ST. LOUIS — The city of St. Louis has authorized up to $7 million in tax credits for a startup that wants to locate an industrial facility in south St. Louis.
In line to receive the New Markets Tax Credits is Terra Environmental Holdings, or an affiliate company, after a vote Thursday by the board of the city’s economic development agency, the St. Louis Development Corp. Terra was organized in December 2022 by Anthony Smith of south St. Louis County, according to state records.
The startup wants to use the money to help finance the purchase, renovation and equipment for a 27,900-square-foot industrial facility at 3600 S. First St., in the Marine Villa neighborhood south of the Anheuser-Busch brewery along the bluffs of the Mississippi River, according to city filings. The currently vacant 4.5-acre site previously belonged to an affiliate of Chicago-based agriculture giant Archer Daniels Midland Co.
