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Committee advances package to rebate earnings tax on new Anders employees to keep accounting firm downtown
Summary
The HUD committee advanced Board Bill 166 in committee with a committee substitute that would create a rebate of earnings tax on net-new employees hired by Anders, a downtown accounting firm that says it will expand in the city if given a payroll-tax incentive.
The Housing, Urban Development and Zoning Committee moved a proposal, Board Bill 166, from committee with a committee substitute that would rebate up to 85% of the City of St. Louis earnings tax on payroll attributable to new employees added by Anders, a downtown accounting firm seeking to expand.
Sponsor Alderwoman Kara Spencer told the committee Anders has grown from about 200 to roughly 225 employees and plans to add up to roughly 234 new jobs over 10 years while making a planned capital investment of about $2.2 million in its downtown leased space. Greater St. Louis Inc. testified that downtown office vacancy is elevated compared with the broader region and that keeping or growing office employers in the city is a key economic goal; the…
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