Greater St. Louis, Inc. CEO Jason Hall issued the following statement regarding the announcement this evening of a tentative agreement for the remaining funds from the Rams settlement:
“On behalf of businesses, organizations, and institutions that employ more than 200,000 people in the St. Louis metro area, we urge the City, County, and RSA to steward and invest these once-in-a-lifetime funds to grow the St. Louis economy for generations to come with a boldness that transcends jurisdictional boundaries and drives inclusive growth across the metro.
“We continue to believe that the three national models outlined in our recent white paper offer the best potential pathways to maximize the transformative potential of these one-time settlement proceeds. These funds should be deployed in an intentional and strategic manner to drive inclusive and catalytic growth in the metro. Based on national best practices, the use of one-time settlement funds should be based on a transparent process, clear and specific goals, sound fiduciary governance, accountability, and oversight.”
Background
As a result of the settlement with the National Football League following the Rams’ 2016 departure, St. Louis Mayor Tishaura O. Jones, St. Louis County Executive Dr. Sam Page, and the St. Louis Regional Convention and Sports Complex Authority (RSA) are charged with the responsibility for stewarding more than $500 million in funds received by our community.
On Oct. 31, Greater St. Louis, Inc. published a white paper outlining several models by which the settlement funds could be invested to drive long-term, transformational economic growth in the metro. The white paper is available here.
The white paper followed a July letter in which Greater St. Louis, Inc. recommended to Mayor Jones, County Executive Page, and the RSA that these funds be utilized effectively and strategically to maximize their impact on the regional economy.