ST. LOUIS — A new jobs planned unveiled Thursday by the region's soon-to-be-merged economic development group envisions "inclusive growth" — and an emphasis on rebuilding St. Louis' core.
The organization, Greater St. Louis Inc., said the draft report marks the first of its kind in more than 10 years. Civic Progress, one of five organizations merging to create Greater on Jan. 1, paid consultant New Localism Associates, led by Bruce Katz, $885,000 to complete the work, an official said.
Greater St. Louis officials said the document, known as "STL 2030 Jobs Plan: Driving a Decade of Inclusive Growth," would guide its work.
It says St. Louis must realize greater equity in opportunities and outcomes by increasing quality jobs and reducing racial disparities "that have undermined metropolitan performance for decades." It added that "systemic racism has seriously compromised the regional economy."
Another problem, it says, is "decentralization" in St. Louis." Downtown "bears little resemblance to other U.S. metros, many of which have seen substantial growth in core central business districts over the past 25 years," it says.
The plan also pointed to bright spots, such as a series of industries it says show potential to drive growth: advanced business services; biomedical and health services, advanced production; aerospace vehicles, automative and defense; and transportation distribution and logistics. Those represent 40% of employment currently, it said.
And before the pandemic, St. Louis' GDP was growing 4.2%, behind the national average of 5.8% but an uptick from previous years and comparable with peers.
To continue that momentum and fix the aforementioned problems, it recommends:
- Having anchor institutions commit to buying, hiring and investing locally, with emphasis on underrepresented groups. "These commitments will help anchors set goals and determine how their internal processes need to evolve in order to make these aspirations a reality," it said, adding that capital will be needed to support critical elements of the plan.
- Extending the boundaries of the region's core to north of Delmar Boulevard, create 50,000 jobs over the next 10 years and regenerate commercial corridors.
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