Stifel Financial last week announced preliminary plans to purchase its current headquarters in downtown St. Louis and seek some public funds to support it.
The firm said it would expand its offices there and add 225 jobs over the next three years.
“With the growth we are experiencing in our business, it made sense for us to act now and secure the space necessary to support our growing firm,” Stifel president Ronald Kruszewski said in a statement.
Stifel hopes to help finance the deal with $2.8 million in borrowing through the Missouri Development Finance Board under a state program known as Build Missouri Bonds, and various city and state tax credits, according to published reports.
“This is very exciting and wonderful news for the city of St. Louis,” city Comptroller Darlene Green said in statement. “Stifel has a long-standing, respected presence in our downtown, and its decision reflects how St. Louis is a friendly and welcoming place for business.”