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ICL Specialty Products on Tuesday received a $1 million boost from a state economic development fund as part of the more than $570 million manufacturing facility now being planned in the city’s industrialized riverfront.

The project, expected to create 150 new jobs at a site at 460 East Carrie Avenue, also is receiving aid from the federal government and the city, including an $8 million property tax abatement.

The facility had been eyed for a site at ICL’s Carondelet neighborhood but is instead going to a site north of downtown that formerly housed construction waste.

During a meeting of the Missouri Development Finance Board, company officials said they were wooed by West Virginia but decided to stay close to their current U.S. base of operations.

“We wanted to keep it in ÃÛÑ¿´«Ã½,â€� said Phil Brown, president of the Israel-based company’s phosphate and food division.

The facility will produce high grade phosphoric acid which will be used in the production of batteries and power storage. It will be the first large scale plant of its kind in the U.S.

“We’re not going to be making batteries there,� Brown said.

Along with creating permanent jobs, the project is expected to employ 400 during the construction phase. Once operating, Brown said the facility will use more electricity than a data center.

Construction is expected to begin early next year; the plant will be operational in 2026.

City bonds

To support the ICL investment, a city development board on Tuesday approved industrial revenue bonds for the company.

Neal Richardson, president and CEO of the ÃÛÑ¿´«Ã½ Development Corp., said the plant will help create a new source of middle-class income for the north riverfront area. The permanent jobs created by the plant are expected to pay an average of $85,000 a year, he said.

“We are starting to see a renaissance of our advanced manufacturing industries in north ÃÛÑ¿´«Ã½ city that will drive growth across the entire region, creating jobs in our neighborhoods that have seen historically marginalized disinvestment,â€� Richardson said.

Tracy Henke, chief operating officer of the Advanced Manufacturing Innovation Center ÃÛÑ¿´«Ã½, called the new facility a “tremendous opportunityâ€� for the region.

She cited the recently opened $180 million expansion consumer products manufacturer Procter & Gamble unveiled in September and innovation at smaller companies like Evertrak, which make railroad ties from recycled materials.

“We firmly believe that ÃÛÑ¿´«Ã½ is ripe with manufacturing growth opportunities,â€� Henke said. “This city is founded on manufacturing.â€�

In 2022, ICL Group received nearly $200 million of federal grant money to help build the new plant, originally slated for the Carondelet campus. The company already employs over 300 workers in the ÃÛÑ¿´«Ã½ region, which includes its research and development center in Webster Groves and its North American headquarters.

“ICL Group’s expansion is exciting news for ÃÛÑ¿´«Ã½, our state, and our nation’s manufacturing independence,â€� Gov. Mike Parson said in a statement. “When we met in Israel just two years ago, ICL Group demonstrated a commitment to innovation and economic growth that we’re sure will benefit Missourians for years to come.â€�

Other tax credits approved

In addition to the ICL project, the state finance development board on Tuesday gave its approval to several other projects in the ÃÛÑ¿´«Ã½:

• Tax credits totaling $2 million will support plans for Forest Park’s Steinberg pavilion to get a full-service restaurant with hopes of drawing people to the green space year-round. A new splash pad and water fountain will be added as an attraction.

“It is going to be fabulous,� board chairwoman Marie Carmichael said of the Forest Park plan.

• The Sheldon Concert Hall renovation project also will receive state support. The $1 million in tax credits will help assist in the $7.8 million renovation of the facility, including upgrades to second-floor art galleries and expansion of gathering spaces for more youth-focused events.

The Sheldon, which opened in 1912, serves up to 125,000 visitors annually, including 30,000 students.

• The board also endorsed $2.5 million in funding to construct a new, $50 million regional headquarters for the construction and architectural design company. Clayco is renovating a former Express Scripts office.

The company also is pursuing other financial assistance from state and local sources, including a property tax abatement worth $11 million from the city of Berkeley. The company plans to create 400 new jobs and retain nearly 550 jobs.

• The board heard a presentation from the Boys and Girls Club of Greater ÃÛÑ¿´«Ã½, which is seeking $1 million in tax credits to help the organization pay for the $10.9 million transformation of the former Carter Carburetor factory into a community golf and recreation facility.

The north side development includes a 4-hole course, driving range, putting greens and frisbee golf course.

A final vote on the financing is expected in December.