News Summary
Foot Locker has announced it will relocate its global headquarters from Manhattan to St. Petersburg, Florida, by August 2024. This significant move is set to create 150 new jobs, stimulate local economic growth, and make St. Petersburg the third city to host a Fortune 500 company in the area. The decision is a testament to Foot Locker’s 30-year history in the region and aligns with the city’s evolving economic landscape, promising a bright future for its residents.
St. Petersburg Welcomes Foot Locker’s Global Headquarters: A Game Changer for the Economy!
Exciting news is brewing in sunny St. Petersburg, Florida! Foot Locker has announced its plans to pack up its global headquarters and relocate from the hustle and bustle of Manhattan to the vibrant shores of St. Pete by August 2024. This isn’t just a significant move for the company; it’s a huge win for the local economy, promising to create jobs and stimulate financial growth.
A Big Shift for Foot Locker
Foot Locker currently calls an office in the Franklin Templeton building on 140 Fountain Parkway home, but come next year, it will transition into a new space in St. Petersburg. The city will officially welcome Foot Locker as its third Fortune 500 company, joining the ranks of other big players like Jabil and Raymond James. This makes for a more robust economic environment in the area, setting the stage for increased opportunities.
The Magic of History
This decision isn’t just a random choice; Foot Locker has deep roots in St. Petersburg, with a rich 30-year history in the area. The company’s objective isn’t merely to relocate but to establish a “beacon to attract talent”. What could be better than making St. Pete a central hub for skilled professionals?
Your New Jobs Alert!
As part of the relocation, St. Petersburg has put together an attractive incentive package for Foot Locker, offering up to $475,000 which hinges on the creation of 150 new jobs. These jobs will pay an average salary of at least $120,000. Imagine the wave of talented individuals flocking to St. Petersburg, eager to jump into roles in merchandising, financial planning, accounting, supply chain management, digital e-commerce, and data analytics!
Money Matters
The economic forecast looks bright! With this move, economic officials project Foot Locker will generate an impressive $18 million in new earnings and add approximately $37 million in overall economic output. Plus, the company is prepared to spend $20 million on capital improvements for its new headquarters. Talk about investing in the community!
Great News for St. Petersburg
The excitement surrounding Foot Locker’s new headquarters is a testament to the incredible progress St. Petersburg has made over the years. City officials are recognizing the hard work put in by the St. Petersburg Area Economic Development Corporation, which has been instrumental in attracting major companies to the area. Just last year, the EDC reported creating 185 target industry jobs, and now with Foot Locker’s arrival, it seems like that trend is only going to continue.
Joining a Trend
Foot Locker’s move adds to a recent trend where multiple corporations are choosing to relocate their headquarters to St. Petersburg, following the steps of other businesses like the retail investing platform, WeBull, which moved from New York to St. Pete in November 2022. Clearly, St. Petersburg is becoming a magnet for growth and innovation!
What’s Next?
As Foot Locker works towards establishing its new office, decisions will be made soon. The company plans to choose between two potential office buildings located in the Gateway Area of north St. Petersburg by October 2024. This new headquarters is part of Foot Locker’s strategic growth initiative, known as the “Lace Up Plan”. In short, there’s a lot to look forward to!
A Broader Economic Picture
The excitement around Foot Locker’s relocation also aligns with ongoing discussions about broader economic impacts in the region, especially related to maintaining or relocating the Tampa Bay Rays. All of this points to a dynamic and bright future for St. Petersburg.
So, get ready, St. Pete! With Foot Locker setting up shop, the community is in for an exciting ride full of new opportunities and growth!
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Additional Resources
- St. Pete Catalyst
- Business Observer
- St. Peterising
- I Love The Burg
- Google Search: Foot Locker St. Petersburg
Author: STAFF HERE PETERSBURG WRITER
ST PETERSBURG STAFF WRITER The ST PETERSBURG STAFF WRITER represents the experienced team at HEREStPetersburg.com, your go-to source for actionable local news and information in St Petersburg, Pinellas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Grand Prix of St. Petersburg, Localtopia, and SHINE Mural Festival. Our coverage extends to key organizations like the St. Petersburg Area Chamber of Commerce and St. Pete Downtown Partnership, plus leading businesses in finance, manufacturing, and healthcare that power the local economy such as Raymond James Financial, Jabil, and Bayfront Health St. Petersburg. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
