Watch a replay of the announcement in the player above.
COLUMBIA, Mo. (KMIZ)
Gov. Michael Parson visited a growing Columbia business Thursday morning.
The governor spoke at EquipmentShare, an equipment rental company, to tout the company's expansion.
"To be able to see this come full circle from where it was three or four years ago and to see the announcement they made today of $100 million dollars here in a Columbia community and also in the state of Missouri, 500 new jobs over a five year period, that's a big day," Parson said. "That's a big day for Columbia and its a big day for Missouri."
In August, EquipmentShare officials met with the Boone County commissioners about receiving a tax break under the Chapter 100 program. The company wants to construct a building that can handle heavy tech demands.
EquipmentShare says that the new building will sit on 35 acres of land and be more than 50,000 sq ft.
According to EquipmentShare, the expansion would cost $100 million over several phases and the growth would create around 555 jobs over 5 years.
The company says they're anticipating breaking ground in the upcoming months.
EquipmentShare spokeswoman Meg Judy said the company feels the expansion will have benefits that ripple out into the community.
"I think it'll be a massive trickle-down effect," Judy said. "You know, like the governor said, you're not just bringing in 500 new jobs. 500 new people, that's families. That's people, children will get into the Columbia public school system. That is your hairstylist, your grocery stores.".