Tax Incentives | St. Louis Public Radio

Tax Incentives

A rendering of the Major League Soccer stadium, which is scheduled to be completed by March 2022.
Major League Soccer ownership group

The Major League Soccer ownership group is one step closer to securing the public financial aid it's seeking to construct a stadium in downtown St. Louis.

The aldermanic Housing, Urban Development and Zoning Committee on Wednesday unanimously passed two bills outlining tax incentives for the project.

A Build-A-Bear employee sets out a display bear after dressing it in a new Blues uniform at at a store in the St. Louis Galleria. With the approval of a tax incentive package, the company is expected to move its headquarters to downtown St. Louis.
Carolina Hidalgo | St. Louis Public Radio

The St. Louis Board of Aldermen approved a tax incentive package Friday, sweetening a plan for Build-A-Bear to move its headquarters ⁠— and 200 employees ⁠— to downtown St. Louis from its current location in Overland. 

After passing on a 22-3 vote, the bill now moves on to Mayor Lyda Krewson for a final signature, which a spokesman said she will provide.

Parson announced a new tax incentive plan for automotive manufacturers Wednesday. May 8, 2019.
Kae Petrin | St. Louis Public Radio

Missouri Gov. Mike Parson is pushing an economic development plan intended to incentivize General Motors to expand its automotive plant in Wentzville.

If approved by state Legislature, the plan would make the auto manufacturer eligible for more than $50 million in state tax credits. Parson emphasized that the company’s expansion was only potential, and a GM spokesman told the St. Louis Post-Dispatch that the company won’t make any decisions until it has had more discussions with community officials and the United Automobile Workers union.

Parson visited Wentzville on Wednesday to publicize the plan. Parson also surveyed flooded farmland in St. Charles County during the trip.

A boutique apartment tower going up at Euclid and West Pine avenues received tax increment financing in 2015. It sits across from a Whole Foods, which is housed on the lower level of another apartment building that received TIF. (Feb. 21, 2017)
File photo | Carolina Hidalgo | St. Louis Public Radio

A coalition critical of the tax relief St. Louis awards developers wants lawmakers to make processes to grant tax incentives more transparent and more equitable.

When it started in 2016, Team TIF focused on education. But now that the public is more aware of how the city grants developers incentives, the coalition is pushing for policy changes, volunteer Molly Metzger said.

“The problems that we see in St. Louis and other cities — of racial segregation, of stark inequality — these are not created by markets alone. They are created by markets that were structured by governments,” said Metzger, a professor who studies housing policy at Washington University’s Brown School of Social Work.

Susannah Lohr | St. Louis Public Radio

Tax incentives in St. Louis have come under increasing scrutiny in recent years, both from within city government and among citizens' groups.

Now the St. Louis Development Corporation, the agency that recommends whether a development should receive the city’s help, is proposing some reforms.

Illustration by Rici Hoffarth / St. Louis Public Radio

A St. Louis citizens group wants the city to be more transparent when it comes to tax incentives.

Team TIF is asking the city's Board of Aldermen to pass three proposals and has even drafted the language:

The proposed office building would be on the west end of Ballpark Village, across the street from Busch Stadium.
St. Louis Cardinals

Updated Dec. 19 with Greitens opposition to public stadium funding - The St. Louis Board of Aldermen considered millions of dollars in economic development incentives Friday, sending some to Mayor Francis Slay while setting others up for approval in the New Year.

At a meeting that stretched over three hours, aldermen gave final approval to $56 million in incentives for the second phase of Ballpark Village and to an agreement with Saint Louis University that gives the school control over the development around its planned new hospital.

Provided by the Cardinals

The next phase of Ballpark Village would change the look of downtown St. Louis.

The Cardinals, along with development partner Cordish, plan to build a 29-story apartment building at the corner of Clark Avenue and Broadway Avenue, just north of Busch Stadium.

(From the Economic Development Incentives report from the PFM Group.)

Each month the commissioners of the Land Clearance for Redevelopment Authority of St. Louis hear request after request from developers and even residents for tax abatements that usually last five to 10 years. 

It's just one of the tools the city uses to spur economic development, but St. Louis officials are taking a look at how those tax incentives are distributed. 

This article first appeared in the St. Louis Beacon, Nov. 29, 2013 - Long before the Missouri General Assembly became paralyzed over the scope and size of tax credits, it wasn't unusual for the Show-Me State's political leaders to reach economic development accords.

One case occurred in 2008, when the Missouri General Assembly and then-Gov. Matt Blunt agreed on a roughly $240 million incentive package aimed at enticing Bombardier to build civilian airliners near Kansas City. Despite some misgivings from a bipartisan group of legislators, the bill managed to come together relatively quickly – and was hailed as one of the big accomplishments of that legislative session.

This article first appeared in the St. Louis Beacon, April 29, 2011 - WASHINGTON - As gasoline prices continued to rise this week -- averaging about $3.88 a gallon in the St. Louis area on Friday -- federal officials and lawmakers scrambled to assess blame for the increases and find ways to stabilize prices at the pump.

President Barack Obama has asked the Justice Department to investigate possible price-gouging or fraud in oil markets. Congress is preparing to vote on proposals to expand oil drilling and scale back tax breaks for the oil industry. And a number of lawmakers, including Sens. Roy Blunt, R-Mo., and Mark Kirk, R-Ill., are pushing for legislative action on "boutique fuels" and other fronts.