Show-Me State Times

St. Louis, Apr 1, 2024 - Greater St. Louis, Inc. and the St. Louis Development Corporation have announced new incentives aimed at attracting retail businesses to Downtown St. Louis, with a focus on enhancing the vibrancy and activity at street level.

Kurt Weigle, Chief Downtown Officer for Greater St. Louis, Inc., highlighted the potential of Downtown St. Louis, stating, "Downtown St. Louis sees over 15 million visitors a year. It has over 10,000 residents, a neighborhood population that increased 29% from 2010 to 2020. There are over $3.8 billion in development projects underway Downtown right now." Weigle emphasized the need for increased retail activity in the area and the importance of the new incentives in achieving this goal.

The incentive package comprises four components designed to stimulate retail activity and enhance the street-level experience in Downtown St. Louis. These components include support for pop-up shops, outdoor seating for restaurants, tenant improvements, and rent guarantees.

Neal Richardson, President & CEO of SLDC, underlined the significance of the incentives in supporting the economic health of the city, stating, "Downtown is the heart of the entire St. Louis region. Expanding access to high-quality retail options and supporting downtown businesses is vital to the long-term economic health of the city."

Alex Oliver, CEO of Oliver Properties, emphasized the impact of activating ground floor commercial spaces on the revitalization of Downtown, stating that it will "improve the walkable feel of Downtown and drive public safety with more eyes and feet on the street."

The partnership between GSL and SLDC has allocated over $350,000 for these incentives, aligning with the community-informed plan for Downtown St. Louis. The initiative aims to make Downtown a more attractive neighborhood for residents, businesses, and visitors, contributing to the area's ongoing revitalization efforts.

For businesses and property owners interested in learning more about these incentives or participating in the program, detailed information can be found at GreaterSTLinc.com/retailincentives.

Inquiries can be directed to Tony Wyche, Media Contact at Greater St. Louis, Inc., by contacting 314-398-9991 or emailing Tony@GreaterSTLinc.com.