In an effort to boost retail activity in downtown St. Louis, Greater St. Louis Inc. and the St. Louis Development Corporation have announced $350,000 in grants and incentives. The four initiatives aimed at attracting businesses to the city’s downtown include grants for pop-up retail shops, restaurants looking to expand outdoor seating or retail displays, new retail businesses for improvements, and ways to help property owners rent space to retail shops.
The announcement of these incentives comes at a time when many downtown businesses have shifted to remote work due to the pandemic. However, despite this shift, efforts to revitalize downtown St. Louis have been a priority for leaders in the area. With recent approval of additional funding from federal coronavirus relief funds for the America’s Center and a decrease in crime trends noted in a recent report, public safety improvements have also been a focus.
Kurt Weigle, chief downtown officer of Greater St. Louis Inc., highlighted the need for more retail activity in downtown St. Louis and how the announced incentives are designed to attract high-quality businesses of all sizes to the area. “We believe that by providing these incentives, we can create a vibrant and diverse retail environment that will benefit both residents and visitors,” said Weigle.”
The funding from Greater St. Louis Inc., which comes at a crucial time when many businesses are struggling due to the pandemic, is expected to help revitalize the downtown area by attracting more high-quality businesses that will bring new life and energy to the community.
