Centene Corp. ditched plans to build a 1,000-seat civic center in Clayton.
The company was set to receive tax breaks amounting to $75 million over 20 years for the development in the St. Louis area.
While officials did not say why the plans were canceled, they previously said expansion projects in the area would be paused.
Read more from the St. Louis Post-Dispatch.
The Bureau of Labor Statistics reported in May the all-items inflation index surged 8.6% over the past year, the highest increase since 1981.