Peabody Energy Will Stay Downtown

Brett Blume

ST. LOUIS, Mo. (KMOX) — Peabody Energy announced Wednesday that they have renewed their decade long commitment to the City of St. Louis. The publicly traded company will remain in the newly-renamed Peabody Plaza at 01 Market St.

Peabody has entered into a new, 15 year lease at the downtown high-rise, increasing its occupied square footage by more than 30% to accomodate a growing workforce.

“We are proud of Peabody’s half-century-plus history as a major employer and civic leader in the St. Louis Community, and we look forward to continuing to power regional growth, even as we expand in the world’s fastest-growing economies,” said Gregory H. Boyce, Peabody Energy Chairman and Chief Executive Officer.

Peabody was offered $10 million in new market tax credits during negotiations with city leaders, but Boyce announced that Peabody will forego that benefit and let City Hall keep the money for other projects.

Peabody will be eligible for roughly $2.5 million in incentives, but only if they increase their workforce as promised.

Peabody is the largest publicly traded company based in St. Louis, with nearly 600 employees.

Copyright KMOX Radio

  • Ed Golterman

    Now this is civic leadership.. I wish them their own success, but hope at least one more Fortune 500 would come downtown or commit to downtown before the end of the year. This is how downtowns ‘come back’. One other thought:

    The Partners doing Kiel Opera House, took great risk. stepped up, were patient with delays and the usual opposition, and are doing it. They will be amply rewarded as they should be.. Unlike the previous ownership who kept all the money when he’ sold’ the name Kiel, I ask the new Partners to consider splitting this as it comes in with the City. Invite the people to this ‘party. The project
    enjoys a substantial percentage of financing from the historic and other tax
    credits. ;

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