Like most in St. Louis, I deeply love this region. Since Jim Drew’s cover story in the St. Louis Business Journal was published, I’ve been reflecting on its exploration of how Detroit transformed its identity through bold initiatives and the backing of billionaire Dan Gilbert. If you haven’t read it, I encourage you to—it’s a compelling look at what’s possible when cities dare to reimagine themselves.
The article posed a powerful question: Can St. Louis reimagine itself with the same bold vision that revitalized Detroit? This question challenges all of us—not just leaders or philanthropists—to consider our role in shaping the future. What legacy will we leave for future generations?
This discussion centers on relevance. Just as we strive to stay relevant personally and professionally, communities must remain vital and attractive. Stagnation isn’t an option—growth and evolution are essential for survival.
The Detroit Model: A Comprehensive Approach
“You can’t just focus on one business at a time, one building at a time… You have to do it in a scale that begins to penetrate the negative perception associated with these downtowns.” – Dan Gilbert
This resonates deeply. In my nearly 30 years of community and economic development work, one constant has been this: transformation requires alignment around a shared vision. Comprehensive strategies—whether collective impact models or public-private partnerships—work best when efforts converge at scale.
The Cataracts That Cloud Our Vision
St. Louis has the raw materials to become an economic powerhouse: a talented workforce, world-class academic and health institutions, a low cost of living, and a growing entrepreneurial spirit. Yet, we’re often held back by “cataracts”—outdated mindsets clouded by skepticism and missed opportunities. These perceptions obscure the immense potential before us.
Five Critical Considerations to Guide Our Path Forward
Reflecting on Jim Drew’s article, here are five critical considerations for St. Louis:
- Learn from Success Stories
Detroit’s revival shows the importance of understanding local context, political realities, and coalition-building. St. Louis can adapt these lessons, ensuring strategies align with our challenges and opportunities. - Co-Create a Bold Vision
A shared vision inspires action and pushes us to take calculated risks. St. Louis needs bold leadership willing to align resources and model long-term sustainability, driving measurable growth and shared prosperity. - Ensure Inclusivity
Inclusivity must extend beyond rhetoric. Representation in decision-making and tangible outcomes ensures everyone—not just a select few—shares in progress. - Grow Business and Industry
Economic vibrancy requires thriving businesses. Early-stage support and strategic incentives attract and grow businesses, fostering an environment where entrepreneurs can scale, and industries can diversify. - Invest in People and Place
Downtown St. Louis needs critical mass—of businesses, residents, and visitors. Workforce development and targeted infrastructure investments create ripple effects that reduce crime, attract businesses, and inspire civic pride.
Addressing the Elephant in the Room: Race and Economics
One of St. Louis’ strengths is its people, but addressing race and economic inequities is essential. Progress requires structural changes and cultural shifts, approached with openness, honesty, and a commitment to equity.
Final Thought
St. Louis has the potential to be an economic powerhouse. By investing in people and place, fostering bold leadership, and embracing inclusivity, we can create a thriving, vibrant city. The time to act is now. Let’s build the city we want to leave for future generations.
It Matters Where You Bank.
Originally published in the St. Louis Business Journal on January 24th, 2025 by Orvin Kimbrough, Chairman and CEO at Midwest BankCentre.