$30 Million Public Funding Rejected for St. Louis Soccer Stadium

December 19, 2019

The $461 million Soccer Stadium for St. Louis is currently under review regarding the tax credits the public will contribute to the project.  With the majority of funds being financed by the private MLS4THELOU Ownership Group, the Missouri Department of Economic Development is against making the public contribute $30 million in tax credits and will consider a smaller request for $6 million for the project in January.

“This is an exciting project. The ownership group should be commended for their leadership and initiative on this project and longstanding support for the St. Louis region. We understand they are disappointed with this decision. While we support the project, we do not believe that increasing program caps to authorize $30 million in tax credits for a stadium is the right decision for Missouri,” said a statement issued by the Missouri Department of Economic Development (source: St. Louis Post-Dispatch)

The ownership group, led by the Taylor family of the Clayton-based Enterprise Holdings, wants to get the St. Louis stadium built in time for the first MLS home game in March 2022.

Sources:
MM&E Staff
St. Louis Post-Dispatch
St. Louis Public Radio

MM&E

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Joe Clote

Joseph W. Clote is owner of Publishing Concepts, LLC a communications and marketing firm based in Saint Louis, Missouri. Mr. Clote is Group Publisher of MeetMed™ and Missouri Meetings & Events™ (MM&E) magazine, a quarterly publication read by thousands of meeting and event professionals, and producer of the St. Louis and Kansas City trade shows under the MM&E name. Mr. Clote has extensive sales and marketing expertise in the travel, tourism, fine art, insurance, and software development industries.