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GOP Convention Didn't Bring Permanent Businesses

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Jan 10, 2009 11:19 am US/Central

GOP Convention Didn't Bring Permanent Businesses

ST. PAUL (AP) ― The Republican National Convention brought thousands of visitors to St. Paul but hasn't helped the city build its permanent business base.

That's according to a new report from commercial real estate firm Colliers Turley Martin Tucker. The annual report says office vacancies in downtown St. Paul have grown from 26.7 percent to 27.9 percent -- and the growth would be greater except two vacant buildings are no longer being counted because they are being converted to other uses.

The report says about 50,000 square feet used for the Republican National Convention is now empty and adding to the vacancy rate.

Moves by Educational Credit Management Corp. and the federal courts also added to the count.

The report says no new developments in downtown St. Paul are expected in the near future.

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The Republican National Convention was held at the Xcel Energy Center in St. Paul from Sept. 1 through Sept. 4, 2008.

(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

© MMIX, CBS Broadcasting Inc. All Rights Reserved.