• St. Louis Regional Chamber’s 181st Annual Event Focuses On Keeping St. Louis Competitive

    Jul 26, 2018

    The St. Louis Regional Chamber celebrated those who work to make St. Louis a more prosperous region at its 181st Annual Event at the Chase Park Plaza on Thursday evening. The event focused on the Chamber’s priorities for the coming year – economic development, building business capacity, workforce development and narrowing its legislative agenda. Chamber President and CEO Tom Chulick and Gisele Marcus, Executive Vice President, Strategic Initiatives and Operations encouraged the Chamber community and its partners to collaborate and embrace a positive regional narrative to help the St. Louis region compete more effectively with other regions like Nashville, Indianapolis and Louisville, as well as larger cities like Chicago, San Francisco and Dallas.

    Chulick highlighted some of the strong investment happening around the region, including the over $1 billion in new development happening along the central corridor, including Ballpark Village Phase 2, the Enterprise Center redevelopment, Union Station and CORTEX. Chulick and Marcus also recognized strong investment happening through the region at 39 North innovation district, the National Geospatial-Intelligence Agency expansion, downtown Clayton, St. Charles County business growth, Madison County’s Gateway Commerce Center, downtown Belleville’s business district, and many more. Chulick encouraged leaders to join the Chamber for its upcoming Leadership Experience trip to Nashville and Indianapolis to explore what these regions have done to encourage unity and economic growth, and spurn new ideas to make St. Louis more competitive.

    Regional Chamber Board Chairman and Ameren Chairman, President and CEO Warner Baxter joined emcee Mike Kelly, host of KMOX Sports Open Line and voice of the Mizzou Tigers, in welcoming over 800 attendees. The program also featured Stan Shoun from Ranken Technical College to talk about workforce development and Ronke Faleti, CEO of Korede, to talk about building capacity for entrepreneurs and small businesses. In addition to the yearly results and formal award presentation, the evening included a silent auction and multiple opportunities for participants to network with other regional leaders.

    Valerie Patton, Senior Vice President, Inclusion and Talent Attraction presented the Right Arm of St. Louis Award to the National Park Service, honoring its 83-year legacy in St. Louis providing memorable and educational experiences to millions of visitors to the region. Mike Ward, Superintendent of Gateway Arch National Park, accepted the award on behalf of the National Park Service. Under Ward's leadership, in 2007, the National Park Service worked with community leaders to push through the Comprehensive Management Plan to redesign the park grounds and revitalize the Arch experience. The result, unveiled earlier this month, is a National Park and museum that matches the splendor of one of the greatest icons in the world.

    The St. Louis Regional Chamber team also presented updates on progress in the areas of Business Recruitment, Business Capacity, Workforce Development and Public Policy. Highlights included:

    • Over the past year, the Chamber has helped secure 16 business recruitment expansion deals that resulted in nearly new 4,000 new jobs, $183 million in new payroll and $798 million in new capital investment for the St. Louis region. Over the past few months, the Chamber has greatly increased its efforts toward business recruitment and now has over 90 job-creating projects in the works, 26 from May and June alone.
    • Since 2013, an average of over $342MM per year in Venture Capital has been deployed into St. Louis startups. Part of the broader mission at the St. Louis Regional Chamber is to help promote a culture of innovation. To that end, the Chamber has co-founded the Missouri Hyperloop Coalition, a public private partnership whose goal is to promote the building of a Hyperloop Route between Kansas City, Columbia, and St. Louis.An engineering feasibility study is scheduled for completion by the end of September. Another exciting collaborative project is also underway, a Minority Entrepreneurial Accelerator housed at Harris-Stowe University, the first program of its kind in the country.
    • Workforce development is a top priority for businesses as well as the St. Louis Regional Chamber. The Chamber convened over 100 educational institutions, business leaders and community organizations to develop and sign the St. Louis Regional Education Commitment, a shared agenda to help increase the number of college graduates in our region and reduce talent gaps by making education and training easier to obtain, more affordable, and more responsive to workforce demand.
    • The St. Louis Regional Chamber is getting back to the basics this year when it comes to Public Policy, starting with a reboot of its Policy Council. A new voting process will give members and investors more influence on the Chamber’s public policy platform, and its legislative agenda will shrink to reflect a more narrowed focus, keeping the concentration on economic development and workforce issues in order to be more effective with advocacy resources and secure more wins for the region.

    Lakesha Mathis, Program Manager of the St. Louis Minority Business Council highlighted the first annual St. Louis Business Diversity Connect event at the Marriott Grand Hotel on September 25, a collaboration with the Hispanic Chamber of Commerce, Minority Business Diversity Development Agency of St. Louis, the Women’s Business Development Center, and Mid-States Minority Supplier Diversity Council. The regional daylong event will provide workshops, speakers and opportunities to connect MBEs, WBEs and DBEs and corporate supplier diversity professionals.

