Economy & Innovation

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

A sign greets visitors to the main entrance of the Ikea store at Vandeventer Avenue and Forest Park Avenue opening 9 a.m. Sept. 30. The 380,000 square-foot store is the Swedish company's 41st U.S. location.
Nassim Benchaabane

The city of St. Louis may use its power of eminent domain against developer Paul McKee and 18 other land owners in its bid to retain the National Geospatial-Intelligence Agency.

A resolution will be introduced to the St. Louis Board of Aldermen on Friday to allow the legal process to begin.

houses for sale, housing market
(Flickr, Tom Caswell)

A new economic report offers some good news for St. Louis... and some just okay news.

The Federal Reserve Bank of St. Louis released its third-quarter St. Louis Burgundy Book on Tuesday. While the housing market in St. Louis is on a definite upswing, the labor market lags behind the U.S. labor market.

Wayne Crosslin | International Institute of St. Louis

The immigrant population in the St. Louis region has been declining in recent years.

The U.S. Census released 2014 numbers on Thursday. In St. Louis’ metropolitan statistical area it showed an estimated loss of about 10,000 foreign-born residents between 2011 and 2014.

Flickr | DIGITIZEDCHAOS

St. Charles County remains the fastest growing county in the St. Louis region, according to U.S. census data released Thursday.

New numbers from the 2014 American Community Survey show that the population of St. Charles County has grown by about 5 percent since 2010, from an estimated 361,602 to an estimated 379,493.

Demographics analyst and Saint Louis University professor Ness Sandoval points to the county’s relatively low cost of living as the cause of the growth.

(courtesy Donald Danforth Plant Science Center)

GMOs -- genetically modified organisms -- are not exactly a controversial subject at the Ag Innovation Showcase.

The three-day annual event is the place where the agriculture industry comes together to talk about new trends and startups to present to potential investors.

Yet this week at the seventh annual showcase at the Donald Danforth Plant Science Center in St. Louis, there was also discussion around how people outside of agriculture view the technology. The auditorium was packed for a panel discussion called "Transparency Without Prejudice--Bridging the GMO Divide."

Anheuser-Busch InBev Logo
AB InBev

Analysts are predicting a portion of SABMiller would likely have to be divested if a deal with Anheuser-Busch InBev comes to fruition.

The world’s two largest brewers are exploring the possibility of a combined company, which some industry observers believe would be valued around $250 billion.

From left to right: Dan Lovings, Phillip Johnson, and Andy Krumsieg.
Áine O'Connor | St. Louis Public Radio

Crumbling homes, missing bricks, dangerous streets, and crushing poverty — these details make up the overwhelming narrative of north St. Louis often offered by national media, local media and popular perception.

But Dan Lovings, a longtime St. Louis resident, moved to north St. Louis with the intention of owning and putting money into a house there. He meant to build a good home, increase property values, and join and contribute to the neighborhood. But to do so, he found, would require some individual initiative.

(courtesy Donald Danforth Plant Science Center.)

The Ag Innovation Showcase began on Monday at the Donald Danforth Plant Science Center in St. Louis. In its seventh year, the three-day event includes panel discussions on trends in agriculture and technology and gives startups a chance to find investors and partners. 

This year, 19 early stage companies will present to possible investors. Those companies are focused on precision agriculture, renewables and sustainables, biological solutions and farming innovations.

Flickr | DIGITIZEDCHAOS

Hanging on to more international students they graduate from university could help large companies grow in St. Louis, but an obstacle course of legal and cultural hurdles often stand in the way.

That’s a key takeaway from a new report from researchers at the University of Missouri-St. Louis (UMSL) and the St. Louis Mosaic Project, an organization that aims to make the region the fastest growing metro area for immigrants by 2020.

Granite City Steel Mill
Davd Schaper|NPR

Stakeholders on both sides of the Mississippi River are ramping up recruitment efforts due to a shortage of workers pursuing careers in construction. In the Metro East, those recruitment efforts also include manufacturing.

