Economy & Innovation

St. Louis on the Air
4:24 pm
Thu October 3, 2013

St. Louis Asian American Chamber Of Commerce Aims To Serve As Bridge To Larger Community

Bunraku Bay Puppet Troupe, one of the groups performing at the Asian Heritage Festival in St. Louis on Saturday, October 5, 2013.
(Courtesy Asian American Chamber of Commerce)

The Asian American Chamber of Commerce is a relatively recent addition to the St. Louis business scene. The organization's founders, Johnny Wang and Alexander Lee, created the chamber two years ago in the wake of efforts to create a China Hub at Lambert International Airport.

In the process of their work for the China Hub, Wang and Lee realized St. Louis didn't have an organization dedicated to promoting Asian American businesses and decided to form the Asian American Chamber of Commerce (AACC).

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St. Louis on the Air
4:05 pm
Tue October 1, 2013

Discussion: What Impact Will The Government Shutdown, Debt Ceiling Have On The St. Louis Economy?

A view of the Arch at night.
(Via Flickr/Mandalit)

Hundreds of thousands of government employees went on furlough today, as the federal government began a partial shutdown. Thousands of those employees live and work in the St. Louis region. Meanwhile the debt ceiling deadline looms.

What kind of economic impact will the shutdown and debt ceiling have on the St. Louis region?

St. Louis on the Air host Don Marsh spoke with economist Howard Wall, Colonel Kyle Kremer, Commander of the 375th Air Mobility Wing at Scott Air Force Base, and St. Louis Beacon reporter Jason Rosenbaum to find out.

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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.

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