The Taylor Family has literally invested a billion dollars through various causes and developments within the last 5-7 years.MRNHS wrote: ↑Feb 10, 2023That's good to hear, as it seems like other cities seem to have one or two strong leaders within the business community that tend to step up. Thinking Dan Gilbert in Detroit, H&R Block in KC, Bridgestone in Nashville, all came in and helped change the face of their downtowns. Not that Edward Jones or Enterprise investing millions to help the Arch ground reno isn't valuable, but it doesn't necessarily help the liveliness of downtown. Here's hoping Emerson (or whatever companies you are betting on) come through.bwcrow1s wrote: ↑Feb 10, 2023All good points and I agree with the positive notions. I think the GSTL Inc move helped solidify and centralize their organizational goals for regional rebuilding, and have no doubt Hall and his team were a big part of the conversation as well. I've been working an interview series with regional stakeholders and the positivity of the business community seems way more ambitious and positive than the general public would like to carry, it seems. I've got big bets on a City location not just because of my own personal wishes but this region is dying for good news (there's some solid business momentum in my estimation though I feel many see it as one step forward, two steps back) and some important RBC members seem to have a more altruistic sense of what they can do to move the community forward, and that includes Downtown strength. I think everyone recognizes that it is key to a strong region as it's our front door to the region. But it will take pressure on political leaders as well to partner in making it the best version of itself it knows it can be.MRNHS wrote: ↑Feb 09, 2023Sure, downtown isn't quite as vibrant as in the past but I wouldn't say Clayton is much better in terms of liveliness. Since the pandemic Clayton has really become a ghost town, especially after 5 PM. As for Emerson, my "bet" would be they stay in Ferguson - a lot of room to build whatever they want to and it's close to the airport.
I actually see downtown being a stronger possibility than most would imagine. Emerson's CEO is on the board of Greater St. Louis and GSL is hyper focused on improving downtown, so I would imagine a downtown office will at least be considered. Also, Lal's quote in the Journal also seems to allude to more than just finding the best physical office space "We are actively exploring locations in the area, and we are eager to work with business and civic leaders to bolster the strength of the St. Louis region."
I'm not holding my breath on this, but I for one would really like to see Missouri sweeten the incentive pot for Emerson (or any other company) wishing to locate downtown. To not play favorites, they can do the same for KC and to a lesser extent COMO and Springfield. Seems to me that a strong downtown STL (and others) would greatly benefit the state.
I think you are misunderstanding MRNHS' point, which is that other cities have had corporations headquartered in their Downtowns, which stimulated significant investment. Enterprise is based in Clayton.STLAPTS wrote: ↑Feb 10, 2023The Taylor Family has literally invested a billion dollars through various causes and developments within the last 5-7 years.MRNHS wrote: ↑Feb 10, 2023That's good to hear, as it seems like other cities seem to have one or two strong leaders within the business community that tend to step up. Thinking Dan Gilbert in Detroit, H&R Block in KC, Bridgestone in Nashville, all came in and helped change the face of their downtowns. Not that Edward Jones or Enterprise investing millions to help the Arch ground reno isn't valuable, but it doesn't necessarily help the liveliness of downtown. Here's hoping Emerson (or whatever companies you are betting on) come through.bwcrow1s wrote: ↑Feb 10, 2023All good points and I agree with the positive notions. I think the GSTL Inc move helped solidify and centralize their organizational goals for regional rebuilding, and have no doubt Hall and his team were a big part of the conversation as well. I've been working an interview series with regional stakeholders and the positivity of the business community seems way more ambitious and positive than the general public would like to carry, it seems. I've got big bets on a City location not just because of my own personal wishes but this region is dying for good news (there's some solid business momentum in my estimation though I feel many see it as one step forward, two steps back) and some important RBC members seem to have a more altruistic sense of what they can do to move the community forward, and that includes Downtown strength. I think everyone recognizes that it is key to a strong region as it's our front door to the region. But it will take pressure on political leaders as well to partner in making it the best version of itself it knows it can be.
^Exactly. While we still have a very strong base of Fortune 500 and Fortune 1000 companies here there is no critical mass to drive investment and density of amenities with them spread throughout the region. We would benefit greatly to have them consolidate their locations into "districts".
Fortune 500 and Fortune 1000 companies are spread throughout every region with NY and SF possibly being the only exceptions. The Taylors have just as much effect in the urban core as anyone listed above. MRNHS' point isn't lost on me but I do I believe it is a little misguided and out of context.robertn42 wrote: ↑Feb 10, 2023^Exactly. While we still have a very strong base of Fortune 500 and Fortune 1000 companies here there is no critical mass to drive investment and density of amenities with them spread throughout the region. We would benefit greatly to have them consolidate their locations into "districts".
STL is arguably exceptional, however, in that so few of the large corporations here are based Downtown.STLAPTS wrote: ↑Feb 10, 2023Fortune 500 and Fortune 1000 companies are spread throughout every region with NY and SF possibly being the only exceptions. The Taylors have just as much effect in the urban core as anyone listed above. MRNHS' point isn't lost on me but I do I believe it is a little misguided and out of context.robertn42 wrote: ↑Feb 10, 2023^Exactly. While we still have a very strong base of Fortune 500 and Fortune 1000 companies here there is no critical mass to drive investment and density of amenities with them spread throughout the region. We would benefit greatly to have them consolidate their locations into "districts".
