There have been a number of companies that have moved out of downtown St. Louis in recent years.
Some of the most notable include:
Bank of America moved its wealth management operations to Clayton in 2021.
Luxco, a liquor distributor, moved its headquarters to Town & Country in 2021.
Elasticity, a marketing firm, moved to the Central West End in 2022.
Missouri Lawyers Media, a legal publisher, moved to Clayton in 2022.
KMOV, a CBS affiliate, is moving to Maryland Heights in 2023.
Polsinelli PC, a law firm, is moving to Centene Plaza in Clayton in 2023.
Brown & Crouppen, a law firm, is moving to The Hill in 2023.
There are a number of reasons why companies have been moving out of downtown St. Louis.
Some of the most common reasons include:
The perception of crime. Downtown St. Louis has a high crime rate, and this has led some companies to relocate to areas with lower crime rates.
The cost of office space. The cost of office space in downtown St. Louis is relatively high, and this has led some companies to relocate to areas with lower office rents.
The lack of amenities. Downtown St. Louis lacks some of the amenities that companies are looking for, such as good restaurants, shops, and entertainment options.
The exodus of companies from downtown St. Louis is a concern for some people. They worry that it will lead to a decline in the downtown area and make it less attractive to businesses and residents.
However, others argue that the exodus is a sign of downtown St. Louis’s maturing. They say that the downtown area is becoming more specialized and that companies are moving to areas that are better suited to their needs.
Only time will tell what the long-term impact of the exodus of companies from downtown St. Louis will be. However, it is clear that this is a trend that is worth watching.