Jefferson Development Authority approves bonds for company
The Jefferson Development Authority approved a $15 million bond inducement resolution in a called meeting Thursday for Systemax Inc., which plans to locate a large distribution center in the city.
The business will be located at 235 Hog Mountain Road and plans are to initially hire 400 people, with as many as 600 to 700 eventually to be hired. In addition to the distribution center, there will also be a 40,000 square foot retail center on the site. The company projects an estimated $20 million annually in sales.
Systemax Inc. is the parent company for TigerDirect.com, Comp USA and Circuit City, and is a retailer of personal computers, notebook computers, consumer electronics, computer-related accessories, technology supplies and industrial products.
In a related matter, the development authority took action to designate the area where the business will be located as a recovery zone, which will make federal funds available for the project.
Present for the meeting were: development authority chairman Ron Bond; authority members Roy Stowe, Gus Johnson, Tommy Healan and Ed Thompson; attorney Ronnie Hopkins; chamber president Shane Short; and Jefferson city manager John Ward.