Peabody extends lease terms for Downtown St Louis

"We are proud to continue as a major employer and economic driver in downtown St Louis, contributing to the city's revenue base and supporting local businesses and downtown organisations that benefit all of us," said Glenn Kellow, Peabody Energy President and CEO. "We have a long history as a partner in projects that revitalise downtown, including the CityArchRiver development, Arch Grants economic development and the Peabody Opera House, among other initiatives. Together we are continuing to create a stronger and more vibrant downtown community."

Peabody employs a workforce of more than 380 at its headquarters and nearly 7000 worldwide. In the past year, the company established a St Louis-based shared business services group to serve core global business functions, including sales accounting, procurement, payroll and service management.

In 2015, Peabody paid nearly US$90 million in payroll and benefits to its St Louis employees, and more than US$1.2 million was paid by employees and the company for St Louis city income taxes. The company also generated over US$17 billion in direct and indirect economic benefits globally.

Peabody has supported multiple major St Louis projects and partnerships including the United Way of Greater St Louis, CityArchRiver, the Saint Louis Zoo and Washington University's Consortium for Clean Coal Utilisation, a global centre for clean coal technology research.

"I am very happy that Peabody and its employees will continue to contribute to and enjoy downtown St. Louis," Mayor Francis Slay said. "Peabody has been a great partner and supporter of many major projects that have strengthened our city and region."

"We want to thank Peabody Energy for reinforcing their commitment to the city and our region, and for continuing to provide high-level employment opportunities for the local workforce," said Joe Reagan, President and Chief Executive Officer of the St. Louis Regional Chamber. "Opportunities like these create economic prosperity for the region and help make St. Louis an attractive place for people to live, work and invest."

"Peabody Energy has been a major anchor in downtown St Louis for 60 years, helping foster a growing business district. We appreciate the continued support and are excited that Peabody Energy will remain an important part of our growth plan," added Missy Kelley, President and Chief Executive Officer of Downtown STL.

Read the article online at: https://www.worldcoal.com/power/16122016/peabody-extends-lease-terms-for-downtown-st-louis/