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Business

(via Flickr/The Confluence)

"When they aren't moving, they aren't creating any revenue."

It’s around 8:30 on a chilly morning and workers are starting their day at America’s Central Port on the East Saint Louis side of the Mississippi River.

Under a steady drizzle they blast clean barge hulls with massive power washers.

In a suit and tie the port’s Executive Director Dennis Wilmsmeyer is a sharp contrast to bearded workers wearing Carhart overalls.

He takes a wide stance on top of barge that rocks back and forth.

Arch Grants aims to anchor start-ups in St. Louis

Jan 24, 2012

Ten grants are up for grabs for new businesses that set up shop in St. Louis. A local non-profit, Arch Grants, says it will award the $50,000 grants this May in an effort to bring innovative businesses to the city.

Arch Grants Co-founder Joe Schlafly said the for-profit start-ups that are selected will be required to stay for at least one year.

“St. Louis is not a dog-meat, down place," Schlafly said. "It is a place where things are happening. We’re open for business. We want to be on the short list, not just [on] no list.”

Ill. legislative committee OKs smaller tax-break package

Nov 28, 2011
(via Flickr/jglazer75)

Updated 3:47 p.m.:

A package of tax breaks for Illinois businesses made it through a legislative committee despite major concerns by lawmakers.

The House Revenue Committee approved the measure 6-0 Monday. But two important legislators said they may oppose the bill when it comes up on the House floor.

The package would cost state government about $250 million a year. That's down from $850 million in an earlier proposal.

(via Flickr/David_Shane)

The Supreme Court of Missouri has rejected a constitutional challenge to a 2010 law that put strict limits on the way businesses like strip clubs and adult bookstores can operate in the state.

(UPI/Bill Greenblatt)

Missouri Gov. Jay Nixon says a business incentive bill passed by the House has widened the differences with the Senate in a special legislative session.

Nixon said Tuesday that he prefers the Senate version of the legislation but hopes lawmakers can still settle their differences and send him a bill.

Republican senators were to meet privately later Tuesday to discuss the legislation passed last week by the House.

Mo. House panel advances business incentive bill

Oct 5, 2011
(via Flickr/dbking)

A Missouri House committee has advanced legislation offering new incentives for some businesses and international exporters.

The vote Wednesday by the House Economic Development Committee could pave the way for the full chamber to debate the bill Thursday.

The plan creates incentives for computer data centers, amateur sports events and air cargo exports at the St. Louis airport. It also scales back some existing tax credits, but not as much as proposed under a version passed last month by the Senate.

Morning headlines: Wednesday, October 5, 2011

Oct 5, 2011
(Rachel Lippmann/St. Louis Public Radio)

RCGA: Economic impact of first-round playoffs $5.2 million

The St. Louis Regional Chamber and Growth Association says the economic impact of the Cardinals in the first-round playoffs approaches $5.2 million per game, based on the typical game drawing a capacity crowd.

The association says that if the Cardinals played all possible games through the World Series, the impact would approach that of having the 2009 All-Star Game in St. Louis at more than $56 million.

State high court hears arguments on adult business restrictions

Sep 7, 2011
(Marshall Griffin/St. Louis Public Radio)

The Missouri Supreme Court heard oral arguments today in a lawsuit that challenges the constitutionality of new restrictions on strip clubs, adult video stores, and other adult businesses.

Nixon announces programs to aid Joplin businesses

Jun 24, 2011
(UPI/Tom Uhlenbrock)

The Missouri Department of Economic Development will use $50 million in bond money to help Joplin-area manufacturers recover from the May 22 tornado.

Gov. Jay Nixon was in Joplin Friday to announce $75 million in awards and modifications of existing programs aimed at helping business and industry in the Joplin area. Two-thirds of that funding comes from Private Activity Tax Exempt Bond capacity that has been set aside to aid the region.

132 now dead, 156 unaccounted for in Joplin, 4,000 jobs affected by tornado

May 27, 2011
(UPI/Tom Uhlenbrock)

The state of Missouri says the number of people missing or unaccounted for since the Joplin tornado is now at 156.

