• St. Louis Press Pass

    May 23, 2016
    Analysts to Monsanto: Grow big or grow home
    (St. Louis Business Journal, 5/20/16)
    First, Monsanto went big with its $47 billion takeover offer last year for Syngenta, which was rebuffed. Then, last month, Monsanto CEO Hugh Grant said the company is no longer interested in large-scale mergers or acquisitions and would focus on innovation, collaboration and small-scale acquisitions. >> CLICK FOR MORE
    Does a Monsanto sale threaten area's thriving plant science hub?
    (St. Louis Post-Dispatch, 5/20/16)
    More than a few hurdles face German chemicals and pharmaceutical giant Bayer AG before its unsolicited offer to buy Monsanto becomes reality. >> CLICK FOR MORE
     
    Research assistant Erin Hall extracts DNA from wheat at Monsanto's Chesterfield Village Research Center.
    Explore the technology Monsanto uses at its Chesterfield research facility 
    (St. Louis Business Journal, 5/17/16)
    Monsanto, the global ag giant, recently gave the Business Journal a tour of its Chesterfield Village Research Center to show what it does and how it does it. >> CLICK FOR MORE
    St. Louis area experiencing business growth
    (KTVI, 5/16/16)
    Stan Kroenke may claim St. Louis is a bad place to do business, but as we reported last week, Top Golf is just the latest of several big name chains being added to the St. Louis area`s marquee. >> CLICK FOR MORE
    St. Louis area median home prices up 17 percent in April
    (St. Louis Post-Dispatch, 5/18/16)
    The median home sales price in the St. Louis area increased 17 percent last month compared with April 2015. >> CLICK FOR MORE
    How a Cahokia grocery store will become St. Louis' next public company
    (St. Louis Business Journal, 5/13/16)
    When Bill Moran opened the first Save-A-Lot in 1977 in Cahokia, Illinois, he saw the potential for small grocers to compete against national chains by using cost-cutting to target lower-income shoppers. >> CLICK FOR MORE
    Capital Innovators is linchpin of St. Louis startup scene
    (St. Louis Post-Dispatch, 5/20/16)
    Judy Sindecuse hadn’t even heard of accelerator funds when she set out to create one. >> CLICK FOR MORE
    Venture capital interest in blockchain startups on the rise
    (St. Louis Business Journal, 5/18/16)
    More money is being invested in startups developing blockchain technology, which is behind the bitcoin digital currency. >> CLICK FOR MORE
    In Your Neighborhood- Cortex
    (KTVI, 5/13/16)
    Founded in 2002, Cortex is the Midwest’s premiere innovation hub of bioscience and technology research, development and commercialization, serving as an anchor of St. Louis’ growing ecosystem for innovative startup programs and established companies. >> CLICK FOR MORE
    National Mapping Agency Sets Up Shop in Silicon Valley
    (Government Technology, 5/18/16)
    The National Geospatial-Intelligence Agency, the mapping agency expanding its western headquarters in St. Louis, announced on Monday that it will create an "outpost" in Silicon Valley. >> CLICK FOR MORE
    Memorial seeks to add doctors for new building
    (St. Louis Business Journal, 5/13/16)
    Memorial Hospital plans to launch efforts to recruit doctors both to join its Memorial Medical Group and to operate independent physician practices in the $22 million medical office building it is planning for its newly opened Shiloh campus. >> CLICK FOR MORE
     
