ST. LOUIS — The state of Missouri on Wednesday said it would contribute up to $2.9 million in subsidies for a massive production facility planned for Chesterfield.
A spokeswoman for the state's Department of Economic Development said Gateway Studios, the project's developer, has been authorized for that amount in benefits over five years from Missouri Works, a program that incentivizes job creation. Ashton Kever, the spokeswoman, said the award would support the creation of 106 jobs, consistent with previous comments from Gateway Studios' leader. The state said it has also offered Gateway Studios $65,000 in customized training assistance from Missouri One Start, a workforce training program.
Also Wednesday, the state and a private sector business group, Greater St. Louis Inc., gave a development cost for the project for the first time: $111 million.
Trey Kerr, Gateway Studios' CEO, previously outlined other details of the development, describing it as a place for performers to practice before going out on tour, but also a production facility capable of hosting corporate events and film projects.
The 330,000-square-foot facility, which will sit on 32 acres at the west end of the Chesterfield Valley, 18125 Spirit Commerce Drive, could open in spring 2023, Kerr has said. It's to have four studios.
St. Louis County is also aiding the project, as it previously approved at least $88 million to as much as $130 million in Chapter 100 industrial development revenue bonds, plus a 50% abatement on property taxes over 10 years and sales tax exemptions on construction materials and the purchase of personal property.
Click here for the full story.