The Clayton Board of Aldermen unanimously approved a tax abatement agreement with Centene Corp. on Tuesday night that paves the way for the fast-growing health insurer to build a huge new office campus for 2,000 additional employees.
An agreement between the Medicaid managed care company and Clayton knocks 40 percent off real property taxes on the new buildings planned in downtown Clayton. Half of the personal property taxes are to be abated.
The vote came despite opposition from some residents, whose complaints included the hefty tax incentives, the lack of a public vote on the plan, congestion from the project and construction noise while it is built.
In all, the agreement is projected to save Centene about $75 million over 20 years, or about $40 million in today’s dollars, on the $772 million project.
Read more: St. Louis Post-Dispatch