• Local Businesses are Optimistic for the Second Half of 2016

    Jun 30, 2016

    Three surveys released this month indicate business owners’ optimism for the St. Louis economy, which is expected to expand throughout the fall.

    The Federal Reserve Bank of St. Louis’ Second Quarter 2016 Burgundy Book, released on June 21st, reports that surveyed business executives have an increasingly positive outlook of the economy compared to the previous quarter. More people expect improvements over the next quarter and fewer expect conditions to worsen. The local housing market’s recovery is accelerating.  Residential real estate is heating up due to an increased demand, driving appreciation and sales activities that outpace national trends. In turn, this strong demand is excepted to spur construction activity into the next quarter.

    The Manpower Employment Outlook Survey, released on June 14th, anticipates an uptick in hiring activity over the next three months.  According to the survey, 19 percent of regional employers plan to hire new employees, 74 percent will maintain current staffing levels and 6 percent plan to reduce staff.  These percentages translate into a Net Employment Outlook of 13 percent, consistent with the Net Employment Outlook from one year ago.  The possibility for job growth is broad. In particular, the following sectors are reported to expand: construction, durable goods manufacturing, transportation and utilities, financial activity, professional and business services, education and health services, leisure and hospitality as well as government.

    The technology sector is also slated to see employment rates rise. According to the Robert Half Technology’s IT Hiring Forecast and Local Trend Report, also released on June 21st, a quarter of the St. Louis-area technology executives expect to hire more IT professionals in the second half of 2016.  This rate is up slightly from the 24% reported this time last year.  Fewer companies report putting hiring plans on hold or reducing their IT staff. Joe McIntyre, the St. Louis district president of Robert Half Technology said in a statement that “It’s a great time to be a technology professional in St. Louis…New projects and initiatives, as well as continued economic growth, have spurred hiring at local companies in the healthcare, financial services and retail sectors.” 

    Overall, the St. Louis area economy is forecast to strengthen throughout the next several quarters. For an insight into the region’s current employment activity and labor force performance, refer to the latest issue of Greater St. Louis Monthly Employment Summary on our website.

