ST. LOUIS – The Missouri Legislature today approved legislation, HB 3231, to bring hundreds of millions of dollars in new investment to Downtown St. Louis. Specifically, the legislation is designed to catalyze the redevelopment of major vacant properties like the AT&T and Railway Exchange Buildings. The legislation also creates new innovation districts and supports the revitalization of Main Streets across the State of Missouri.
Greater St. Louis, Inc., which has worked for the past three years in support of the legislation, applauded its passage.
“This is a great day for Downtown St. Louis and downtowns and Main Streets across Missouri,” said Ron Kitchens, Managing Partner of Greater St. Louis, Inc. “The Missouri legislature recognized the critical importance of Downtown St. Louis to the state’s economy and, in bipartisan fashion, stepped up to catalyze hundreds of millions of dollars in new investment in the economic engine of the state. We look forward to Governor Kehoe signing this bill into law.
“We want to express our thanks to the bipartisan leadership team that made this possible, specifically Representatives Brad Christ and Chad Perkins, Senators Kurtis Gregory and Steven Roberts, and the leadership of the House and Senate.”
Bill Passage Adds to Momentum for Investment in Downtown St. Louis
In addition to passage of HB 3231, two additional pieces of state and local legislation have advanced in recent days that add to the growing momentum for major investment in Downtown St. Louis:
- MODESA. The Missouri Legislature recently passed the Missouri Downtown Economic Stimulus Act, which facilitates the redevelopment of downtown areas and the creation of jobs by providing essential public infrastructure. This will be a key building block for massive and highly anticipated new projects like the Millennium Hotel redevelopment and Ballpark Village Phase III.
- Rams Settlement Funds. Legislation to be introduced at the St. Louis Board of Aldermen Friday, May 15, will invest $55 million of funds from the Rams settlement into Downtown infrastructure, funds that the business community plans to match to amplify their impact.
“Taken together, these steps show that our state and local governments are working to stimulate investment and growth in Downtown St. Louis, the economic engine of the St. Louis region and state of Missouri,” added Kitchens. “This is real momentum and we want to thank the elected leaders and civic, private-sector, and philanthropic partners that are working to revitalize Downtown St. Louis and make it the best downtown in the country.”
Greater St. Louis, Inc. – We Drive Growth
Greater St. Louis, Inc. forges partnerships that empower growth across the 15-county St. Louis region. We convene and collaborate with business, governmental, and civic leaders to empower economic growth and prosperity in communities across the St. Louis metro area. Together, we act with intention to create a thriving and inclusive St. Louis that attracts and retains investment and talent for generations to come and creates more and better jobs for the region. Learn more about how we are driving growth at GreaterSTLinc.com.