Stltoday - Emerson CEO issues a warning to region's leaders
https://www.stltoday.com/business/local ... 7370b.html
https://www.stltoday.com/business/local ... 7370b.html
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A great letter to the area. A clarion call, so to speak. And for all the downtown honks on this board, I came away from reading that op-ed thinking he was going to give serious consideration to downtown and the city.
Is that mass timber building in downtown west still a possibility?
Is that mass timber building in downtown west still a possibility?
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That’s the Foundry mass timber and I wouldn’t be surprised if that’s where they land
Yeah my point didn't come across quite like I intended. The Taylors do a heck of a lot for STL, I was not trying to say they weren't. I was merely pointing out that there are families/companies in other cities that do a lot to advance their respective downtowns. Maybe we beat those cities in big projects funded by our corporations/families (Arch to River, Forest Park Forever, Symphony, CityPark, etc) but other cities seem to get more of a buy-in on improving their downtowns. Not living in those other cities, maybe my perception is off, but that was the point I was making.STLAPTS wrote: ↑Feb 10, 2023Fortune 500 and Fortune 1000 companies are spread throughout every region with NY and SF possibly being the only exceptions. The Taylors have just as much effect in the urban core as anyone listed above. MRNHS' point isn't lost on me but I do I believe it is a little misguided and out of context.robertn42 wrote: ↑Feb 10, 2023^Exactly. While we still have a very strong base of Fortune 500 and Fortune 1000 companies here there is no critical mass to drive investment and density of amenities with them spread throughout the region. We would benefit greatly to have them consolidate their locations into "districts".
St. Louis has poor political leadership, but the corporate leadership is kind of weak too. Even with the fragmentation, the could have still invested in downtown and central city jobs. No doubt the region and the city of St. Louis would be much better off if 75% of our big business wasn't located in office parks on I-270.
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I feel like the needle is ever-so-slowly moving in the right direction.
Let's wait and see what local corporate leadership decides to do if the central corridor continues to improve itself with amenities and attractions that young people want to be around.
Let's wait and see what local corporate leadership decides to do if the central corridor continues to improve itself with amenities and attractions that young people want to be around.
Agree 100%. All this yammering about STL's challenges from region's big business leaders when their very company's divested themselves from the regional core, spread-out our limited resources and saw STL devolve to whatever it is now. The minute STL proper started showing some cracks, these companies ran away.goat314 wrote: ↑Feb 14, 2023St. Louis has poor political leadership, but the corporate leadership is kind of weak too. Even with the fragmentation, the could have still invested in downtown and central city jobs. No doubt the region and the city of St. Louis would be much better off if 75% of our big business wasn't located in office parks on I-270.
Emerson should be in downtown STL (or Clayton at least), Centene in BPV, Bunge downtown, Reinsurance Group, downtown, etc.
actions speak louder than words
Be all that as it may, suppose this is minor progress.
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Emerson not seeking any incentives or tax breaks is pretty amazing too.
“Karsanbhai wrote that Emerson did not consider or accept any economic incentives as part of its decision.”
https://www.stltoday.com/business/local ... _id=283731
“Karsanbhai wrote that Emerson did not consider or accept any economic incentives as part of its decision.”
https://www.stltoday.com/business/local ... _id=283731
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When do we think we might find out about where they intend to place their headquarters?
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They have three years, right? So give it a year and a half or so I'd say.
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I would agree they can drag feet a little if they plan to lease. If the want it built to suit and to own it the announcement will probably come when they secure the land and a first order rendering. To build new would require a few years to work through design, permits and build so they would need to lock down the site this year i would think.
Surprised me because I didn't take them leaving seriously, I thought the threat was just to get some tax or economic incentives.moorlander wrote: ↑Feb 14, 2023Emerson not seeking any incentives or tax breaks is pretty amazing too.
“Karsanbhai wrote that Emerson did not consider or accept any economic incentives as part of its decision.”
https://www.stltoday.com/business/local ... _id=283731
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well emerson isnt asking but if someone else is building for them they may ask
^ Sure, but a developer asking for abatement or TIF to build what would most likely be a multi-tenant building isn't really the same as Missouri or local governments offering specific incentives tied to Emerson maintaining or adding a certain amount of employees. Like the Missouri Works program for example. Or the city offering to withhold the E-Tax for a certain number of years, etc.
Considering what Karsanbhai has been saying in the press I would now bet on downtown, or at least the city, as well. And considering the timeline and their existing lease...I'd say AT&T...a building that has already been incentivized.
Considering what Karsanbhai has been saying in the press I would now bet on downtown, or at least the city, as well. And considering the timeline and their existing lease...I'd say AT&T...a building that has already been incentivized.
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Emerson said to be considering office in new Clayton tower
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https://www.bizjournals.com/stlouis/news/2023/05/08/emerson-forsyth-pointe-clayton.htmlEmerson Electric Co. (NYSE: EMR) is considering establishing an office in a prominent new office tower in Clayton, according to people familiar with the matter.
Sources have said Emerson is looking at taking several floors in one of the two towers that make up the $250 million Forsyth Pointe development, at 8001 Forsyth Blvd. and 7911 Forsyth Blvd.Forsyth Pointe tenants began moving into the towers this spring.
Emerson’s interest in the development comes as it scouts for a new headquarters in the St. Louis region. In February, the industrial technology and software company said it would remain in St. Louis after considering the possibility of moving its operations outside the region, prompted by the sale of its Ferguson headquarters campus.
It’s unclear exactly which space Emerson might be considering in Forsyth Pointe, whether the interest is connected to its headquarters search or if the company has looked at other local real estate.