Companies' recent expansions total more than 280,000 square feet
ST. LOUIS – The Missouri Research Park near Weldon Spring is undergoing a surge of activity and growth with recent expansions totaling more than 280,000 square feet of space. The growth is expected to result in the addition of 1,000 jobs over the next year.
Nexstar Financial Corporation, 321 Studios, Linco Research, Inc., Linco Diagnostic Services, Inc., and Natoli Engineering, Inc. have led the growth in the 700-acre research-and- technology park, located along the Highway 40/61 high-tech corridor in St. Charles County.
Linco and Natoli are expanding their Missouri Research Park operations with new buildings totaling 90,000 square feet of space. Nexstar and 321 Studios have moved operations into 193,000 square feet of space in three recently vacated buildings in the park. Nexstar and 321 moved into the Missouri Research Park in July of this year.
Improving economic conditions for high-technology companies and the desirable infrastructure amenities offered at the park have sparked the impressive growth, according to Rick Finholt, executive director of the Missouri Research Park.
“The high-tech sector is rebounding, the economy is improving, we have new companies coming in and some of our existing tenants are undergoing significant expansions,” Finholt said.
The recent surge in home refinancing and the growth of the mortgage-outsourcing business spurred Nexstar to establish a second national operations center in an 80,000 square foot building in the park. Nexstar Chief Operating Officer Jerry Halbrook said the new facility serves as the headquarters for the company’s network-technology operations. Nexstar employs 280 at the Missouri Research Park location and is expected to grow to more than 500 employees within the next year.
Nexstar provides outsourced client-branded mortgage services to banks, credit unions and financial service companies. Halbrook said the infrastructure and network system designed for previous tenant McCleod USA convinced Nexstar senior management to locate in the Missouri Research Park.
“We needed expansion space and were looking at various properties throughout the St. Louis region,” Halbrook said. “This building was very attractive because of the technology infrastructure that already existed. This location was conducive to our business, and the building was ready-made for what we need to do.”
Linco Research, Inc. founder Ron Gingerich saw an opportunity to expand operations into analysis research and created Linco Diagnostics Services. Linco Research, Inc., develops and manufactures reagents for diabetes, cardiac and obesity research conducted worldwide.
Linco is building a new 50,000-square-foot, two-story facility for the diagnostics- services company and will continue to operate the research company from two buildings the company already occupies in the park. The companies will add 25 new employees by the end of the year.
Gingerich said the University of Missouri’s commitment to fostering research and development influenced his decision to expand the business within the Missouri Research Park. Linco was one of the park’s first tenants, locating there in 1993.
“This is a park of like-minded businesses and it offers lots of green space, lots of security for our employees and the availability of space for growth,” Gingerich said.
Fast-growing 321 Studios, makers of DVD backup software, quickly outgrew 30,000 square feet of leased space at No. 17 Research Park Drive and decided to lease an additional 83,000-square foot building across the street for management, administration, and sales and marketing staff. 321 has more than doubled its workforce since moving into the Missouri Research Park. The company expects to increase its total workforce to 300 within a year.
“The Missouri Research Park is well-situated, close to I-40/64, and close to many of our employees’ homes,” said John Huhn, chief operations officer for 321 Studios. “It’s also well-centered for future recruiting and there is room for future growth and expansion.”
Natoli, developer of pharmaceutical tooling, parts and machinery, recently expanded operations with the completion of a new 40,000-square-foot research-and-technology building – the company’s third facility at the Missouri Research Park. With a total workforce of 130, Natoli added 30 jobs over the past year and is projecting the addition of 20 more jobs at the
new building.
President Carmelo Natoli moved his company to the Missouri Research Park in 1995.
“We have enjoyed a very productive partnership with Rick Finholt and the University of Missouri,” Natoli said. “The Missouri Research Park has a lot to offer. Our customers come in and they see the growth occurring at the park. It’s inspiring and exciting to be in the area.”
The technology infrastructure, the high-tech orientation of the park’s tenant companies and amenities such as wooded walking trails, the 18-hole Missouri Bluffs golf course and accessible parking and highways enhance the attractiveness for companies expanding in the Missouri Research Park.
Nexstar’s Halbrook said the park’s location is ideal for attracting a large talent base of employees who reside in St. Charles and St. Louis counties. Over half of the park’s 2,000 employees live in St. Charles County, within minutes of work.
“Our staff enjoys the open-air setting, the trees, walking trails and campus environment,” Halbook said. “Our building has a very open-air feel to it.”
The Missouri Research Park is the first business park in the St. Louis region to market exclusively to technology-intensive and research-based companies and now has more than 1,200,000-square-feet under roof. The Missouri Research Park is a project of University of Missouri Office of Economic Development and Missouri Research Parks, whose mission is to support Missouri’s economic growth by developing and sustaining research-and-technology alliances among the University, government agencies and private companies. For more information, call (636)-441-7701 or visit the MRP web site at www.um-mrp.org.
