Footlocker now among companies that ‘become St. Pete’

Myriad local business and civic leaders gathered to celebrate companies that “become St. Pete” Wednesday, a list now highlighted by the arrival of Footlocker.

The athletic apparel conglomerate announced plans to relocate its global headquarters from Manhattan to the Sunshine City in August 2024.

Frank Bracken, executive vice president, was the St. Petersburg Area Economic Development Corporation’s (EDC) keynote speaker for its eighth annual meeting. 

Bracken said Footlocker has six or seven months to establish its office space at a still-undisclosed location. He believes the Fortune 500 company, St. Petersburg’s third, can serve as a “beacon to attract talent.”

“Not everybody from New York is going to make a move down here,” Bracken said. “So, we’re going to be hanging a shingle, looking to hire, looking to recruit. Everything from merchandising, financial planning, accounting, supply chain, digital e-commerce, data analytics, reporting – all the core functions of our company are going to be needed.”

Mayor Ken Welch (right) greets Frank Bracken, executive vice president of Footlocker, with a fist-bump at the St. Petersburg Area Economic Development Corporation’s eighth annual meeting.

In October 2024, Brian Caper, St. Petersburg’s economic development director, said Footlocker would choose one of two potential office buildings in north St. Petersburg’s Gateway Area. He expects the company to put $20 million toward capital improvements.

The city offered an up to $475,000 incentive package that requires the retailer to create 150 net new jobs with an average salary of at least $120,000. Officials believe Footlocker will generate $18 million in new earnings and a $37 million economic output.

The global retailer already maintains an office in the Franklin Templeton building at 140 Fountain Pkwy. Bracken said Footlocker’s 30-year history in St. Petersburg influenced its move.

“New York City is a tough place to do business,” Bracken added. “We really think we can be sort of a big fish in a little bit of a smaller pond – all due respect communicated here.”

Mayor Ken Welch said Footlocker’s decision to call St. Petersburg home exemplifies the city’s “incredible progress.” He credited the EDC and CEO Mike Swesey for playing a “pivotal role.”

The organization works to attract out-of-market companies and helped create 185 target industry jobs in 2024. EDC officials unveiled a new logo they believe represents an invitation to become St. Pete.

WeBull, a retail investing platform valued at roughly $7.3 billion in March 2024, embodies the EDC’s mantra. The company relocated its New York headquarters to St. Petersburg in November 2022.

Swesey, a baseball analogy aficionado, said WeBull’s relocation announcement “was in the singles and doubles category, and now is becoming a home run.” The company bought marketing firm Catalina’s 157,755-square-foot headquarters in the Carillon business park for $29.5 million.

Carlos Questell, chief of staff, said WeBull considered Charlotte, Raleigh, Austin, Denver and Tampa Bay for its new headquarters. “And St. Petersburg stood out for several reasons.”

Mike Swesey (left), CEO of the St. Petersburg Area Economic Development Corporation, and Carlos Questell, chief of staff for WeBull.

Questell said the Carillon facility can accommodate the stock brokerage’s growth plans. He also credited its proximity to airports and the area’s academic institutions.

Questell noted that WeBull has hired 135 local workers since its move. Swesey said the company was the first in 2025 to increase its investment in the EDC.

“We’re a business-friendly location with a warm, inclusive community,” Swesey said. “We have balanced opportunities powered by great talent … and an outstanding quality of life helps attract and retain employees.”

The EDC’s 2024 annual meeting highlighted how keeping or losing the Tampa Bay Rays will create significant economic impacts. While team president Brian Auld attended this year’s sold-out event, the now-tenuous $6.7 billion Historic Gas Plant District’s redevelopment, anchored by a new ballpark, was rarely mentioned.

However, Welch thanked Swesey for his continued advocacy of the generational project. “You were one of the voices I could always depend on to be in the room to talk about how we move forward and progress in our city and county,” Welch said.

“The EDC has been a transformative force, not just for our economy but for our entire community,” he added. “Mike’s vision and ability to bring together businesses, investors and leaders has made a lasting impact on St. Pete.”

The St. Petersburg Economic Development Corporation, from left: Anne Core, vice president of marketing and communications; Colleen Pimentel, operations and events coordinator; Mike Swesey, president and CEO; and Morgan Lazzara, business development and community relations manager.