![]() MISSOURI SPOTLIGHT
St. Louis Spirit
The new Busch Stadium in downtown St. Louis is so close to I- 64 you can almost jump out of your car into the concourses. But the game being played in the metro in several cases involves companies relocating within the city, and into and out of it. For instance, eye care services company TLCVision Corp., with the help of CRESA Partners St. Louis, expanded to 27,000 sq. ft. (2,508 sq. m.) on one floor while lowering its occupancy costs by 11 percent and gaining visibility at a location along I- 64 at Olive. That company's 10- year lease will allow room for further growth down the road … without having to literally go down the road. Others do take it literally. Most recent was the Solae Co.'s announced move by 2008 from two St. Louis locations to one, establishing a
The project will see tax incentives from the city of St. Louis and CORTEX, including New Market Tax Credits and tax abatement. CORTEX first broke ground in December 2004. "I envision CORTEX becoming the buckle of an emerging national bio- belt, and it is my hope that other forward- thinking science companies will join us in championing its development," said Tony Arnold, president and CEO of Solae, which has approximately 400 employees. The move follows on the company's investment of $25 milion two years ago that retained 375 jobs in the city and was to add a handful more over the next two years. The company had considered locations in Illinois and Indiana at that time, but chose in the end to bring its Fort Wayne, Ind., R&D and marketing operations onto its existing location at the Nestle complex in St. Louis. CORTEX is a non- profit collaboration between Washington University, Saint Louis University, the Barnes- Jewish Hospital Foundation, the University of Missouri- St. Louis, and the Missouri Botanical Garden. The design- build firm for the Solae project is Clayco, which also served as design and construction manager for CORTEX's original 170,000- sq.- ft. (15,793- sq.- m.), $36- million building on the site of a former Markwort Sporting Goods Co. building. That building is occupied by Washington University Medical School and by cardiology instrument control system firm Stereotaxis - which itself relocated from other St. Louis quarters. CORTEX in 2004 announced it would be selectively acquiring and assembling development parcels covering more than 50 acres (20 hectares), as it strove to spearhead the creation of more than 4,000 jobs by 2010. |
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