$6.75M bond proposed for business moving into former REX home

The Montgomery County Community Improvement Corporation (CIC) will consider a $6.75 million bond next week for a company that wants to move into and improve the former REX building off Needmore Road in Harrison Twp.

The CIC board will weigh a $6,750,000 bond for Earth City, Mo.-based idX Corp. to move into 2875 Needmore Road, the former REX electronics and appliances showroom.

The company will use the site to manufacture retail store fixtures, according to an agenda for the CIC board.

If the project comes to fruition, 130 full-time jobs would be retained and some 120 new jobs would be created, according to CIC documents. New annual payroll would amount to $3.5 million to $4 million. idX currently has a local site at 721 Springfield St.

The company would use $5.5 million for real estate acquisition and $1.25 million for building improvements, according to the agenda.

The CIC board meets at 10:30 a.m., Oct. 17 at the Montgomery County administration building.

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