The Missouri Development Finance Board has advanced plans to issue $4.1 million of bonds to support Wells Fargo Advisors’ $33 million plan to expand its downtown St. Louis campus.
Wells Fargo employs 4,500 in downtown St. Louis and intends to add another 400 jobs in the next few years. It also plans to renovate its existing space.
Missouri is providing the borrowing assistance through the BUILD Missouri bond program designed to provide incentives for job creation. The bonds are part of a larger state economic development aid package of $12.6 million that includes tax credits.
“This expansion, and the 400 jobs the company plans to create, is excellent news for the state of Missouri. It is also another strong indication of the continued positive direction of our state’s economy,” Gov. Jay Nixon said in a statement.
Wells Fargo inherited the campus from its merger with Wachovia in 2009.