Downtown Business Article in Today's P-D

debaliviere · PostMay 25, 2007#12007-05-25T13:48+00:00

Good stuff. Really good stuff. (Although the headline doesn't make much sense to me)

Companies find profitable to move to stay in downtown

By Riddhi Trivedi-St. Clair

ST. LOUIS POST-DISPATCH

05/25/2007

Downtown St. Louis has been good to Asynchrony Solutions, and city leaders point to it as a model for other businesses.

Since moving to the King Bee Hat building from Earth City in 2001, the software development company has grown to 85 employees from 18.

Asynchrony started with 9,000 square feet on the second floor of the century-old building at 1709 Washington Avenue, not to be confused with the Bee Hat building farther east. It now has 19,000 square feet and occupies the entire first floor, which had been vacant for more than a decade, and a portion of the third and fifth floors.

Asynchrony moved downtown in part because it receives tax benefits not available elsewhere in the area. Local, state and federal officials say tax breaks increase the tax base and revitalize historic buildings. Advertisement

And it appears to be helping to slow down, if not reverse, the tide of companies moving out of downtown to new office buildings in the suburbs.

Link

threeonefour · PostMay 25, 2007#22007-05-25T15:07+00:00

Great article.

Frankly, though, I think working in East St. Louis would be preferable to working in Earth City. The two years I spent working there were nothing short of miserable. And I worked there not long after Office Space was released, so I guess that's why I can relate to that movie so well.

Anyway, even though we haven't had a high-profile move downtown like the one Compuware made in Detroit a few years ago, I'm glad that more small businesses are choosing downtown, and I would think the trend is likely to gain momentum as more space becomes available.

jmedwick · PostMay 25, 2007#32007-05-25T15:20+00:00

^ That is a key point. It seems clear that thus far, residential redevelopment of older buildings i pushing out some small businesses and more importatnly taking off the market spaces that might otherwise be avalible for a move downtown. They key is getting a few of the historic rehabs to be used for office space (Cupples so far comes to mind), creating new space for small offices, or even better a new large office building.

crbswiss · PostMay 25, 2007#42007-05-25T15:24+00:00

The owner of Asynchrony Solutions is the brother of one of my best friends

stlmike · PostMay 25, 2007#52007-05-25T16:12+00:00

I hope no one tries to spin this one into a "the PD is anti city."

threeonefour · PostMay 25, 2007#62007-05-25T16:14+00:00

^ It's been almost three hours since DeBaliviere started this thread. I'm surprised the anti-city card hasn't been played yet.

dweebe · PostMay 25, 2007#72007-05-25T16:20+00:00

ThreeOneFour wrote:^ It's been almost three hours since DeBaliviere started this thread. I'm surprised the anti-city card hasn't been played yet.

...and the "1%-earnings-tax-is-killing-the-city" discussion.

threeonefour · PostMay 25, 2007#82007-05-25T16:22+00:00

^ Good point!

People, it's Friday, and I'm about five hours away from drinking a couple of beers. Let's not discuss the earnings tax!

bonwich · PostMay 25, 2007#92007-05-25T16:54+00:00

ThreeOneFour wrote:^ Good point!

People, it's Friday, and I'm about five hours away from drinking a couple of beers. Let's not discuss the earnings tax!

Hey, you caught us. You'll note in the article that we cite the city "income tax." We were just toying with you.

Of course, I've only posted this because I'm trying to "pick a fight."

innov8ion · PostMay 25, 2007#102007-05-25T17:02+00:00

bonwich wrote:
ThreeOneFour wrote:^ Good point!

People, it's Friday, and I'm about five hours away from drinking a couple of beers. Let's not discuss the earnings tax!

Hey, you caught us. You'll note in the article that we cite the city "income tax." We were just toying with you.

Of course, I've only posted this because I'm trying to "pick a fight."

That Pork Steak article in the PD might have had a tinge of anti-city bias. Who is that writer anyway?

jcity · PostMay 27, 2007#112007-05-27T17:32+00:00

I hope no one tries to spin this one into a "the PD is anti city."

I had to double check if I was really reading stltoday.com. good thing I was sitting down. I think this was a great article.

Rebuilding Communities Tax Credit. The City should send out a brochure on this to EVERY business in the region that's NOT located in the city.

http://stlouis.missouri.org/sldc/busdev/rebtax.html