| Lowe's Home Improvement has been issued a permit by the city of Neosho for the construction of a store on approximately 17 acres across from the present Wal-Mart on Clemons Dr. behind the Southwest Missouri Bank. Square footage of the building will total approximately 93,000 square feet with approximately 26,000 square feet for the garden area. The approximate cost of construction is $6,600,000.
Bob Blackwood, Neosho finance director said, “Lowe’s is projecting annual sales to be $20 million. Neosho’s yearly sales tax will benefit from that by an increase of $500,000 from Lowe’s alone. Of that $500,000, $250,000 will go into the general fund and $250,000 will go to the Tax Increment Finance (TIF) District for infrastructure improvements in the TIF District.”
The new store will employ about 120 local employees. “This is a tangible result of our economic development efforts through our branding campaign to bring increased retail opportunities, new jobs, and new housing to the Neosho area,” commented city manager Jan Blase.
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