Chillicothe, Mo. (AP) — Officials say two companies are planning to open a new facility in northern Missouri to build and refurbish intermediate bulk containers.

The project in Chillicothe calls for a more than $5.1 million investment and is expected to create 87 jobs. The 50,000 square-foot facility is to be co-opened by IBC North America and Clean Tide Container. It is needed because of increased demand, particularly in the agricultural sector.

Gov. Jay Nixon announced the project Wednesday. The state Department of Economic Development says the companies have accepted Missouri’s proposal for incentives but not yet filed an application for the tax incentives.

IBC North America is based in Clarkston, Mich., and was founded in 1997. Clean Tide Container was founded in 2004 headquartered in Robertsdale, Ala.