(courtesy GlobalHack)

The problems plaguing the municipal court system in St. Louis County have been in the spotlight a lot lately. This weekend, coders will come together at GlobalHack V to see if they can develop some tech solutions.

It’s a shift for GlobalHack, which has focused on corporate problem-solving since it launched two years ago. Executive director Matt Menietti said the non-profit’s goal is to improve the city’s tech community, but they wanted to see if they could do more.

Jason Rosenbaum | St. Louis Public Radio

St. Louis-based Express Scripts, the largest pharmacy benefits management company in the U.S., said Wednesday that George Paz will retire as its CEO in May.

Tim Wentworth, who was named president of Express Scripts in February 2014, will replace Paz as CEO. Paz will remain chairman of the company.

Paz, 60, has been CEO for 11 years and oversaw its $29.1 billion acquisition of former competitor Medco in April 2012. Wentworth, 55, was the CEO of Medco's specialty pharmacy business before the merger.

(Flickr/MaximilianV)

Bring them here.

That’s the rallying cry of a march planned for this weekend in St. Louis asking the U.S. government to allow more Syrian refugees to resettle in the city.

The St. Louis chapter of the Council on American-Islamic Relations is organizing the event Sunday evening in the Delmar Loop. Executive director Faizan Syed said more than 1,000 people have indicated they will attend.

Mapbox, OpenStreetMap

The first I-70 interchange west of the Missouri River is getting an $18 million update. Construction starts next spring to replace Fifth Street’s partial cloverleaf interchange with a diverging diamond.

It’s the latest project in a decade-long plan to improve the main corridor through the St. Louis region’s fastest growing county.

St. Louis County Executive Steve Stenger is throwing his support behind St. Louis city’s site for the relocated National Geospatial-Intelligence Agency.

The Democrat sent a letter on Friday to NGA director Robert Cardillo. In it he proclaimed St. Louis County’s "unconditional support" for the 100-acre site in north St. Louis.

The Starliner will be assembled in Florida, with parts built at Boeing plants throughout the U.S.
Boeing

Boeing's St. Louis-based Defense, Space & Security division is providing more details about a project with NASA that's designed to help resume U.S.-based human spaceflight.

The capsule that will carry astronauts to the International Space Station and other low-orbit destinations has been named "Starliner."

Steelworker Jerry Koroby
Wayne Pratt|St. Louis Public Radio

Updated September 1, 2015 at 1:23 p.m.

A contract between the United Steelworkers and U.S. Steel is set to expire midnight Tuesday, and a last-minute deal is not expected. The company employs roughly 2,000 in Granite City, and operations at the plant will likely continue past the deadline.

Members of the United Steelworkers say they are not planning a strike at this point and the company says it remains committed to operating "without disruption as labor contract talks continue."

(UPI/Bill Greenblatt)

Sen. Claire McCaskill is embarking this week on an agricultural tour of the state.

The Missouri Democrat began Monday with a stop at the Danforth Plant Science Center, a non-profit research institute, in suburban St. Louis. The center’s campus also includes the Bio Research & Development Growth Park (BRDG Park), an incubator that houses and helps develop life science startups.

After touring the facility, McCaskill said such research is key to the future of agriculture.

St. Louis Treasurer Tishaura Jones diverges from Knowles and Curtis when it comes to how municipal courts affect predominantly black cities.
Jason Rosenbaum I St. Louis Public Radio

St. Louis Treasurer Tishaura Jones is following through with her campaign promises to help reduce the number of St. Louisans without a banking account and increase the number of St. Louis children who go to college.

Through a partnership with national nonprofit Operation Hope and five area banks, the treasurer’s office is hiring a financial counselor to offer St. Louisans free advice on how to improve their credit scores, buy a home and start a business.

futureatlas.com | Flickr

Gas prices are on the rise again in St. Louis after a volatile couple of weeks. The average cost of a gallon of gasoline was $2.33 in St. Louis Saturday.

