Thrive
Gas Plant ‘a catalyst’ for Foot Locker HQ move
Foot Locker announced its global headquarters would relocate to St. Petersburg less than a month after the Tampa Bay Rays received approval to reimagine the Historic Gas Plant District.
Local leaders have long preached that the $6.5 billion redevelopment project would attract high-profile corporations and jobs. Netting a Fortune 500 company while the ink is still wet on agreements seemingly validates their investment thesis.
Key stakeholders spoke with the Catalyst following Foot Locker’s announcement Wednesday that it will move operations from New York City to St. Petersburg. Brian Caper, the city’s economic & workforce development director, believes it was “the first of many.”
“I do think it’s a great example of what this type of development and excitement in the international community can bring to our city,” Caper said. “And I think this is a really good sign of things to come in the city.”
The Rays have not communicated with Foot Locker’s corporate leadership. However, team president Brian Auld also believes the Gas Plant’s redevelopment – anchored by a new $1.3 billion ballpark – factored into their plans.
The team is also rolling out the red carpet long before the global sports apparel retailer relocates in late 2025. Rays officials began developing a digital billboard campaign welcoming Foot Locker to the area Wednesday morning.
Auld called it a “big deal for a Fortune 500 company to be moving down here.” He said the announcement is an opportunity to celebrate St. Petersburg’s progress and business growth.
The city council approved arduously negotiated Gas Plant plans and a $287.5 million subsidy July 18. Pinellas County Commissioners agreed to contribute $312.5 million in tourist development taxes to stadium construction July 30.
“It’s probably within the realm of possibility that if instead of announcing this exciting development project, we’re talking about the Rays relocation process, there might be a little less enthusiasm around companies coming down here,” Auld said. “We are really pleased with what it signals.”
City and Pinellas County economic development officials nearly lured Foot Locker to St. Petersburg in 2021. Despite dual business incentive packages, negotiations stalled after the news prematurely leaked.
Caper said that with the ongoing pandemic and change in mayoral administrations, “it really just did not make sense for the company to move forward with the deal.” While the city’s continued growth kept it somewhere on Foot Locker’s radar, he said it wasn’t a sizable blip.
“I do feel that the Gas Plant project was somewhat of a catalyst for them to come back to the table,” Caper added. “And continue those conversations about relocating to St. Petersburg.”
He noted that the project’s approval garnered national and global headlines. Caper believes that momentum, combined with several recently completed and proposed projects, “reinvigorated” Foot Locker’s leadership.
Local officials are working with site consulting firm JLL to find an ideal site for the company and city. Caper said Foot Locker has agreed to purchase or lease at least 100,000 square feet of office space.
The retailer operates an executive office at 140 Fountain Pkwy. in the Carillon Office Park. However, Caper said Foot Locker could establish its headquarters “anywhere in the city.”
The company is working with Nike to develop expansive “megastores” in cities like New York and Paris. “Foot Locker is a perfect example … from an office space and retail space perspective, we would love to have on that (Gas Plant) site and in our community,” Caper said.
Mike Swesey, president of the St. Petersburg Area Economic Development Corporation (EDC), said he sent a newsletter to roughly 1,000 site selection consultants the day after the Gas Plant project received final approval. He immediately received interest and called the project a “launch pad.”
Swesey noted he had a working relationship with JLL before assuming his role with the EDC in November 2023. He said Foot Locker is looking at multiple options for a new headquarters and could not divulge additional details.
Swesey refrained from confirming or denying that the Gas Plant is a potential location. “I’m not going to say that didn’t help at all, but I’m just not prepared to say that was the reason this catapulted,” he added.
However, Swesey said the project shows corporate leaders that “St. Petersburg is open for business.” He also credited city, county and economic development officials for highlighting how they can work together to attract businesses.
“As long as we keep working collaboratively, we’re going to keep getting wins like this,” Swesey said. “Because companies see that, they notice it and appreciate the fact that we can get things done in St. Petersburg and Pinellas County.”
He said it “feels absolutely great” to help build this momentum after nine months on the job. Swesey believes that retaining the Rays, a new ballpark and recruiting the city’s third Fortune 500 company – Foot Locker will join Jabil, Raymond James Financial and Largo’s TD Synnex – is a marketing advantage that will “build upon itself.”
Swesey said St. Pete will soon have adequate Class A office space to attract large corporations. The city already has an “unmatched” quality of life to entice top talent.
Caper agreed. “Any community would love to be in the position we’re in right now,” he said.
“It’s not every day that a Fortune 500 company is looking at and interested in your community,” Caper added. “The best way I can describe this is a home run coming right after a grand slam – and we are thrilled.”
SB
August 30, 2024at7:35 am
There is no evidence one had any connection to the other. This is a grotesque attempt to link bad public policy with random good news.
How hard would it have been to reach out and ask Footlocker if the stadium deal had anything to do with their decision. 10 minutes total?
Even then, I would not believe for a second it was a significant decision in moving here. More likely it was because one of their divisions was already here. If my memory is correct.
Are people here so ignorant to think that a company is going to make a decision like this because of a baseball stadium?
There is no company or person on earth that would do such a thing.
Under 10 minutes?
Alan DeLisle
August 30, 2024at6:26 am
The Rays deal had nothing to do with the decision. Shameless!! I should know.
Christie Bruner
August 30, 2024at5:16 am
Ad valorem tax exemption at both the city & county level.
Peter John Patras
August 30, 2024at4:12 am
I suspect Cathie Wood’s coming here had more to do with Foot Locker’s decision than the Gas Plant did. In any case, Carillon is a lot more convenient to TPA than the Gas Plant.
Tom Tito
August 29, 2024at8:37 pm
Any details on the “dual business incentive packages”?
John Donovan
August 29, 2024at7:56 pm
It’s good news.