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DES PERES, MO-The St. Louis County Council will consider a request Tuesday to grant a $17.8-million tax abatement for Edward Jones’ south campus expansion, which includes a 225,000-sf addition and a four-story parking garage. The project is part of the investment firm’s $260 million expansion plan in the state, that includes three new office buildings in Maryland Heights, MO, totaling 650,000 sf, at the company’s north campus.

The company is asking for a 50% abatement on the property taxes for the addition (taxes will continue to be paid on the main south campus building) for a 10-year period. The building is set to be complete by November 2009. The firm will pay about $27 million in taxes until 2020, when the abatement will drop off, and the new taxes will increase by about $4.5 million annually.

County executive Charlie Dooley, backed by the St. Louis County Economic Council, is supporting the request, which will be heard at the county’s 5 p.m. council meeting Tuesday. Dooley said in a statement that the county is fortunate to have a company adding instead of subtracting space. “During a time when the economy is sluggish, Edward Jones continues their growth plans,” Dooley said.

The investment firm has said the expansion plan will add 500 office jobs to the state when completed, and up to 1,000 jobs by 2016. The company has begun the construction of the three buildings in Maryland Heights, and expects a 2011 completion. In a previous interview, a company spokeswoman told GlobeSt.com that the expansion and new hires will help support the growth of its branch office network, which employs more than 10,000 representatives. The firm has also received almost $50 million in incentives, including road development and state tax cuts, for the projects in the two communities.

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