Economy & Innovation

Economy
9:53 am
Tue October 1, 2013

Shutdown Affects St. Louis Workers and Attractions

A sign on the Gateway Arch entrance indicating that it is closed due to the federal government shutdown.
Credit (Bill Greenblatt, UPI)

 Updated 3:35 p.m.

The government shutdown will affect thousands of federal employees in the St. Louis area. But most of them were expected to show up for work today.

Steve Hollis is the president of the American Federation of Government Employees Local 3354 at the U.S. Department of Agriculture. He says workers are being told just to sit and wait.

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Business
4:39 pm
Wed September 25, 2013

Missouri Liquor Law Upheld

Veronique LaCapra/St. Louis Public Radio

A federal appellate court has upheld a Missouri Prohibition-era law that requires residency for alcohol wholesalers.

Miami-based South Wine & Spirits challenged the law arguing it amounted to economic protectionism by the state.

Missouri has a three-tiered system that requires wholesalers based in the state serve as the distributors from those that make beer and alcohol to the retailers that sell it.

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Business
10:35 am
Tue September 24, 2013

St. Louis Boeing Facility Affected As S. Korea Rejects Warplane Purchase Project

The Boeing F-15SE Silent Eagle.
(Boeing File Photo)

Last updated 4:51 p.m. with additional information. 

South Korea says it has rejected Boeing Co.'s bid to build and supply 60 new fighter jets - even though it was the sole contender in the bidding process.

Defense Ministry spokesman Kim Min-seok said Tuesday that South Korea has decided to delay naming a winning bidder for the 8.3 trillion won ($7.7 billion) weapons purchase project.

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Economy
10:24 am
Wed September 18, 2013

Missouri Adds Jobs While Unemployment Rate Increases

(via Flickr/KellyB.)

A new report says Missouri's unemployment rate edged higher last month, while the state gained 6,200 payroll jobs.

The state Department of Economic Development said Tuesday that the August jobless rate was 7.2 percent, up one-tenth of a percentage point from July.

The report says the biggest increase in jobs was in the government sector. It added 5,700 jobs - including 5,000 for local governments. The agency attributes the gains to the early start to the school year.

The education and health services sector added 1,800 jobs.

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Business
4:34 pm
Mon September 16, 2013

KV Emerges From Bankruptcy

Flickr

KV Pharmaceutical Company announced Monday that its reorganization plan is in effect, and it has emerged from bankruptcy.

Based in Bridgeton, the company filed for bankruptcy Aug. 4, 2012.

KV is primarily focused on women’s healthcare, but the company has had struggles in recent years.

That includes a failed lawsuit against the FDA, which refused to prevent competitors from selling a much lower cost version of Makena.

KV initially charged as much as $1,500 for a dose of Makena, which is meant to  reduce the risk of premature births.

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Business
9:49 am
Wed September 11, 2013

Northside Regeneration Moves Forward To Board Of Aldermen

Paul McKee.
(St. Louis Public Radio)

The St. Louis Tax Increment Financing Commission voted to activate the last two phases of the Northside Regeneration project Wednesday morning, which has more than $190 in TIF funding.

Six commissioners voted yes with one, Ken Hutchinson, abstaining.

It now will move to the Board of Aldermen where the Housing, Urban Development, and Zoning committee likely will hear it.

Paul McKee told the TIF Commission at the meeting he has two major industrial users interested in moving into the area bringing a total of 250 jobs.

"TIF helps recruit jobs," McKee said.

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International Business
4:47 pm
Fri September 6, 2013

Quinn Promotes Illinois Business In Japan

Governor Pat Quinn departs today for the annual Midwest U.S.-Japan Association Conference, where he will speak with Japanese business leaders. The governor says he's confident he can drum up support for Illinois business, despite the relatively poor condition of Illinois' economy. 

The most recent numbers, from last month, say 9.2 percent of Illinoisans who are looking for work can’t find it. That’s the second-worst unemployment rate in the U.S., behind only Nevada.

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Home Prices
9:16 am
Wed September 4, 2013

St. Louis Home Prices Rise 5.6 Percent In July

(via Flickr/woodleywonderworks)

The value of homes in the St. Louis region continues to increase.

The St. Louis Post-Dispatch, citing data released Tuesday by the real estate analysis firm CoreLogic, reports that St. Louis-area home prices rose 5.6 percent in July from a year earlier.

For homes not facing foreclosure or already foreclosed on, the increase was 5.9 percent.

Business
4:06 pm
Tue September 3, 2013

Laclede Gas Completes Purchase Of Mo. Gas Energy

(via Flickr/Fergus Randall)

Laclede Gas Co. says it has finalized a $975 million deal to buy Missouri Gas Energy.

Laclede announced Tuesday that the purchase has been completed. The deal combines Missouri's two largest natural gas companies under one entity that will serve more than 1.1 million customers across the state.

St. Louis-based Laclede had served about 630,000 customers in St. Louis and 10 eastern Missouri counties.  Missouri Gas Energy had served about 500,000 customers in about 30 western and central Missouri counties, including the Kansas City, St. Joseph and Joplin areas.

St. Louis on the Air
1:05 pm
Mon September 2, 2013

Encore: St. Louis Businesses Contributed To War Effort, Spurred Job Growth During World War II

Rebroadcast from June 13, 2012.

A conversation with Arthur Herman, author of Freedom's Forge: How American Business Produced Victory in World War II, about the contributions of American business during the second World War, with focus on St. Louis area businesses.  

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