Stonemont Financial Group, in partnership with the Jerseyville Economic Development Council and Kansas City Southern Railroad, will fund a $500 million railroad facility in Jerseyville, Ill.
Jerseyville mayor William Russell said the development will generate 1,000 jobs in the city of roughly 8,000 people, located 20 miles north of Alton.
The project has been in development for about four years. The new logistics center will be used for offloading cargo to semi-trucks along the rail line that runs through the city. In addition it will include assembly and manufacturing businesses. The 1,400-acre Mid-American International Gateway Business Park will have access to the Kansas City Southern Railroad.
Developers are applying for foreign trade zone status, which would allow foreign goods to be processed in and out of the facility without being subject to import duties while within the zone.
Kansas City Southern is one of the country’s major railroads. One of its Class I rail lines crosses the Mississippi River at Louisiana, Mo., and runs between Springfield and East St. Louis in Illinois.
The multimillion-dollar project will begin construction this summer.
