A new data processing company was recently established in Montgomery City and has invested over $600,000 and created two new jobs.

MTM Analytics, located in the Industrial Park section of the city, is one of four companies in the northern part of Missouri that the Department of Economic Development is partnering with this year to assist them with expansion and job creation.

Steve Etcher, a consultant of the Greater Montgomery County Economic Development Council, said he has been working with MTM Analytics for over a year, trying to help the company to find a location for its data computing campus.

“It represents a very significant investment by MTM Analytics, which obviously will support our tax base,” Etcher said. “It is a pretty substantial power user. It is a key driver for economic development, so we have to balance those demands within the marketplace. They’ll use a lot of power. They’ll pay a lot of franchise fees. Obviously, power availability will impact those growth strategies in the market.”

Besides MTM Analytics, the Department of Economic Development is also partnering with AAIM Datacenters and SPRE Commercial Group – both in Moberly – and Tri-Tech Automation in Moscow Mills. The companies have invested about $6 million and have created up to 31 jobs. In each of those four companies, new positions will pay an average salary higher than the county average.

“It’s exciting to see quality employers investing and creating jobs in Missouri’s north region,” Missouri Governor Mike Parson said in a press release. “Our dedication to strengthening infrastructure and developing our workforce is encouraging business growth statewide. We look forward to these companies’ continued success as they benefit their local communities while improving the lives of Missourians and their families.”

Michelle Hataway, who is the acting director of the Department of Economic Development, said the opening of the four companies will boost the economic growth in the northern part of the state.

“Supporting businesses is absolutely vital to our mission of helping Missourians prosper,” Hataway said. “We’re grateful for all our partners who work alongside us to bring more opportunities to communities statewide.”

AAIM Datacenters is a company that builds custom-suited data centers matching organizations’ needs and is investing $4 million and creating 10 new jobs. SPRE Commercial Group is a cryptocurrency mining company that is investing $950,000 and creating nine new jobs. Tri-Tech Automation is a full-service control systems integrator that is investing $360,000 and creating 10 new jobs.