Diamond International plans $8M capital investment

Diamond International of Springfield, which provides services and supplies for the trucking industry, announced today it would invest $8 million to build a 60,000-square-foot facility to house its local work force.

The investment also includes the addition of 33 jobs to its existing work force of 47 employees during the next three years and the purchase of new equipment and products, according to a news release from the Springfield Area Chamber of Commerce.

Diamond International, currently located at 1529 E. Chestnut Expressway, is moving its operation to the New Prime Subdivision, a Prime Inc.-owned commercial and industrial site along Interstate 44.

Expansion costs are being offset by $641,676 in state and local tax benefits provided through the Missouri Department of Economic Development and the city of Springfield's Enhanced Enterprise Zone tax incentive program, the release said.

Diamond International also has worked on the expansion project with the Springfield Partnership for Economic Development, which comprises the Springfield chamber, Springfield Business Development Corp., Greene County, the city of Springfield and City Utilities.

Diamond International of Springfield is owned by Memphis, Tenn.-based holding company Diamond Cos., which counts 212 employees and four facilities in Missouri among its 17 locations in four states.

Diamond International of Springfield Vice President and General Manager Steve Cook, who was attending a press conference announcing the new location this morning, was unavailable for comment by deadline.[[In-content Ad]]