ST. LOUIS — On 314 Day, a date symbolic of their city's area code, St. Louis leaders gathered to commemorate not just their city's unique culture but also to lay down the foundation for a transformative economic justice initiative.
In a significant announcement made on Thursday, members of the St. Louis Development Corporation provided updates on a multi-million-dollar project aimed at revitalizing the community by addressing deep-seated needs.
In the heart of north St. Louis, what was once considered an eyesore is now the focal point of a visionary project expected to become a formidable economic engine.
A new training facility will stem from the Economic Justice Accelerator fund designed to leverage public funding, private equity and philanthropic investment to sustain the Economic Justice Action Plan through and beyond 2026.
Situated strategically near Metro Transit, the project is seen as a pivotal development for the Martin Luther King corridor.
Neil Richardson, president and CEO of the St. Louis Development Corporation, highlighted the project's significance, saying, "This project, as it is situated close to Metro Transit, makes a connection point and will be a catalyst for redevelopment on the MLK corridor."
The future Center for Economic Mobility, which is the centerpiece of this initiative, is made possible through millions of dollars from the American Rescue Plan. This center is not just a building; it is a beacon of hope for reversing decades of disinvestment in the region.
During the event, the importance of the center and its mission was underscored by the announcement of three new products and programs designed to provide accessible, affordable capital for women and small minority-owned businesses and economic groups, including St. Louis Community Credit Union to help streamline access for the funding.
Mayor Tishaura Jones emphasized the commitment of her administration towards economic justice, stating, "Since I was elected, my administration has been hard at work at economic justice to make changes that St. Louisans can feel and see every day."
The 150,000-square-foot industrial building is set to be a game changer in north St. Louis.
The center aims to attract partners from across the region and the nation to provide on-the-job training for the youth, the unemployed, and the underemployed in St. Louis. The objective is to offer more than just living wage jobs—to offer thriving wage jobs. Richardson shared the ambitious goal of opening the building by 2025.
In Richardson's words, "No other day than to do it on 314 Day, celebrating the future of St. Louis."