Prices bottomed out on Friday at an average cost of $2.14 a gallon in the Metro area, a 60 cent drop in less than two weeks. A Festus gas station went down to $1.85.

Karin Hagaman
Provided by Grand Center Inc.

Grand Center Inc., which oversees development in the Midtown arts district, will be led by Karin Hagaman starting in mid-September. Currently head of project development at Cortex Innovation Community, Hagaman has experience in planning and executing the large-scale developments there.

Monsanto pulls bid for Syngenta

Aug 26, 2015
Monsanto
St. Louis Public Radio

The St. Louis-based seed giant announced Wednesday its offer to buy Swiss pesticide producer Syngenta is off the table.

While Monsanto continued to argue the merger would have "created value" for shareholders of both companies, it said in a statement the most recent offer did not meet Syngenta’s financial expectations.

Creative director Andrew Johnson (left), journalist Dominique Shields (middle), and illustrator Najee Person (right) are members of On the Money Magazine's core team.
Áine O'Connor | St. Louis Public Radio

Dominique Shields said she already had a basic knowledge of how to manage her money thanks largely to her mother, who was her “handbook” growing up. But Shields came to realize that she may have been uniquely lucky to have had that handbook.

“When I first started working here, I didn’t really realize that so many of my peers didn’t have that fundamental information about finances,” Shields said.

(Maria Altman, St. Louis Public Radio)

A tractor trailer from Anheuser-Busch’s St. Louis brewery will be hard to miss.

The trucks have gone green, both literally and figuratively.

The beer giant announced Tuesday that it’s converted 97 diesel tractor trucks to compressed natural gas. To highlight the change, all of the trucks now sport a bright green exterior and Anheuser-Busch’s “Seed to Sip” logo.

Supporters of raising St. Louis' minimum wage listen to testimony Tuesday at St. Louis City Hall.
Jason Rosenbaum | St. Louis Public Radio

With the clock ticking, the St. Louis Board of Aldermen was scheduled to tackle legislation on Tuesday morning that would raise the city’s minimum wage. 

This bill stokes passion on both sides of the issue, and is likely being monitored around the region and across the state.

Vicki Sauter holds her book, "You're Never Too Old to Surf."
Áine O'Connor | St. Louis Public Radio

Recent data collected by the Pew Research Center shows that while the proportion of Internet-using senior citizens is increasing, older Americans lag far behind their younger counterparts in adopting technology that seems inextricably tied to modern life.

From left to right, Andrew Weil, Lance LeComb, Bill Schnell, and David Lott.
Áine O'Connor | St. Louis Public Radio

The collapse of the 155-year-old Cutlery Factory building on Laclede’s Landing last week may have been a freak event, but along with the two-year closure forecast for rebuilding the Kingshighway bridge, it has raised legitimate questions about the sustainability and strength of St.

One of the United Way of Greater St. Louis' donations in the aftermath of the events in Ferguson went to providing boxes of food to area families impacted by the unrest.
Courtesy of United Way of Greater St. Louis

Updated at 5:20 p.m. on Wed., August 19 - A detailed accounting of donations aimed at helping Ferguson shows that Emerson Electric's Charitable Trust is providing more that $8 million in mostly new funding, with major contributions also coming from the United Way of Greater St. Louis and Deaconess Foundation.

The three organizations provided St. Louis Public Radio with a clearer picture of what programs their donations supported and how funding decisions were made.

HUD Secretary Julian Castro readies himself to announce $26 million in federal funds to St. Louis County.
Jason Rosenbaum | St. Louis Public Radio

The U.S. Department of Housing and Urban Development will provide more than $26 million to St. Louis County for residential and commercial development.

It’s the second time in recent months HUD made a high-profile resources-related announcement in the St. Louis area.

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