(Release courtesy of the state of Missouri)
Missouri’s professional services sector continues to grow with 600 new jobs coming to the St. Louis region. On Friday, it was announced that Cushman & Wakefield U.S. Inc. has embarked on a $17.4 million expansion.
“Cushman & Wakefield is a respected leader in commercial real estate and these hundreds of new jobs is a big win for St. Louis,” Governor Jay Nixon said. “This significant investment and continued growth is a testament to the strength of Missouri’s positive business climate for professional services companies.”
Friday’s announcement follows the Missouri Department of Economic Development’s most recent jobs report which showed Missouri’s non-farm payroll employment grew by 4,200 jobs in August, reaching a new record high for the state with 2,821,900 active jobs.
Cushman & Wakefield U.S. Inc., a global leader in commercial real estate services, plans to open an additional 90,000 sq. ft. office in Town and Country. Cushman & Wakefield has been in St. Louis for 90 years, with more than 900 employees already in the area. The company’s global headquarters is located in Chicago with regional headquarters in New York City, London and Sydney.
“This is another example of an industry leading national firm moving good paying positions to St. Louis County,” St. Louis County Executive Steve Stenger said. “It is clear that people are discovering the great business climate and outstanding quality of life in St. Louis County.”
“Downtown St. Louis is enjoying a renaissance spurred by growth up and down Washington Avenue,” St. Louis Mayor Francis Slay said. “I am proud to welcome some of Cushman & Wakefield’s new employees to the City of St. Louis office. They will add to the energy in the district.”
“This expansion is a clear indication of our dedication to the St. Louis community, our employees and our clients,” Cushman & Wakefield Chief Executive, Americas Joe Stettinius said. “Over nine decades, our employees in St. Louis have played a crucial role in the growth of our firm, from both a local and global perspective.”
Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion. The firm operates approximately 250 offices in more than 60 countries and has 43,000+ employees.
“We are pleased that we were able to work with Cushman & Wakefield to ensure that not only were over 900 jobs retained in Missouri, but that an additional 600 will be created here,” Missouri Partnership CEO Steve Johnson said. “Missouri’s skilled labor and the competitive cost of business was key to Missouri keeping and growing a great company.”
To help Cushman & Wakefield U.S. with its expansion, the state offered a strategic economic incentive package that the company can receive if it meets strict job creation criteria.