Missouri board backs tax credits for Gateway Arch
JEFERSON CITY, MO (AP) – A Missouri board has endorsed up to $15 million of tax credits to help finance the redevelopment of the Gateway Arch in St. Louis.
The tax credits approved Tuesday by the Missouri Development Finance Board would be used to leverage private contributions for the renovation and expansion of a museum at the Arch. Approval is still needed from several state department directors.
The Gateway Arch was completed in 1965 and attracts about 2.5 million visitors annually. The Arch and its surrounding area are in the midst of a $380 million renovation.
While approving aid for the Arch, the state board decided to delay consideration of two other projects in Kansas City and one each in St. Louis and St. Joseph. The board cited uncertainty over state revenues.