Decatur Official Says ADM Building Purchase Will Be A Huge Boost to Downtown
Archer Daniels Midland's plan to buy a downtown building is one in a series of moves to spur economic growth in the area, according to a Decatur city official.
The agricultural processor has entered into an agreement with Reynolds Development to purchase the building adjacent to ADM's Global Technology Center on North Water Street. Moving 350 employees there from other parts of the city will boost the company's downtown workforce to about 700 people, about 17-percent of ADM's local workforce. The company will decide which employees move to the Reynolds building by the end of the year.
Decatur Assistant City Manager Billy Tyus said ADM's agreement is moving forward as soon as possible, and helping to complete a longtime vision.
"These are folks who will shop in downtown stores, who will eat in downtown restaurants, and will hopefully visit downtown entertainment venues," Tyus said. "We think it's just one more step in our producing a downtown that will be a 24-hour living environment, which is what we've been working towards for some time now."
The new ADM facility will still house a Regions Bank branch currently in the building. Meanwhile, Reynolds Development is planning another downtown development for luring in restaurants, office, and retail development. That facility will also house an insurance company that Reynolds operates. To add to the development, the city of Decatur has been negotiating with the state to take over jurisdiction of US Route 51, and move it out of the downtown area. Tyus said that will allow for the re-routing of truck traffic.
On Thursday night, Decatur's city council will be asked to approve an agreement with ADM to allow downtown additional parking for employees that will be moving into that area.