FOR IMMEDIATE RELEASE
Tuesday, April 17, 2012
Plumbing supply company makes moves from Overland Park to Independence – credits loan from Treasurer Zweifel
84-year-old company brings six jobs and expansion plans to Missouri
INDEPENDENCE, Mo. – HEBCO, Inc. , a plumbing supply sales agency, has moved from Overland Park, Kan., to Independence thanks to a $210,000 low-interest Missouri Linked Deposit Program
loan from State Treasurer Clint Zweifel (ZWY-ful). The loan was used to purchase and renovate HEBCO’s new 7,500-square-foot headquarters at 4304 South Washington Avenue. The move brings
five full-time employees, one part-time employee and plans to add five more full-time jobs to Independence.
"Since 1936, HEBCO has been supplying construction sites in Missouri and Kansas, including the recent Kauffman Stadium and Arrowhead Stadium upgrades," Treasurer Zweifel said. "Chuck
brought his company to Missouri because of the Missouri Linked Deposit Program and the low-interest capital provided. We are bringing new jobs to Independence, and this company back to where it started – Missouri. We need incentives that reward companies for staying in Missouri, and ones that entice companies into our borders – that is what our loan program is about."
HEBCO was established in 1936 by William J. Hebenstreit in Kansas City, Mo. In 1980, Chuck Falkenberg and his partner purchased the company and reestablished it as HEBCO in Overland Park.
It currently represents several companies, including Sloan Valve Company . As a sales agency, HEBCO is responsible for sales, marketing and service efforts for the manufacturers it represents. The company renovated 3,000 square feet of its new building to be used as office space and plans to use the additional 4,500 square feet as a warehouse. The warehouse area will allow it to expand its current offerings.
"Our new location has positioned us to grow, doubling in size in the next five years with five new jobs," said Falkenberg, owner of HEBCO. "The location could not be better, just 12 minutes
from downtown Kansas City. Our experience with the Missouri Linked Deposit Program was incredibly positive, and we look forward to sharing how this program helped us come back to Missouri with other small businesses."
HEBCO will save an estimated $14,000 in interest over the next five years should it choose to take out loans for that period. Commerce Bank partnered to make this loan.
The Kansas City region has received more than $95 million in loans impacting more than 1,600 jobs and farmers since January 2009. Qualifying borrowers generally save 30 percent on the cost
of the loan. Nearly $985 million in loans have been approved statewide impacting more than 16,600 jobs and farmers.
About the Missouri Linked Deposit Program
The Missouri Linked Deposit Program is managed by State Treasurer Clint Zweifel. Missouri-based small businesses with up to 99 employees and farmers are eligible to receive a loan through
the Missouri Linked Deposit Program based on lender underwriting standards. Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans.
About 130 lenders with 350 branches throughout Missouri use the Missouri Linked Deposit Program. An extensive list of participating lenders and program eligibility guidelines are online at