St. Louis leaders unveiled a new economic development plan Wednesday that seeks to reverse the historic harm done to the city鈥檚 majority Black and brown neighborhoods from decades of past development decisions.
The lays a path for ways the city can build economic opportunity over the next two decades, while ensuring new investments don鈥檛 repeat mistakes of the past.
The city must spend the influx of cash it got from the American Rescue Plan Act within the next four years, said St. Louis Development Corporation President and CEO Neal Richardson.
鈥淲e don鈥檛 want this to just be a transactional moment as we鈥檙e having conversations with developers and businesses,鈥� he said. 鈥淲e need to make sure we鈥檙e holding them accountable to working to ensure that our city residents 鈥� and our youth most especially 鈥� have the access to the opportunities they deserve.鈥�
The plan evaluates parts of the city on specific indicators of need, such as high unemployment rates or historic housing discrimination, as well as areas of opportunity, such as when a neighborhood has a community development corporation or is located in a commercial corridor with ongoing construction.
Richardson said his organization is already putting the plan in play by targeting development and investment in Dutchtown, the area around the new National Geospatial-Intelligence Agency headquarters, Walnut Park and Martin Luther King Boulevard.
鈥淲e didn鈥檛 just want to have a blanketed statement of, 鈥極h, we鈥檙e helping north city,鈥欌�� he said. 鈥淲e wanted to have some key targeted areas so that you should be able to see some tangible differences in those neighborhoods.鈥�
Those differences should be obvious by the end of 2026 when the ARPA funds central to SLDC鈥檚 investments must be spent, Richardson explained. He said the city chose these areas because they represent places that have been historically marginalized and that have high potential if investments are done the right way.
St. Louis Mayor Tishaura Jones supports the effort.
鈥淓very St. Louis family, no matter which of the 79 neighborhoods they live in, deserves the same opportunity my family did to build a better life for their children and grandchildren,鈥� Jones said.
She said the plan should make the development process more transparent for businesspeople and others, 鈥渂uilding out a process and a structure to make sure anyone looking to do business in St. Louis knows exactly what it will take to do so.鈥�
The city has come under fire recently . . Richardson said showing progress on developments over time is something his organization can improve upon.
鈥淭hat鈥檚 one thing we don鈥檛 do a great job of historically in the city,鈥� he said. 鈥淲e talk about something for the moment it鈥檚 hot, but it falls by the wayside when it鈥檚 time for action.鈥�
In addition to the economic justice plan, SLDC released its , which lays out a specific scorecard on how projects will be evaluated for tax abatements and other kinds of investments.
These scorecards will be available on SLDC鈥檚 website for projects that go before the organization鈥檚 various development boards, Richardson said. He added that the agency鈥檚 review will include examining a developer鈥檚 past interactions with the city.
鈥淲e鈥檙e vetting those developers to ensure that you're a good neighbor, to ensure that you鈥檙e actually aligned with our vision for making St. Louis a more equitable city for all people to thrive,鈥� he said.
Eric Schmid covers economic development for 漏 2024 外网天堂.
