Monsanto plans $400 million R&D expansion

Despite the fact that Monsanto is being pursued by Bayer for a mega merger, the company announced it planned to spend $400 million to expand its research and development facility in Chesterfield, Mo., the St. Louis Post-Dispatch reported.

The expansion is expected to add 675 jobs to the area and will give Monsanto another 400,000 square feet of space for labs, greenhouses and high-tech plant growth chambers.

It will take approximately three years for the expansion to be complete.

"This is a tremendous investment in the future of agricultural research and development in the state we proudly call home," said Jerry Steiner, Monsanto's executive vice president for sustainability and corporate affairs to the St. Louis Post-Dispatch. "This gives our researchers what they need to get farmers the tools they need so that we all—9 billion of us in a few decades—will be able to get the food we need."

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