Economy & Innovation

News about the economy, business, and innovation happening in the St. Louis region.

Sandy Evans helps her parents clear out the basement of the house she grew up in on Oak Court in Arnold on Monday afternoon. Floodwater from the Meramec River damaged the basement, which housed a spare bedroom and a bathroom.
file photo | Carolina Hidalgo | St. Louis Public Radio

Updated 10:45 a.m., Jan. 24 with information from FEMA—Hundreds of thousands of federal dollars are available to Missourians whose homes were damaged in flooding between Dec. 23 and Jan. 9, now that President Barrack Obama has declared 33 counties a major disaster area.

But figuring out whether you qualify for aid can be confusing. So we enlisted the help of Jono Anzalone, who oversees American Red Cross disaster relief for Missouri, to create a FAQ for FEMA applications.

Monsanto Sign
Provided by Monsanto

Monsanto Co. filed suit against a California state agency Thursday to keep it from including glyphosate on a list of cancer-causing chemicals.

The California Office of Environmental Health Hazard Assessment said in September it planned to put the herbicide on its Proposition 65 list. That list, created in 1986, includes chemicals known to the state of California to cause cancer.

Glyphosate is a broad-spectrum herbicide that St. Louis-based Monsanto patented in the 1970s under the RoundUp label.

Courtesy | Ameren Corporation

Promoting diversity within a corporation is nothing new.

But Ameren Corporation announced Thursday it will make its new "Discussion Across Differences" videos and materials available to other groups, free of charge.

(courtesy NGA)

Mayor Francis Slay tweeted on Tuesday that he’s “knocking on doors” in Washington, D.C., regarding the National Geospatial-Intelligence Agency.

The mayor is in the nation’s capital for the annual meeting of the United States Conference of Mayors. In an interview Tuesday, he said he often uses the opportunity to check in with Missouri’s congressional delegation, and this time is no different.

(Maria Altman, St. Louis Public Radio)

Saint Louis University’s Shared Use Kitchen is helping food entrepreneurs take a crack at starting their own businesses.

Housed in the basement of the Salus Center, the 6,000 square foot kitchen is used by culinary students and staffers who make breakfast and lunch for six area schools. The university in 2011 opened the kitchen to people looking to start a food-based business.

Quincy, Illinois Logo
Great River Economic Development Foundation

The city of Quincy and Adams County are rolling out a new brand, designed to help tell the area's story and boost economic development efforts.

"Right on Q" was unveiled Wednesday night during the Great River Economic Development Foundation annual meeting. It essentially replaces "Life is Good," which was first used by Adams County roughly 20 years ago.

A rendering of the planned food stands in railroad cars and 200-foot-high Ferris wheel at Union Station.
Lodging Hospitality Management

The company that owns St. Louis' Union Station will begin work Feb. 1 on a major makeover of the historic railroad hub.

Mike Mozart | Flickr

Save-A-Lot, the discount grocery chain headquartered in Earth City, could soon be publicly traded as a stand-alone company.

Minneapolis-based SuperValu filed paperwork this week with the Securities and Exchange Commission to spin off its subsidiary.

Its shareholders will own about 80.1 percent of Save-A-Lot, which will be publicly traded. SuperValu will retain 19.9 percent ownership. 

Monsanto Headquarters
Provided by Monsanto

Facing increasing pressure from declining seed sales, St. Louis-based Monsanto has announced plans to cut more jobs from its global work force.

Under what the company describes as a Revised Restructuring Plan, it will eliminate 3,600 positions through the end of fiscal year 2018. Monsanto's original initiative, announced last October, called for 2,600 job cuts.

A view of the outside of the Peabody Energy building in St. Louis.
St. Louis Public Radio

Updated 11:30 a.m., Jan. 5 with details of new agreement - A health fund for retired miners will stay solvent for at least 10 more months.

Peabody Energy and the United Mine Workers of America have reached an agreement. The company will pay $75 million into the health fund this year, but will not have to pay $70 million next year.

Jim McKelvey, Co-founder, Square
Scott Pham|KBIA

It has been a big year for an emerging technology company with St. Louis roots.

Square went public on the New York Stock Exchange a few weeks ago. It also opened a St. Louis office, which is expected to employ more than 200 in five years.

Athrasher | Flickr

The end of the year is looming and with it the end of the tax year as well.  Between holiday shopping, parties and travel it seems like the coming year’s taxes have been the furthest from the brain. Lucky for you, there are still steps you can take to lessen your tax burden in 2016 before 2015 is even over.

Sparkle Burns, a community coach with Jobs Plus, entertains Kylie Short while the nine-month-old's mother works on her resume at Clinton-Peabody's Al Chappelle Center.
Carolina Hidalgo | St. Louis Public Radio

At 53, Lucretia Hollins is older than your average cheerleader. But that, in essence, is what she’s paid 20 hours a week to be. Hollins encourages her neighbors to sign up — and stick with — a new job-training program at their public housing complex, the Clinton-Peabody in St. Louis' near south-side.

“It’s not so much about the paycheck. It’s about being able to help somebody else,” said Hollins. “Because I know where I was at, and you can’t let your circumstances in life take you out.”

gift card generic
Mike Mozart | Flickr

Thousands of Missourians have leftover gifts to reclaim from the state treasurer’s office this holiday season.

According to Treasurer Clint Zweifel, the state is holding nearly $9 million worth of gift cards and gift certificates that have been dormant for at least five years.

“We all know what it’s like during the holiday season. You get gifts; you get gift cards. You set them aside; you might forget about them,” he said. “Or you might lose them in the travels that you have. We’ve returned $145,000 this year alone in gift cards.”

