County commission supports bond financing for Doyle Manufacturing project | Business

PALMYRA, Mo. — A planned expansion project of Doyle Manufacturing in Palmyra will move forward with the support of the Marion County Commission, which unanimously approved a bond request Monday.

Corey Mehaffy, executive director of the Hannibal Regional Economic Development Council, asked the commissioners to approve a resolution and application for private activity bond allocation for Doyle Manufacturing.

The resolution allows the county to be prepared to issue industrial revenue bonds to finance the project for Doyle Enterprise of Northeast Missouri, LLC. This will allow the company to move forward with the acquisition, construction and installation of the project by advancing funds for purchases and labor.

The resolution also allows the commission to authorize Gilmore & Bell, PC, as a bond counsel to the county to prepare the plan.

The project will include an additional 80,000 square feet of production space, a capital investment of $5 million and the creation of 50 new jobs.

According to Mehaffy, the expansion will increase the company’s employment to more than 240 employees with 275,000 square feet of production space. The company currently employs 196 people.

Doyle manufactures dry fertilizer handling equipment. Doyle moved from Quincy, Ill., to Palmyra in 2016.

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