Empower. Develop. Transform: A Vision for St. Louis’ Future

by Neal Richardson

Neal Richardson, a St. Louis native and resident, is the President & CEO of St. Louis Development Corporation (SLDC), the independent economic development agency serving the City of St. Louis.

Empower. Develop. Transform. These three words define the essence of the St. Louis Development Corporation (SLDC). Since its inception in the 1970s, SLDC has been a driving force for economic growth and community development. As someone who grew up in the Lewis Place neighborhood and worshiped at Antioch Baptist Church in the Ville neighborhood of North St. Louis, I intimately understand the significance of organizations like SLDC in fostering meaningful change. Under my leadership, SLDC is doubling down on its mission to bridge the socioeconomic gaps that have held St. Louis back for too long. Together with our partners, we are turning vision into action daily through the Economic Justice Action Plan.

Today, as we celebrate National Philanthropy Day, I am inspired by the transformative power of collaboration. St. Louis is at a crossroads. Decades of disinvestment and inequities have left scars on our communities, with cycles of poverty and exclusion impacting countless lives. But we stand on the brink of change. At SLDC, we see opportunities where others see challenges. We see the chance to rewrite St. Louis’ story and pave the way for a more inclusive and prosperous future.

Our HomeSTL Homebuyer Assistance Program is just one example of an innovative initiative that helps build wealth and stability for families. By providing financial assistance to first-time homebuyers, particularly in historically underserved areas, this program has already empowered 27 families with $1.2 million in support, generating nearly $5 million in mortgages. These new homeowners aren’t just purchasing properties; they are building legacies and planting roots that will strengthen our city for generations to come.

Economic empowerment also means creating opportunities for small businesses and contractors, the backbone of our local economy. Through MobilizeSTL, we’ve committed $1.4 million and aim to raise $3.6 million more to provide bridge loans for minority- and women-owned contractors. These funds are essential for navigating funding delays in large-scale projects, ensuring that small businesses thrive while contributing to the growth of our city.

In addition, our ScaleUpSTL loan program is a beacon of hope for entrepreneurs and nonprofits. Backed by seed funding from the James S. McDonnell Foundation and BJC HealthCare, this program is designed to provide $25 million to over 50 small businesses by 2026. With partnerships like these, we’re proving that when public, private, and philanthropic entities unite, the results can be transformative.

Philanthropic leaders, such as the St. Louis Community Foundation, other local foundations, anchor institutions, and national funders, are playing an important role in this effort. Together we’re building a multi-faceted initiative to revitalize neighborhoods, increase access to quality jobs, and expand economic opportunity. This collaborative spirit is the heartbeat of our shared vision for a stronger, more equitable St. Louis.

We know that the challenges facing our city are deeply rooted in history. Generations of systemic injustice have left an undeniable mark. But as Sam Cooke once sang, “A Change is Gonna Come.” That change is already underway. It’s in the determination of new homeowners finding security for their families. It’s in the resilience of small business owners creating jobs in their neighborhoods. And it’s in the partnerships we’ve forged to ensure every resident, regardless of their zip code, has a fair shot at success.

At SLDC, we’re not just planning for the future—we’re building it. Together, we will empower, develop, and transform St. Louis into a place where everyone can thrive. Let this be our call to action: to lead with courage, to invest with purpose, and to dream boldly. The best days for St. Louis are ahead, and we are ready to build.