ST. LOUIS – The Missouri Legislature has given its approval to HB 3231, legislation aimed at attracting hundreds of millions of dollars in fresh investment to Downtown St. Louis. The bill is intended to spark the redevelopment of significant vacant structures, including the AT&T and Railway Exchange Buildings. Additionally, the legislation establishes new innovation districts and aids in revitalizing Main Streets throughout Missouri.
Greater St. Louis, Inc., which has championed this legislation over the last three years, celebrated its approval.
“This represents an excellent outcome for Downtown St. Louis and downtowns and Main Streets across the state,” said Ron Kitchens, Managing Partner of Greater St. Louis, Inc. “The Missouri legislature demonstrated its recognition of Downtown St. Louis’s significance to the state’s economic future and united across party lines to unlock hundreds of millions in new investment for the state’s economic core. We anticipate Governor Kehoe’s signature on this legislation.
“We are grateful to the bipartisan leadership group who made this achievement possible, particularly Representatives Brad Christ and Chad Perkins, Senators Kurtis Gregory and Steven Roberts, and the House and Senate leadership.”
Bill Passage Propels Investment Momentum for Downtown St. Louis
Beyond HB 3231’s passage, two further measures at the state and local level have recently moved forward, contributing to increased momentum for substantial investment in Downtown St. Louis:
- MODESA. The Missouri Legislature enacted the Missouri Downtown Economic Stimulus Act, which encourages downtown redevelopment and job creation by delivering critical public infrastructure improvements. This legislation will serve as a foundation for major upcoming initiatives such as the Millennium Hotel revitalization and Ballpark Village Phase III.
- Rams Settlement Funds. A proposal to be presented at the St. Louis Board of Aldermen on Friday, May 15, will allocate $55 million from Rams settlement proceeds toward Downtown infrastructure enhancements, with the business community planning to supplement these funds to increase their effectiveness.
“These combined actions demonstrate that state and local government are committed to fostering investment and economic expansion in Downtown St. Louis, the region’s and state’s primary economic driver,” stated Kitchens. “We are witnessing genuine progress and extend our gratitude to the elected officials and the business, civic, and philanthropic community members collaborating to transform Downtown St. Louis into the nation’s premier downtown.”
Greater St. Louis, Inc. – We Drive Growth
Greater St. Louis, Inc. develops alliances that fuel expansion throughout the 15-county St. Louis metropolitan area. We bring together business, government, and community stakeholders to promote economic expansion and prosperity in the St. Louis region and beyond. We work collaboratively to build a vibrant and inclusive St. Louis that attracts investment and skilled workers for the long term while generating increased and higher-quality employment opportunities throughout the area. Visit GreaterSTLinc.com to learn more about our growth initiatives.
