Monsanto announced that it will invest $400 million in its Chesterfield research facility, an expansion that the company said would bring 675 jobs to the St. Louis area. The plan will add 400,000 square feet of lab space, greenhouses and plant growth chambers to the facility — all of it in an effort to boost its research into biological and integrated farming systems.
The expansion makes the Creve Coeur-based agricultural biotechnology company eligible for up to $22 million in Missouri Quality Jobs tax credits. The Missouri Development Finance Board is also considering a request for $9.5 million in Build Missouri Bonds. Governor Jay Nixon and Jerry Steiner, Monsanto’s executive vice president of sustainability and corporate affairs, announced the expansion today at a biotech convention in Chicago.