最新杏吧原创

ICL Specialty Products on Tuesday received a $1 million boost from a state economic development fund as part of the more than $570 million manufacturing facility now being planned in the city鈥檚 industrialized riverfront.

The project, expected to create 150 new jobs at a site at 460 East Carrie Avenue, also is receiving aid from the federal government and the city, including an $8 million property tax abatement.

The facility had been eyed for a site at ICL鈥檚 Carondelet neighborhood but is instead going to a site north of downtown that formerly housed construction waste.

During a meeting of the Missouri Development Finance Board, company officials said they were wooed by West Virginia but decided to stay close to their current U.S. base of operations.

鈥淲e wanted to keep it in 最新杏吧原创,鈥� said Phil Brown, president of the Israel-based company鈥檚 phosphate and food division.

The facility will produce high grade phosphoric acid which will be used in the production of batteries and power storage. It will be the first large scale plant of its kind in the U.S.

鈥淲e鈥檙e not going to be making batteries there,鈥� Brown said.

Along with creating permanent jobs, the project is expected to employ 400 during the construction phase. Once operating, Brown said the facility will use more electricity than a data center.

Construction is expected to begin early next year; the plant will be operational in 2026.

City bonds

To support the ICL investment, a city development board on Tuesday approved industrial revenue bonds for the company.

Neal Richardson, president and CEO of the 最新杏吧原创 Development Corp., said the plant will help create a new source of middle-class income for the north riverfront area. The permanent jobs created by the plant are expected to pay an average of $85,000 a year, he said.

鈥淲e are starting to see a renaissance of our advanced manufacturing industries in north 最新杏吧原创 city that will drive growth across the entire region, creating jobs in our neighborhoods that have seen historically marginalized disinvestment,鈥� Richardson said.

Tracy Henke, chief operating officer of the Advanced Manufacturing Innovation Center 最新杏吧原创, called the new facility a 鈥渢remendous opportunity鈥� for the region.

She cited the recently opened $180 million expansion consumer products manufacturer Procter & Gamble unveiled in September and innovation at smaller companies like Evertrak, which make railroad ties from recycled materials.

鈥淲e firmly believe that 最新杏吧原创 is ripe with manufacturing growth opportunities,鈥� Henke said. 鈥淭his city is founded on manufacturing.鈥�

In 2022, ICL Group received nearly $200 million of federal grant money to help build the new plant, originally slated for the Carondelet campus. The company already employs over 300 workers in the 最新杏吧原创 region, which includes its research and development center in Webster Groves and its North American headquarters.

鈥淚CL Group鈥檚 expansion is exciting news for 最新杏吧原创, our state, and our nation鈥檚 manufacturing independence,鈥� Gov. Mike Parson said in a statement. 鈥淲hen we met in Israel just two years ago, ICL Group demonstrated a commitment to innovation and economic growth that we鈥檙e sure will benefit Missourians for years to come.鈥�

Other tax credits approved

In addition to the ICL project, the state finance development board on Tuesday gave its approval to several other projects in the 最新杏吧原创:

• Tax credits totaling $2 million will support plans for Forest Park鈥檚 Steinberg pavilion to get a full-service restaurant with hopes of drawing people to the green space year-round. A new splash pad and water fountain will be added as an attraction.

鈥淚t is going to be fabulous,鈥� board chairwoman Marie Carmichael said of the Forest Park plan.

• The Sheldon Concert Hall renovation project also will receive state support. The $1 million in tax credits will help assist in the $7.8 million renovation of the facility, including upgrades to second-floor art galleries and expansion of gathering spaces for more youth-focused events.

The Sheldon, which opened in 1912, serves up to 125,000 visitors annually, including 30,000 students.

• The board also endorsed $2.5 million in funding to construct a new, $50 million regional headquarters for the construction and architectural design company. Clayco is renovating a former Express Scripts office.

The company also is pursuing other financial assistance from state and local sources, including a property tax abatement worth $11 million from the city of Berkeley. The company plans to create 400 new jobs and retain nearly 550 jobs.

• The board heard a presentation from the Boys and Girls Club of Greater 最新杏吧原创, which is seeking $1 million in tax credits to help the organization pay for the $10.9 million transformation of the former Carter Carburetor factory into a community golf and recreation facility.

The north side development includes a 4-hole course, driving range, putting greens and frisbee golf course.

A final vote on the financing is expected in December.