Economy & Innovation

St. Louis on the Air
4:48 pm
Wed December 4, 2013

St. Louis: Bitcoin Accepted Here

Vance Crowe of Articulate Ventures (left) and Michael Huber of Paradigm New Media complete a Bitcoin transaction.
Rachel Gibbens

St. Louis is building a reputation for being a home for innovative businesses. But this week, innovation of a different sort took place - an innovative business practice. 

Instead of swiping a credit card or depositing funds into a bank account, Paradigm New Media paid Articulate Ventures the equivalent of $3,000 in Bitcoin, a digital currency.

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IKEA
8:41 am
Wed December 4, 2013

IKEA Bringing A Store (And Its Meatballs) To St. Louis City

(via Flickr/WarmSleepy)

Updated 5:00 p.m. with additional details.

St. Louis' IKEA store will open in Fall 2015 and will be the Swedish retailer's 40th store in the United States.

Here's an artist's rendering of the store, which is slated for the corner of Forest Park and Vandeventer avenues in the Cortex development.

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St. Louis on the Air
5:42 pm
Wed November 27, 2013

What's Next For Lambert - St. Louis International Airport?

Lambert - St. Louis International Airport
file photo

The week of Thanksgiving is one of the busiest weeks of the year for Lambert - St. Louis International Airport, as travelers make their way home for the holidays.

But movement of another sort is also going on at Lambert - a dual push to both make the airport a stronger economic engine for the region and a more inviting entry-point for the city.

Airport As Economic Driver

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Business
2:23 pm
Tue November 26, 2013

$900,000 Grant Going To Minority Business Enterprises In St. Louis Region

Minority Business Development Agency national director David Hinson.
(Joseph Leahy/St. Louis Public Radio)

The Department of Commerce is giving nearly $1 million to promote minority business enterprises, or MBEs, in the St. Louis region.

The $900,000 grant announced Tuesday will establish a business center to provide minority entrepreneurs and business owners with contract and financing opportunities, bonding services and executive training.

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Business
6:49 pm
Fri November 22, 2013

Union Opposes Police HQ Contractor With Criminal Past

Members of the International Brotherhood of Electrical Workers Local 1 protest outside the future headquarters of the St. Louis Metropolitan Police Department.
John R Kahrhoff IBEW Local 1

A local union is protesting a sub-contractor working on St. Louis’ new police headquarters.  Local 1 of the International Brotherhood of Electrical Workers opposes Thomas Ruzicka who has been convicted of embezzling more than $100,000 from former employees.

The union's business manager Frank Jacobs says Ruzicka is a license holder for R E Contracting that is handling about $1.2 million worth of electrical work for the downtown building. 

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Missouri Businesses
6:11 pm
Fri November 22, 2013

Missouri Businesses Will Pay Higher Unemployment Taxes In 2014

(via Flickr / _J_D_R_)

Missouri businesses will have to shell out more money for unemployment taxes next year in order to pay down debt the state owes to the federal government.

Missouri began borrowing federal dollars in 2008 to pay for jobless benefits after an economic downturn drained the state's unemployment benefits trust fund.  Brendan Cossette with the Missouri Chamber of Commerce and Industry says that led to the feds levying a surcharge on Missouri businesses to repay the borrowed money.

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St. Louis on the Air
4:54 pm
Thu November 7, 2013

Update: Effort To Make St. Louis Fastest Growing Metro For Immigration By 2020 Progressing

NathanReed Flickr

Earlier this year, St. Louis leaders launched the St. Louis Mosaic Project, an initiative to make the region the fastest growing metro area for immigrants by 2020.

According to Betsy Cohen, who is managing the project, the St. Louis community is making great strides.

The goal of the St. Louis Mosaic Ambassador Program is to make the area more welcoming to non-native people.

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Business
9:42 am
Thu November 7, 2013

Twitter’s Value In 140 Seconds With Its Co-Founder (And St. Louis Native) Jack Dorsey

Twitter co-founder and St. Louis native Jack Dorsey.
(Courtesy of Square)

With Twitter making its New York Stock Exchange debut today we're highlighting its co-founder's perspective on the company's value in true Twitter fashion.

Here, in 140 seconds, St. Louis native Jack Dorsey shares his thoughts about what makes his company worth $26 per share - and worth using for its millions of tweeters. 

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Business
4:16 pm
Wed November 6, 2013

Loop Trolley Faces Suit: Edwards Optimistic

(Missouri History Museum)

A federal lawsuit filed last week could create serious delays for the U-City Loop Trolley project.

It alleges that the vote taken to create the Loop Trolley Transportation Development District violated both state and federal laws.

Four individuals, including former University City Councilwoman Elsie Beck Glickert, filed the suit claiming it was unconstitutional to allow non-resident property owners to vote and weighting that vote based on the number of acres they owned.

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St. Louis on the Air
4:33 pm
Mon November 4, 2013

Why Are More Entrepreneurs Calling St. Louis Home?

Haley O'Brien at the Magic Chef complex on The Hill, where she hopes to create a hydroponic farm.
(Courtesy Washington University in St. Louis)

St. Louis is beginning to build a name for itself as a center for entrepreneurship. Last year, funding for tech startups in the region almost doubled, bringing in nearly $30 million in investments. The T-Rex campus downtown - founded two years ago explicitly to foster entrepreneurship in St. Louis - is currently home to more than 70 startups.

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