MLS group may need millions in state tax credits for new St. Louis soccer stadium

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ST. LOUIS – The Major League Soccer ownership group and St. Louis are betting on state tax credits and another $15 million to help assist with the construction of the massive stadium, according to St. Louis Post-Dispatch.

The Missouri Development Finance Board will meet on Tuesday for a special session that could vote on the tax credits.  Along with the $15 million in tax credits expected to be discussed, a second application is expected for another $15 million next month as well.

The meeting is a pivotal moment as construction on the 22,500 seat soccer stadium could start as early as January 2020. As of now, construction plans would put the project on the right track to be completed by March 2022 or when the unnamed team would play its first game.

According to the application, this project would employ roughly 2200 workers and would keep about 640 of those jobs once it is completed. The total price tag for the development is listed at $461 million.

The board is expected to vote on the tax credits at its next meeting on December 17.

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