St. Louis-based Centene will receive a tax abatement on its proposed $772 million office campus, saving $75 million over two decades, St. Louis Post-Dispatch reports.
Unanimously approved by the Clayton Board of Aldermen, the agreement cuts the managed care organization's real property taxes by 40 percent, and half of its personal property taxes will be abated.
Some local residents opposed the decision, citing a lack of public vote on the action and the large tax incentives.
With its expansion, Centene plans to add 1,000 jobs and consolidate another 1,000 positions. It has also proposed building two 30-story office towers by 2020, with one housing a hotel and space for public events and the second providing space for other companies. A third, 25-story office building is being considered as well.
Centene needs to garner design approval for the project to progress, according to the report.