  • St. Louis' Fortune 500 Headquarters Total Expands to Ten

    Jun 04, 2018

    Each year Fortune magazine publishes their Fortune 1000 list which ranks publicly traded U.S. companies' total revenues. In 2018, the St. Louis area is home to sixteen Fortune 1000 headquarters – a diverse mix of the region’s top companies in energy, financial services, and health care.

    St. Louis Fortune 1000 Headquarters 2018

     

    Company

    Rank

    Revenues ($ billions)

    1

    Express Scripts

    25

    $100.065

    2

    Centene

    61

    $48.572

    3

    Emerson Electric

    178

    $16.301

    4

    Monsanto

    199

    $14.640

    5

    Reinsurance Group of America

    234

    $12.516

    6

    Jones Financial (Edward Jones)

    376

    $7.597

    7

    Graybar Electric

    426

    $6.631

    8

    Olin

    448

    $6.268

    9

    Ameren

    453

    $6.177

    10

    Peabody Energy

    491

    $5.579

    11

    Post Holdings

    512

    $5.226

    12

    Stifel Financial

    734

    $2.997

    13

    Caleres

    778

    $2.786

    14

    Belden

    851

    $2.389

    15

    Arch Coal

    870

    $2.325

    16

    Edgewell Personal Care

    876

    $2.298

    Source: “Fortune 500” Fortune, 2018.

    This year’s Fortune 500 list features many of the region’s top companies, however, recent mergers and acquisitions, bankruptcies, and external market factors have resulted in changes to companies’ revenue and position on the Fortune 500.

    There are a few notable changes since last year. After recovering from bankruptcy in April 2017, Peabody Energy moved into the Fortune 500 this year. Peabody Energy reported revenue of $1.46 billion for the first quarter of 2018 (1). Centene experienced the largest jump in revenues from $40.6 billion in 2017 to $48.6 billion in 2018, moving them up from 66 to 61. Centene is in the process of building a $770 million campus expansion at their Clayton headquarters which will create 2,000 jobs in the region. Monsanto moved up five spots landing at 199 after reporting $1.5 billion in net income during the first quarter of 2018 (2). Arch Coal, landing at number 15, moved up from 796 last year to 870, the largest jump of any company on the Fortune list. The coal provider’s increase in revenue is notable in an industry beset with falling prices. Panera Bread dropped from the list this year following their acquisition by JAB Holding in 2017 (3).

    Prospective mergers and acquisitions will influence each company’s respective revenue and position on next year’s list. Express Scripts, St. Louis’ largest public company, recently announced its acquisition by Cigna. If the deal is approved, the combined pharmacy benefit management company will be headquartered in Connecticut and will retain Cigna’s name. Monsanto remained in the Fortune 500 after reporting net income of $1.5 billion during the first quarter of 2018, however the agricultural products manufacturer’s pending acquisition should take it off the list next year (4). After pursuing an aggressive M&A strategy which included acquiring Weetabix and Bob Evans, Post Holdings moved up four spots to 512. The consumer goods company may enter the Fortune 500 next year.

    Potential contenders for next year’s Fortune 1000 list include Spire and Energizer Holdings. Spire’s 2017 revenue of $1.7 billion is close to the Fortune 1000 cutoff. In 2016, the natural gas company acquired EnergySouth, Inc. for $344 million. If the company continues its acquisition strategy, Spire may move back into the Fortune 1000. Energizer Holdings is also a contender for next year’s list. Last year the company acquired Spectrum Brands’ Rayovac battery subsidiary and had a reported revenue of $1.8 billion (5).

    The Fortune list’s rankings illustrate St. Louis’ longstanding success as a viable location for headquarters of some of the nation’s most prominent and innovative organizations.

    Sources:

    (1)  “Peabody gives $1.5 million to Washington University” St. Louis Business Journal, May 23, 2018.
    (2)  “St. Louis’ biggest companies are raking it in. Here’s what’s driving the profit boom” St. Louis Business Journal, May 28, 2018.
    (3)  “Biggest Deals 2017: JAB puts Panera Bread Co. on the menu in $7.5 billion deal” St. Louis Business Journal, December 21, 2017.
    (4)  “St. Louis’ biggest companies are raking it in. Here’s what’s driving up the profit boom” St. Louis Business Journal, May 28, 2018.
    (5)  “Energizer to acquire Spectrum Brands’ battery business for $2 billion” St. Louis Business Journal, Jan. 16, 2018.