St. Peters business park welcomes newest distributor, projects $600 million in total investment by 2024

Premiere 370 business park is currently home to 12 buildings, bringing $430 million in investment to the city of St. Peters and St. Charles County.
Published: Sep. 12, 2022 at 6:34 PM CDT
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ST. PETERS, Mo. (KMOV) - Nearly $600 million in investment and subsequent tax revenue is coming to St. Peters, as the Premiere 370 business park expands to include new distributors.

The 850-acre business park can be seen from Highway 370 in St. Charles County, and while it may not get much thought, it’s home to hundreds of millions of dollars in investment, infrastructure and payroll.

“A lot of these logistic companies are looking for long, flat available land that’s ready to go,” said Scott Drachnik, President and CEO of the Economic Council of St. Charles County. “St. Peters was at the right place at the right time with, what was at the time, the largest pad-ready industrial site in all of the state of Missouri.”

In 2001, as part of a master plan for the city, St. Peters purchased the acreage and invested in the necessary utilities before ultimately selling the land in 2006 to a developer for $49.6 million. At the time, it was believed to be a $350 million investment, according to a city spokesperson. However, today the business park has experienced $430 million in investment and anticipates an additional $170 million over the course of the next 18 months.

“People that may not know anything about the industry, as they’re driving by, they probably don’t realize there are 10,000 good jobs in that one location,” Drachnik said.

The park is home to 12 buildings, including an Amazon and Fed-Ex warehouse, which can impact the speed at which regional consumers receive packages, he said.

The park’s newest tenant is Medline, one of the largest wholesalers of medical supplies in the country. Before its official opening this summer, Medline invested $75 million in land, construction and equipment. The 800,000-square-foot distribution center will employ 150 people and is expected to process $250 million in orders during its first year.

“I think we’re competing on a level in terms of the Midwest, we’re all wanting those in the middle of the country,” said Drachnik. “So our goal isn’t to move something from the city of St. Louis or Granite City.”

The millions of dollars generated in tax revenue from across the business park helps to provide better schools, parks and services like police and fire.

“Rather than that tax burden being born out by sales tax or local homes, it is then carried by those big companies that are growing like crazy,” he said.

By mid-2024, the city expects 80 percent of the business park to be full, with the addition of 1.7 million square feet of distribution center space in the next 18 months.