Tax credits approved to redevelop Laclede Power Building
The Missouri Department of Economic Development approved up to $182,766 in remediation tax credits to Trailnet Acquisitions LLC for redeveloping the Laclede Power Building, the department said Monday.
The project is part of the Brownfield Redevelopment program, which provides financial incentives for redeveloping publicly owned commercial and industrial sites that, due to contamination, were abandoned.
The building, located at 1246 Lewis St., served as a power plant from 1902 until the 1940s and has been vacant for the last three years.
Trailnet Acquisitions will renovate the site into a bike rental shop, a bike sales shop, restaurant, catering business and office space -- creating about 46 new job, the company estimated.
"We are pleased to be able to provide the assistance that is necessary to create some of these new jobs and play a role in the clean-up and redevelopment of this property," Gov. Matt Blunt said in a statement. "These types of projects also help improve our communities and strengthen our economy."
The Missouri Department of Economic Development approved up to $182,766 in remediation tax credits to Trailnet Acquisitions LLC for redeveloping the Laclede Power Building, the department said Monday.
The project is part of the Brownfield Redevelopment program, which provides financial incentives for redeveloping publicly owned commercial and industrial sites that, due to contamination, were abandoned.
The building, located at 1246 Lewis St., served as a power plant from 1902 until the 1940s and has been vacant for the last three years.
Trailnet Acquisitions will renovate the site into a bike rental shop, a bike sales shop, restaurant, catering business and office space -- creating about 46 new job, the company estimated.
"We are pleased to be able to provide the assistance that is necessary to create some of these new jobs and play a role in the clean-up and redevelopment of this property," Gov. Matt Blunt said in a statement. "These types of projects also help improve our communities and strengthen our economy."