., a U.S.-based, privately held corporation with a diversified project portfolio focused on sustainable and socially responsible access to the world’s most basic needs: food, water, energy, shelter and clothing, announced plans to open three new facilities in Missouri, under its Palindromes, Sedes Soy Crush and Sedes Group LLC brands. The three projects will bring 93 new jobs to Missouri and represent more than $62 million in total capital investment.
“Palindromes and its subsidiaries are a welcome addition to Missouri, and the jobs they bring are good jobs that will support area families,” Governor Mike Parson said. “The fact that this company chose multiple locations around Missouri to establish three new businesses goes to show you that in Missouri we know how to get it done. We have the talent, we have the locations, and we have the right environment for businesses to succeed, and I look forward to seeing these businesses do just that right here in Missouri.”
“Palindromes had a set criterion when searching for where to establish its principal place of business and launch our initial projects,” said Karla Klingner, CEO of Palindromes. “The State of Missouri and its leadership exceeded our expectations. As a rural Missouri native, I was beyond excited to call Missouri home once again when our shareholders unanimously chose the Show-Me State. With such talent and innovation in the agricultural space, we believe Missouri is the right fit to help Palindromes advance its vision of correcting markets, redefining value, improving farmers’ profit margins, and increasing the tax base for our rural communities at a time when they are most in need.”
Palindromes Inc. will establish its new corporate headquarters in Columbia, Missouri. The company’s portfolio includes agriculture inputs, food & feed processing, food & feed products, building products, and port infrastructure. Sedes Group LLC, pronounced ‘seeds,’ will also manage contracting, sales, and distribution of value-added grain crop varieties from its new facility in Columbia, Missouri.
Sedes Soy Crush will build a new soybean crushing/processing facility near Caruthersville, Missouri, to crush and process value-added, non-GMO specialty soybeans that focuses on high proteins and healthy oils for the expansion of high value markets.
"REDI is excited Palindromes has chosen to make Columbia its new headquarter location," said Stacey Button, REDI president. "The Palindromes company focus on agriculture and sustainability make it the perfect fit for the Columbia community and for collaboration with the University. Palindromes leadership also cited Columbia Regional Airport as a key factor in its decision due to their extensive travel needs."
“The Pemiscot County Port Authority is pleased that Palindromes has made the decision to locate its Sedes Soy Crush facility at the Pemiscot County Port. Location decisions like this are made possible by the Missouri State Legislatures long-standing commitment to invest in Missouri’s Public Ports,” John Ferguson II, Executive Director of the Pemiscot County Port Authority said.
The State of Missouri, Missouri Partnership, Pemiscot County Port Authority and Columbia Regional Economic Development, Inc. worked together on these projects.
“We are excited to welcome Palindromes and its subsidiaries to Missouri,” said Missouri Partnership CEO Steve Johnson. “This was a project that required coordination at all levels across multiple communities in the state, and the joint efforts of everyone involved was excellent. We would not have been successful recruiting Palindromes to Missouri without our partners at Pemiscot County Port Authority, Columbia Regional Economic Development, Inc., and the State of Missouri.”