The St. Petersburg City Council approved an incentive package to help ensure Foot Locker selects the city as the location for its new global headquarters. This decision came amidst the brief window between Hurricanes Helene and Milton.

In a 7-2 vote, the council agreed to provide up to $475,000 to the Fortune 500 company. Foot Locker had already announced on August 28th that it plans to relocate its headquarters from New York City to St. Petersburg.

According to Brian Caper, the city’s economic development director, Foot Locker will choose one of two potential office buildings in the Gateway Area of north St. Petersburg by the end of 2024. Caper expects the company to invest $20 million in capital improvements.

Councilmember Brandi Gabbard highlighted the strong return on investment, noting that the $475,000 incentive package would generate a $37 million economic output through job creation.

Employees are expected to begin relocating to Pinellas County next summer, with the new headquarters operational by fall 2025. Foot Locker is required to create 150 net new jobs with an average annual salary of at least $120,000, generating $18 million in new earnings. These jobs will also have an indirect economic impact of $5.04 million.

While Councilmember Richie Floyd criticized the agreement as “corporate welfare,” Councilmember Lissette Hanewicz expressed confidence that the majority of St. Petersburg citizens support the city’s efforts to attract new businesses and expand the local economy.