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EquipmentShare expands, brings more jobs into Moberly

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MOBELRY − Columbia-based construction equipment company EquipmentShare hosted the grand opening of a new 174,000-square-foot facility Tuesday in Moberly.

The company is investing over $46 million into its new second home, described as an industrial and upfitting facility, which will house telematics installations, equipment refurbishment, and the manufacturing of attachments for equipment.

Lt. Gov. Mike Kehoe as well as leaders from the Missouri Department of Economic Development and the Moberly Area Economic Development Corporation were in attendance for the opening. 

The facility will also allow the company to expand its research and development program, which includes assembly and telematics installation, as well as launch its tool and material refurbishment program.

“That will allow us to expand our technology, extend the life of our equipment, and allow us to assemble and create parts to avoid any supply chain issues in the future,” EquipmentShare spokesperson Amy Susan said.  

Susan says the 174,000 facility will offer over 150 new jobs that will address instances where machinery may fail. Instead of outsourcing to a further facility, engineers and mechanics can repair and bring equipment back on job sites and a faster rate. 

Randy Asbury, President of the Moberly Area of Economic Development Corporation, says this expansion will have a huge impact on an already robust manufacturing workforce in Moberly. 

“The bulk of our area’s major employer’s are manufacturers, and EquipmentShare’s presence will only strengthen that industry influence,” Asbury said. 

Asbury says local incentives from the City of Moberly involved a Chapter 100 bond abatement on personal and real estate property tax. This is a 12-year-plan with the first 7 years having a 100% tax break. The last 5 years will be a 50% break. 

The tax break is a similar incentive to the one applied to EquipmentShare’s new expanded headquarters in Columbia, which is still under construction. The Columbia tax break was also through Chapter 100, but with a 75% break over 10 years.

Since its Columbia announcement a few years ago, the company has broken ground and still has an estimated completion of date within the next few years. 

“We’ve already broken ground on our technology and development center. That along with the office building and some site amenities, we expect that to be completed around Q2 of 2024, and following that we will pick up the second phase of construction,” Susan said.

Work at the Moberly facility began as soon as the grand opening concluded.

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