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Express Scripts expansion: Tax break details

5:11 PM, Jun 20, 2013   |    comments
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By Casey Nolen

CLAYTON, Mo. (KSDK) - The St. Louis County Economic Council has outlined details of tax breaks that the county is offering Express Scripts for the 1,500 jobs the company is adding.

Next Tuesday, the County Council will consider a 10 year 50 percent tax abatement for Express Scripts' new facility along with an exemption on all sales tax associated with construction costs. The county says it will negotiate a certain job requirements in exchange for the incentives.

The Express Scripts jobs are just the latest in a string of new job announcements in the region. Along with Boeing, Monsanto, and Charter, a total of more than 3,000 new jobs are said to be headed to St. Louis.

County leaders point to both the quantity and quality of these jobs as a sign that the local economy is improving.

"It is a fact. It is happening in St. Louis," said St. Louis County Executive Charlie Dooley. "And remember, these corporations and companies could be anywhere in the world. They chose St. Louis metropolitan area."

Ernie Goss of Creighton University tracks the Midwest economy. He says the optimism of regional leaders is not unfounded. However, he says St. Louis was hit harder than most Midwestern cities in the recession so there is more ground to be made up.

"Now you're adding jobs, at a faster clip in the weeks and months ahead," said Goss. "I think things are turned around."

Goss says thanks to the medical, agricultural and aerospace industries St. Louis is well positioned in the global but also dependant on international growth. He also sites a strong talent pool in St. Louis coming out of local universities as a reason to believe more companies will set up shop in the region.

 

KSDK

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