LockerDome Logo
LockerDome

A St. Louis-based social media technology company is moving into a much larger space as it prepares to add 300 jobs over the next five years.

LockerDome's headquarters will remain downtown on Washington Avenue, but plans to be in the new space by the end of next year. It will be 18,000 square feet as opposed to the company's current 6,800 square-foot office.

Missouri Governor Jay Nixon at World Wide Technology groundbreaking
Wayne Pratt|St. Louis Public Radio

One of the St. Louis region's most prominent technology companies is hoping to use some workplace culture elements of some of the big players in Silicon Valley in its new headquarters in Maryland Heights.

World Wide Technology plans to open the space for 1,000 workers in 2017. It will anchor a $95 million revitalization effort for Westport Plaza.

Company officials held a groundbreaking ceremony Tuesday.

United States Department of Agriculture | via Flickr

The top Christmas tree producing states are Oregon, North Carolina and Michigan. So how is it that the National Tree Christmas Association is based in Chesterfield?

"There’s lots of office space," joked executive director Rick Dungey.

The trade organization represents about 600 active member farms, 29 state and regional associations, and more than 3,800 affiliated businesses. While Missouri ranks 26th in Christmas tree production, Dungey said their office's location doesn't much matter when handling their members’ business.

File photo | Chris McDaniel, St. Louis Public Radio.

Metro Transit is disputing a recent study that suggests its operations in the St. Louis area are financially unsustainable.

ChrisYunker | via Flickr

Unemployment in the St. Louis region is the lowest it’s been in years, but job growth is still below the national average.

That’s according to the Federal Reserve Bank of St. Louis’ fourth quarter Burgundy Report on economic conditions, released Friday.

The St. Louis zone, which includes eastern Missouri and southern Illinois, had an average unemployment rate of 5.2 percent in the third quarter. That’s the lowest it’s been since the second quarter of 2007.

With U.S. Steel set to start idling operations in Granite City next week, some Metro East leaders are calling on federal lawmakers to take a tougher stance on overseas steel producers selling on the U.S. market at unfairly low prices.

(St. Louis Public Radio)

Developer Paul McKee will not be among the landowners taken to court by the city of St. Louis in an effort to lure a federal agency to the north side.

The Land Clearance for Redevelopment Authority reached a deal with McKee’s company, Northside Regeneration, this week. That includes the option to buy more than 300 parcels of McKee’s land within the proposed site of the National Geospatial-Intelligence Agency.

(Illustration by Susannah Lohr, St. Louis Public Radio)

For some investors it’s about more than making money.

Sustainable, Responsible and Impact (SRI) financial investments are becoming more common among both public and private investors.

Madaket Growth, LLC, a St. Louis-based investment company, is capitalizing on that trend. Founder Christopher Desloge said they’re now starting the first SRI investment fund for qualified investors in St. Louis. (Those investors earn more than $200,000 a year and have assets of at least $1 million, excluding their home.)

Katelyn Petrin | St. Louis Public Radio

On Tuesday’s “St. Louis on the Air,” host Don Marsh discussed the year in business happenings in the area — from Cortex to coal to NGA — with the reporters who know the subject best.

Arcade Apartments, Arcade Building
(courtesy of Missouri History Museum, St. Louis)

Updated Friday, Dec. 11, 5 p.m. Developers say that construction is complete on the Arcade Apartments. Construction crews wrapped up their work last week and the first residents have moved in.

Jeff Huggett, a developer at Dominuim, says more than 100 of the apartments have been reserved. In a statement, he says the Arcade Building project is the largest apartment renovation in St. Louis in decades.

Our original story:

The Arcade Building in downtown St. Louis is set to reopen in December for the first time since it closed in 1978.

(Maria Altman, St. Louis Public Radio)

They weren’t fastballs, but there was a lot of pitching at Busch Stadium on Thursday.

The founders of four sports startups threw their best stuff at investors gathered inside the ballpark. It was Stadia Ventures first demo day.

The St. Louis-based accelerator offers 10-week mentorship for sports entrepreneurs and investments of up to $100,000. Co-founder Art Chou said it’s the right city for the sports innovation hub.

(Maria Altman | St. Louis Public Radio)

Developer Paul McKee owns the lion’s share of the land within the proposed north St. Louis site for the National Geospatial-Intelligence Agency.

Kelly Moffitt | St. Louis Public Radio

This past June, 33 Veterans Court Technology Clinic students and supporters watched as seven of their colleagues took part in the clinic’s first formal graduation ceremony. The clinic is part of a special drug court in St. Louis that provides an alternative to incarceration for veterans. It provides job skills for participants in the program.

Security guards at the Callaway nuclear power plant near Fulton warn they could go on strike if they don’t reach a contract agreement with Ameren Missouri.

The United Government Security Officers of America Local 11 represents 91 security officers at Missouri’s only nuclear power plant. They’ve been on a month-to-month contract since rejecting an agreement with Ameren Missouri in July.

Rep. Lacy Clay
St. Louis Public Radio

A formal rollout of a federal initiative that could help revitalize some of the poorest sections of north St. Louis County and city is expected next month.

America's Central Port

The forecast for 2016 in Madison County and the St. Louis region’s newly-created freight district includes 9,600 feet of rail track, 1 million cubic yards of dirt and 8,000 cubic yards of concrete — and the sound of barge horns. The South Harbor at America’s Central Port was recently christened and is set to open in 2016 — with an expected increase in commodities flow by 25 percent.

Pages