DEXTER - The Dexter Chamber of Commerce development group will receive a $2,585,000 loan to purchase and remodel an industrial building.
The building will then be leased to ArvinMeritorn Inc., a global provider of a broad range of components for the automotive industry.
The U.S. Department of Agriculture Rural Development approved a conditional commitment for the guaranteed loan, according to an announcement from the office of Eighth District Rep. Jo Ann Emerson.
"This announcement is great news for Dexter, Stoddard County and Southern Missouri," Emerson said. "The infusion of funds and the expansion of ArvinMeritor's manufacturing facility will create 259 new jobs, as well as help retain 185 existing jobs at the company.
"Southern Missouri exports high-quality goods all over the world. We have a tremendous and dedicated workforce. Not only have do the workers of Southern Missouri deserve more opportunities like this one - they have earned it.
"In a time when job creation is not keeping up with economic growth in rural America, Rural Development is focused on putting Southern Missouri back to work. We must continue to bring stable, lasting jobs to our rural communities."