Edward Jones expands in St. Louis; receives state and local tax breaks
By Matt Sepic, KWMU
St. Louis – St. Louis-based investment company Edward Jones is receiving nearly $4 million in state tax incentives as part of a major expansion plan.
Edward Jones plans to add 1,000 jobs and construct three new office buildings at its Maryland Heights campus.
The company will also give some of its land to the state, so the Missouri Department of Transportation can rebuild the interchange at I-270 and Dorsett Road.
Governor Matt Blunt says public-private partnerships like this are necessary to attract and retain jobs in Missouri.
"In a perfect world, there might not be any incentives," Blunt said. "But we're not in a perfect world. We're in a world in which we're competing with other states, and I'm sure they would be very pleased to have a company like Edward Jones come in and bring in good paying jobs, jobs that have very little environmental impact."
Edward Jones also agreed to buy $7 million in state revenue bonds, and will get additional tax breaks from St. Louis County.
Construction on the Dorsett interchange is likely to start in 2010.