Bank CEO: $500 million Jerseyville project boosts entire metro

Bank CEO: $500 million Jerseyville project boosts entire metro
March 2, 2018 Jerry Vallely

This story was originally published in the St. Louis Business Journal on March 1, 2018.

By Greg Edwards | St. Louis Business Journal

“A planned $500 million investment in a railroad logistics center in Jerseyville, Illinois, will be a boon to the entire metropolitan area and likely will result in highway expansion as well as permanent jobs, Tom Hough, CEO of Carrollton Bank, said.

The project involves the Kansas City Southern Railroad, with expected private funding from Stonemont Financial Group of Atlanta, and could eventually create 2,000 jobs, including offloading cargo to semi-trucks along the rail line that runs through Jerseyville, about 12 miles north of Godfrey, as well as light manufacturing and warehousing.

“It’s a big deal, not just for Jerseyville, but for the entire metropolitan area. It will lift all boats,” said Hough, whose bank has nine branches throughout the metropolitan area, including in Jerseville…”

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