  • St. Louis Press Pass

    Jun 27, 2016
    Fed: St. Louis economy is improving
    (St. Louis Post-Dispatch, 6/21/16)
    The St. Louis regional economy is improving and business leaders think things are looking up, according to a generally cheery report from the Federal Reserve Bank of St. Louis. >> CLICK FOR MORE
    St. Louis CIOs optimistic about IT hiring
    (St. Louis Business Journal, 6/21/16)
    St. Louis-area technology leaders are more bullish on expanding their IT teams in the second half of 2016, according to new statistics from Robert Half Technology. >> CLICK FOR MORE
    Local firm sees revenue double in five years
    (Belleville News Democrat, 6/19/16)
    It’s not often a construction company can boast that it doubled its revenue in five years, especially not following the recession that pummeled the industry. >> CLICK FOR MORE
    Arch Grants Announces Summer 2016 Global Startup Competition Recipients
    (EQ, 6/21/16)
    Arch Grants, the non-profit that provides $50,000 equity-free grants and pro bono support services for startup companies bi-annually, has announced the recipients of their 2016 Summer Global Startup Competition. >> CLICK FOR MORE
    Bonfyre raises another $4 million from investors
    (St. Louis Business Journal, 6/22/16)
    Bonfyre, the St. Louis startup that’s developed a social media app to lets users create private social networks, has raised $4 million from St. Louis-based Arsenal Capital Management. >> CLICK FOR MORE
    How a St. Louis Startup Went Up Against a West Coast Company—And Won
    (St. Louis Magazine, 6/20/16)
    Matt Thompson first launched his startup Songfreedom from a Belleville, Illinois, basement in 2010 with the goal of bringing music licensing to the masses by allowing videographers to buy licensed songs for videos at a low cost. >> CLICK FOR MORE
    SSM Health to build $550 million medical center to replace SLU Hospital
    (St. Louis Public Radio, 6/20/16)
    SSM Health will spend $550 million to build a new academic medical center to replace Saint Louis University Hospital in south St. Louis. >> CLICK FOR MORE
    Local children's hospitals rank among nation's best
    (St. Louis Business Journal, 6/21/16)
    Two local hospitals made U.S. News & World Report's newly released rankings of the nation's best children's hospitals in specialty care categories. >> CLICK FOR MORE
    Washington University receives Alzheimer’s research grant
    (St. Louis Business Journal, 6/21/16)
    Washington University School of Medicine has received a $4.3 million award from the Alzheimer’s Association to support ongoing research into possible treatment to prevent early-onset Alzheimer’s disease. >> CLICK FOR MORE
    Toxic stress gets the spotlight at St. Louis med schools
    (St. Louis Post-Dispatch, 6/20/16)
    It’s June, and the third-year students at St. Louis University School of Medicine are getting out of anatomy labs and lecture halls and into their first clinical rotations with patients. >> CLICK FOR MORE
    Donald Danforth Plant Science Center to receive grant
    (AgProfessional, 6/9/16)
    Illumina, Inc. announced that the Donald Danforth Plant Science Center is the 2016 recipient of the Agricultural Greater Good Initiative grant. >> CLICK FOR MORE
    Law Schools Are Going Online to Reach New Students
    (The New York Times, 6/22/16)
    Law schools, in the face of marked declines in enrollment, revenue and jobs for graduates, are beginning to adopt innovative new ways of delivering legal education. >> CLICK FOR MORE
    Philanthropy Spotlight: Gifts to Washington University, SIUE launch new programs
    (St. Louis Business Journal, 6/20/16)
    Washington University will establish the George and Carol Bauer Leadership Center at the Olin Business School, thanks to a $5 million commitment from the Bauers. >> CLICK FOR MORE
    SIUE and Kaskaskia College establish 2+2 agreement in Early Childhood Education
    (Riverbender.com, 6/16/16)
    Southern Illinois University Edwardsville and Kaskaskia College (KC) have signed a 2+2 Articulation Agreement in early childhood education to better ensure a seamless transfer experience as students transition from KC to SIUE. >> CLICK FOR MORE
    Green Street Pursuing Redevelopment of The Armory
    (nextSTL, 6/23/16)
    nextSTL has learned that Green Street Development LLC is in active discussions with more than one potential user to repurpose the Armory building at 3660 Market Street. Several options continue to be explored, with one focus being its use as an event and performance space. >> CLICK FOR MORE
    Work set to resume on Missouri Theatre project
    (St. Louis Post-Dispatch, 6/20/16)
    Renovation of the Missouri Theatre building in Grand Center as a hotel and the new headquarters of Bull Moose Industries is scheduled to resume this week. >> CLICK FOR MORE
    State OKs $10 million in bonds for Centene's Clayton expansion
    (St. Louis Business Journal. 6/21/16)
    The Missouri Development Finance Board on Tuesday approved roughly $10 million in bonds from its BUILD Bond Program for Centene Corp.'s proposed Clayton expansion project. >> CLICK FOR MORE
    Goodbye parking garage, hello amphitheater at north end of Arch grounds
    (St. Louis Post-Dispatch, 6/16/16)
    On a 91-degree day, with no trees to block out the sun, the dusty construction site of the North Gateway doesn’t look too appealing. But come this fall, the 7.5-acre development at the north end of the Arch grounds will be home to a bike and foot path, amphitheater area, children’s play area and more. >> CLICK FOR MORE
    SLU law school promotes increased law school diversity
    (St. Louis Post-Dispatch, 6/17/16)
    In the 1960s, when Mike Wolff began taking his first law school courses at the University of Minnesota, he was part of a class of about 240 students that included only 13 women and zero minorities. >> CLICK FOR MORE
    How to get a skill — and a decent-paying job — on the cheap
    (St. Louis Post-Dispatch, 6/19/16)
    Many young people will be feeling lost this month. They’ve just graduated from high school. They think four years of college isn’t for them. They like working with their hands, but they have no skills to sell. >> CLICK FOR MORE
    Forest Park turns 140: St. Louis jewel was recently voted ‘best city park’ in U.S.
    (St. Louis Public Radio, 6/20/16)
    St. Louisans have plenty to be proud of when it comes to Forest Park. In the summer, the park is bustling with musicals, plays, cool museums and many other recreational activities. Recently, the park was voted the best urban park in the United States by USA Today. >> CLICK FOR MORE
    Blues to get $16.6 million thanks to NHL expansion
    (St. Louis Business Journal, 6/23/16)
    The St. Louis Blues will soon get a $16.6 million shot in the arm thanks to the National Hockey League’s expansion efforts in Las Vegas. >> CLICK FOR MORE
    African-American artists well represented in new folk art show at SLAM
    (The St. Louis American, 6/21/16)
    “Self-Taught Genius: Treasures from the American Folk Art Museum,” which opened June 19 at the Saint Louis Art Museum, includes in its vast treasures work by 15 African-American artists in a wide range of styles and media that we expect when we veer into the terrain of the “self-taught” or “outsider” folk artist. >> CLICK FOR MORE