Monday, July 25, 2016

BCEDC Hears Report On Growing Business

Guest speaker for the monthly meeting of the Bradley County Economic Development Commission conducted July, 25th was Mike Moncrief.  Mr. Moncrief operates the Warren Livestock Auction and Moncrief Range and Feed.  He spent time explaining in detail how the two businesses are organized and how they function.  He stated that he took over management of the livestock auction earlier this year and averages handling 200 head of cattle each week.  He went on to say that improvements have been made to the auction facility and it operates in a family friendly atmosphere.

Mr. Moncreif then described the feed bagging facility located in Hermitage.  At that location deer, horse and cow feed is mixed and bagged.  The feed is sold wholesale throughout the United States.  He went on to say that his firm has leased two of the Warren Tomato Market sheds to be used as a storage and shipping facility.

In response to a question from the audience, Mr. Moncief said he will employee around 20 people once the entire operation at both sites is functioning.  He stated that he is expanding the building in Hermitage and is working hard to make the business a continuing success.

Because the BCEDC Board did not have a quorum, no action was taken to approve the minutes or the financial statement.  The board's accountant Bob Milton did go over the financial report.  He reported assets of $800,837.69.  That includes cash and property.  In providing information relating to the city sales tax utilized for economic development, Mr. Milton pointed out that to date during 2016, the city of Warren has paid the BCEDC $47,677.08.  That amounts to $5000.00 per month to help pay for BCEDC operations and $2942.09 to make payments on the city industrial spec building.

The meeting was concluded with a discussion about the breakfast to be provided to the Arkansas Economic Development staff on August, 5th.  The breakfast will be paid for by the BCEDC and will allow time for local citizens to visit with state economic developers.

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