Economy & Innovation

Economy & Innovation
11:00 pm
Thu March 13, 2014

St. Louis In Line With National Trends: Youth Employment Down Sharply Since 2000

Employment rates for young people have been falling since the turn of the millennium.
Credit (Credit: Flickr/Thomas Karl Gunnarsson)

If you’re in your late teens or early twenties, here’s some news you might already know: Employment rates for those age categories plummeted in the U.S. from 2000 to 2011.

A new report from the Brookings Institution looked at the 100 largest metropolitan areas. The picture was stark for people in their late teens and early 20s.

16-19 year olds:

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Housing
9:01 pm
Wed March 12, 2014

Under The Microscope: Questioning Low-Income Housing Tax Credit's Impact And Future

Beyond Housing's Chris Krehmeyer stands in a vacant unit inside Rosie Shields Manor in Pagedale. Krehmeyer's group has developed a number of projects using the low-income housing tax credit, which is under increasing attack in Jefferson City.
Credit Jason Rosenbaum/St. Louis Public Radio

Carl Miles' apartment at Rosie Shields Manor has everything he could want in a home – and then some. 

Miles’ spacious room has sleek wood-like floors and a modern-looking kitchen. He’s within walking distance of a bank and grocery store. And he can even throw parties in the Pagedale facility’s community room or common area – with management’s permission, of course.

“It’s wonderful. It’s a wonderful place to live,” said Miles, who is 70 and retired. “It’s got a lot of security. The people are generally pretty friendly. We socialize a lot. And we have a pretty good time.”

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The Rundown
9:49 pm
Mon March 10, 2014

Business & Economy Rundown: Putting The 'Fun' in 'Fundraising'

AB InBev could be gearing up for a major acquisition.
Credit (via Flickr/ChrisYunker)

If you are a regular listener to our radio airwaves, you may have noticed that St. Louis Public Radio has been asking for your financial support  to help keep our station up and running.

There are a million reasons to become a member and if you enjoy reading this Rundown, then that is one of the reasons. If you haven’t yet contributed, I encourage you to do so.

That’s the end of my pitch to try to get you to contribute… so read on!

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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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