Issue: 1180 Date: 4/4/2013
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St. Clair County board approves funding for MidAmerica expansions
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MidAmerica St. Louis Airport in Mascoutah
St. Clair County board members agreed to sell $3.7 million in bonds to fund expansions by North Bay Produce and the Boeing Co. at MidAmerica St. Louis Airport in Mascoutah.
Both companies are looking to add more employees and increase their operations at the site, the Belleville News-Democrat reports. County Board Chairman Mark Kern told the newspaper that the bond sale would add a total of 60 jobs at the site.
About $3.5 million from the bond will fund an 18,000-square-foot expansion to North Bay's refrigerated warehouse. The company has agreed to pay back the cost of the bonds in full and extend their lease from 15 to 23 years. The expansion will allow the produce company to grown from 32 to 80 employees.
The county will also pay upfront costs for the $100,000 expansion of the Boeing Co.'s assembly plant at the airport. Boeing will pay back the county through increased rent during the six-month lease. That expansion is expected to increase Boeing's workforce from 89 to 110 employees by August.
The bonds are part of an upcoming $30 million bond sale, which will also fund more than $21 million in road projects.
