Scottrade seeks tax abatement for $82 million expansion

From The ST. LOUIS POST-DISPATCH, July 19, 2008
By Jerri Stroud

Scottrade Inc., the discount brokerage based in St. Louis County, plans to ask the County Council Tuesday for a $10.7 million tax abatement on a new $82 million office building and garage.

Scottrade plans to add 200,000 square feet of office space and a parking garage to its headquarters near Interstate 270 and Manchester Road.

The broker started talking to county planning officials about the expansion about 10 months ago. However, it has not decided when it will start construction, said Kelly Doria, a spokeswoman.

Scottrade expects to add about 600 jobs to its headquarters over the next few years, according to the St. Louis County Economic Council. The brokerage already employs more than 800 at its headquarters, a data center and several branches here.

Rodger Riney, president and chief executive of Scottrade, said the new building will support the broker's expanding number of branches and the growth of its online business.