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Noting that the St. Louis region is at a “pivot point” because of the debate over how the Rams settlement money is spent, Ron Kruszewski, Chairman and CEO of Stifel Financial Corp., says that investing some of the Rams settlement funds in Downtown projects is “a requirement” to succeed in retaining and attracting businesses.
“If you have this money and then you decide not to invest in the development of downtown, then as a person who comes down here for my 27 years I’ve been in St. Louis, that’s a message," said Kruszewski. Stifel, an executive-level investor in GSL, has had its headquarters in Downtown St. Louis since 1890.
With restoring the core of St. Louis, particularly Downtown, a top strategic priority called out in the STL 2030 Jobs Plan, Greater St. Louis, Inc. is leading an effort to use some of the funds from the Rams settlement to invest in critical infrastructure projects in North St. Louis City and Downtown.
GSL recently sent a letter to leaders of the St. Louis Board of Aldermen to ensure that the proposal — which would invest $98 million to improve Downtown infrastructure, including streets, sidewalks, and other projects as well as $130 million on disinvested neighborhoods in North City and south St. Louis — receives a public hearing and remains a priority, as voted on by the public.
About using Rams funds for investment in Downtown, Kruszewski added: “We’ll create a vibrant dynamic area. But it requires investment. You need to invest to get a return.”