Missouri Department of Public Safety deputy director Andrea Spillars said Friday that officials are working 24 hours a day to trim the list that stood at 232 a day earlier.

Here is a link to the updated list of those unaccounted for.

Arch starts offer for International Coal shares

May 16, 2011
(via Flickr)

Arch Coal Inc. says it's started $14.60 a share tender offer for rival International Coal Group.

Arch says the offer that started Monday expires June 14.

The St. Louis-based coal industry giant agreed to buy ICG for $3.4 billion May 2.

The deal is designed to exploit growing demand for high-priced coal used to manufacture steel. Arch says the combined companies would be the nation's second largest supplier of metallurgical coal.

Ill. budget woes mean long waits for tax refunds

Apr 27, 2011
(via Flickr/jglazer75)

Illinois businesses waiting for long-overdue tax refunds aren't getting any good news from the state capitol.

Illinois owes about $850 million to roughly 36,000 businesses that overpaid their income taxes. Some have been waiting since 2008 to get their money.

Gov. Pat Quinn proposed borrowing money to pay the refunds, but legislators have shown little interest in that idea.

Budget proposals being considered by Democratic lawmakers would do little to chip away at the backlog.

Peabody Energy's 1Q earnings rise

Apr 19, 2011
A view of the outside of the Peabody Energy building in St. Louis.
St. Louis Public Radio

Peabody Energy Corp. says its profit rose in the first quarter due to higher prices for Australian coal used in steelmaking and increased demand in the U.S.

The world's biggest private-sector coal company says its net income attributable to common shareholders was $176.5 million, or 65 cents per share, in the January-March period. That's up from $133.7 million, or 50 cents, a year earlier.

St. Louis-based Peabody says first-quarter revenue rose 15 percent to $1.74 billion from $1.51 billion the previous year.

Job growth has been increasing faster for men than women

Apr 7, 2011
(via Flickr/Seabamirum)

The "Mancession" of 2009 is finally giving way to a "Mancovery." But the jobs picture for women is going in the opposite direction.

Check out this feature about gender asymmetry in the jobs "recovery" from our own Adam Allington. It aired on Marketplace Morning Report today.

Nixon: Mo. gets $27 million in incentives program

Mar 22, 2011
(UPI/Bill Greenblatt)

Updated at 1:10 p.m.  March 22, 2011 with comment from Nixon.

Missouri is receiving $27 million in federal money to boost small business growth and job creation.

The State Small Business Credit Initiative supports state-level, small business lending programs and is part of the Small Business Jobs Act signed by President Obama last fall.

Cherokee Street flag contest announced

Mar 21, 2011
(via Flickr/pasa47)

The artistic community of St. Louis' Cherokee Street is looking for someone creative to put their own mark on the area. Via the Cherokee Street News, the Cherokee Station Business Association has announced a "Cherokee Street Flag Contest."

AT&T to buy T-Mobile USA for $39 billion

Mar 21, 2011
(via Flickr/pasa47)

AT&T Inc. is about to become the largest cellphone company in the U.S. The company says it will buy T-Mobile USA from Deutsche Telekom AG in a cash-and-stock deal valued at $39 billion.

Right now AT&T is the second largest wireless carrier, behind only Verizon Wireless. AT&T expects its acquisition to take a year to close.

(via Flickr/Rob Lee)

The number of black-owned businesses in Missouri increased sharply, by 47 percent, from 2002 to 2007, the St. Louis Business Journal reports.

Those numbers are according to data released this month from the U.S. Census Bureau’s 2007 Survey of Business Owners.

UPDATE: 3:30 p.m. Jan. 24, 2011

The St. Louis Business Journal reports that Smurfit-Stone will lose its dual headquarters of in Creve Coeur, Mo. and Chicago when it is acquired by RockTenn.

The new combined company will be based out of RockTenn’s headquarters in Norcross, Ga., the Business Journal reports.

A report by Dan Verbeck, KCUR

Workers at the Ford plant in suburban Kansas City received good news today from the automaker and Missouri's governor.

The number of full-time jobs will hold steady and the plant will make a $400 million expansion with help from the state.

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