Economy & Innovation

Low-Income Housing
4:38 pm
Mon March 10, 2014

Schweich's Audit Questions Efficiency, Impact Of Low-Income Housing Tax Credit

Credit Provided by the auditor's office

State Auditor Tom Schweich released an audit critical of Missouri’s low-income housing tax credit, saying that the widely used incentive is inefficient and has a “very low” return on investment. 

And the Republican statewide official is hoping the audit will spur the Missouri General Assembly to break a years-long logjam on changing the state’s largest tax credit program.

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JOBS Act
9:40 pm
Sun March 9, 2014

Not Your Father’s Private Investment: BusyEvent Tests New Funding Opportunity

(Flickr/Andrew Magill)

Private investment is important for St. Louis’ burgeoning start-up scene.

Most entrepreneurs will tell you money for seed investment is accessible. The difficulty comes in getting to the next level of investment. Firms such as BusyEvent find second-round funding, amounts between $100,000 and $1 million, is much harder to find.

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Road Work
1:18 pm
Fri March 7, 2014

MoDOT Closes Stretch of I-64 This Weekend

Interstate 64 in St. Louis will be closed in both directions between Kingshighway and Forest Park Avenue starting at 8 p.m. tonight (Friday). That includes eastbound highway ramps from McCausland Avenue to Papin Street and westbound ramps from Grand Avenue to Pine Street.

Missouri Department of Transportation engineer Deanna Venker said road crews will be working through the weekend on building a new interchange at Tower Grove and Boyle avenues.

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St. Louis on the Air
6:11 pm
Thu March 6, 2014

Business Partners Plan Mental Health Facility For Veterans With A Commmunity Approach

Ribbon cutting ceremony for River Trace Townhomes, an apartment complex for the families of veterans receiving treatment at Oasis Residential@Emerson.
(Courtesy AnthemUSA)

Plans are coming together for Oasis Residential@Emerson, a new supportive living community in St. Louis for veterans and other individuals with mental health issues, said business partners Sherman Strong and Kendall Brune.

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Economy & Innovation
11:43 am
Thu March 6, 2014

Scott AFB To Shrink With Pentagon Budget Cuts

The Belleville Gate entrance to Scott Air Force Base near Belleville, Ill. (via Wikimedia commons/SSGT CHAD R. GANN, USAF)

Scott Air Force Base was not caught off guard by the smaller defense budget proposed earlier this week. On Tuesday, Secretary of Defense Chuck Hegel gave Congress his $496 billion dollar budget, which calls for cutting the military's size, reducing benefits for troops and scaling back spending on military equipment.

For the Air Force, the new budget means an 8 percent reduction in personnel across the board, a move Scott Air Force Base anticipated.

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Miltary spending and Boeing
5:19 pm
Wed March 5, 2014

Defense Budget Excludes Boeing's F/A-18 Fighter Jets

Boeing's F/A-18 Super Hornet.
(U.S. Navy/ by Mass Communication Specialist Seaman Stephen G. Hale II/Released)

Boeing’s F/A-18 fighter jet built in Hazelwood was left out of the Pentagon’s $496 billion proposed budget for fiscal year 2015.

With no additional funding for the Super Hornet and Growler jets  the production lines are expected to shut down by the end of 2016, putting thousands of jobs at risk.

Boeing official said in a statement that they were disappointed.

The company called the aircraft "the backbone of the Navy’s carrier air wings" and said it would work with Congress to add funding for the jets.

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Trade
12:06 pm
Wed March 5, 2014

Nixon Announces Trade Accord Between Missouri and Quebec

Gov. Jay Nixon is in Canada this week on a trade mission.
Credit UPI/Bill Greenblatt

Missouri has signed a memorandum of understanding to boost trade with Quebec. 

Speaking to reporters from Toronto on Wednesday, Gov. Jay Nixon said Missouri and Quebec signed an agreement to boost trade over the next four years by 15 percent. The agreement, according to a press release from Nixon’s office, was signed by Québec Minister of Industrial Policy Élaine Zakaïb and Missouri director of Economic Development Mike Downing.

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Educational Ties
9:11 pm
Tue March 4, 2014

Commentary: Community College Innovation Builds Skilled Biotech Workforce

Eilene Lyons
Credit Provided by Ms Lyons

The seeds for the St. Louis biotech boom began as early as 1998 when St. Louis leaders recognized a perfect confluence of key ingredients for growth in plant and life sciences: the geographic location in the nation’s cropland; an abundance of scientific research institutions, including Washington University, St. Louis University and the Columbia and St. Louis campuses of the University of Missouri; and many successful scientific companies such as Monsanto, Sigma-Aldrich, Novus and Covidien.

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Economy Rundown
9:43 pm
Mon March 3, 2014

Economy Rundown: The Weather And What To Do About It

Weather so cold it freezes the baseball statues and hurts the economy.
Credit (UPI/Bill Greenblatt)

As I write this post, the temperature outside is barely tipping double digits; many of my colleagues are scratching their heads over the very inaccurate weather forecast that was supposed to blast us with six to 12 inches of snow; the rest are trying to figure out why their children’s school districts closed today.

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Economy & Innovation
9:42 pm
Mon March 3, 2014

Commentary: Working Women Explain Much Of The Change Since 1960 In Income Distribution

More women are graduating from college and getting high-paying jobs.
Credit Marinela

Income inequality in the United States is a hot-button political issue in this mid-term election year. Advocates for substantial increases in the minimum wage, for instance, believe that imposing higher wages on employers will reduce poverty and lessen income inequality. The evidence just does not justify this claim. Workers who remain employed after the increase are made better off on the backs of those workers who face reduced hours or unemployment following government-mandated wage hikes.

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