    The proposed 70,500-square-foot medical office building would house offices for primary care, internal and family medicine physicians as well as obstetrics/gynecology and orthopedic specialists.
    Understanding how Zika works; Washington University med school’s discovery
    (KTVI, 5/12/16)
    A vaccine to protect against the Zika virus may be one step closer to becoming reality thanks to new discoveries made at the Washington University School of Medicine in St. Louis. >> CLICK FOR MORE
    St. Louis Regional Airport plays major role in area
    (The Alton Telegraph, 5/16/16)
    More than 70,000 flight operations yearly and approximately 500 jobs make St. Louis Regional Airport a major player in the area’s economy. >> CLICK FOR MORE
    Byrne & Jones Construction Acquires Peoria, Ill. Marine Construction Services Company
    (St. Louis CRN, 5/9/16)
    As St. Louis-based Byrne & Jones Construction celebrates the 40th anniversary of its founding, it is expanding with the acquisition of Midwest Foundation, a Peoria, Ill. marine construction services company. >> CLICK FOR MORE
    Weber Workforce Center planned with support of estate gift
    (Riverbender.com, 5/18/16)
    Lewis and Clark Community College will break ground on a new workforce building on the Godfrey Campus later this year, thanks to a nearly $3.25 million gift from the estate of local resident Ed Weber. >> CLICK FOR MORE
    Plan advances for $60M bridge linking Missouri, Illinois
    (St. Louis Post-Dispatch, 5/18/16)
    An old, narrow and deteriorating Mississippi River bridge at Louisiana, Missouri, may finally be replaced within the next few years, following two recent developments. >> CLICK FOR MORE
     
    The Champ Clark Bridge in Louisiana, MO was built in 1928 and carries 4,000 vehicles daily.
    Hockey rink project planned in Chesterfield as nearby Iceplex heads toward demolition
    (St. Louis Business Journal, 5/13/16)
    A group including Michael Staenberg and Tom Kaiman is proposing a 44-acre Chesterfield Valley development anchored by a 130,000-square-foot hockey complex. >> CLICK FOR MORE
    Small Business Week honors black business owners
    (The St. Louis American, 5/12/16)
    Two African-American local business owners received awards during National Small Business Week, held in St. Louis from May 2 to 7. >> CLICK FOR MORE
    New student-driven East St. Louis Initiative connects entrepreneurs with resources
    (Fuse, 5/16/16)
    ESLI exists to support East St. Louis entrepreneurs with access to consulting, training, and legal services. In order to provide these services, ESLI connects student volunteers with a budding entrepreneur for four months of intensive support. The organization is already supporting a pair of driven entrepreneurs, including a mobile barbershop and a volleyball club. >> CLICK FOR MORE
    DiversityInc ranks utilities Ameren Corp 1st in nation
    (American Daily News, 5/17/16)
    For the second consecutive year, DiversityInc has ranked Ameren Corporation first in the United States on its 2016 listing of the nation’s Top 7 Utilities. Since 2010, Ameren has been recognized among DiversityInc’s top utilities for creating an inclusive workplace, supporting the diverse communities it serves and developing strong partnerships with diverse suppliers. >> CLICK FOR MORE
    Syrian Refugees to Arrive in St. Louis Within a Year
    (CBS St. Louis, 5/17/16)
    Around 300 Syrian refugees could be arriving in St. Louis within a years time and 10,000 are expected nationwide. >> CLICK FOR MORE
    St. Louis City Economic Incentives Report Tallies Totals, Recommends Changes
    (nextSTL, 5/13/16)
    There are at least two distinct lines of thought regarding economic development incentives in the City of St. Louis. One believes that incentives are absolutely necessary to generate investment, that “but for” the incentives, development would not happen. The other believes that incentives are a giveaway to big developers and real estate interests that impoverish the city and particularly burden residents outside the incentive system. >> CLICK FOR MORE
    St. Louis’ Forest Park Named No. 1 Best City Park in America
    (St. Louis Magazine, 5/17/16)
    There’s a lot to love about Forest Park, and St. Louis knows it. >> CLICK FOR MORE
    What would a National Park Service designation mean for Cahokia Mounds?
    (St. Louis Public Radio, 5/15/16)
    On a warm spring afternoon, Italian archaeology students from the University of Bologna were painstakingly sifting through mud from a pit they’re excavating at Cahokia Mounds State Historic Site in Collinsville. >> CLICK FOR MORE
     
    The 100-foot-tall Monks Mound, which contains about 22 million cubic feet of earth, draws the most visitors to the Cahokia Mounds State Historic Site annually. It’s the largest prehistoric earthen construction in north or south America.  
    Hockey town? Second round TV audience in St. Louis outweighed D-FW by nearly 450 percent
    (SportsDay, 5/14/16)
    It wasn't much of a contest when it came to hometown viewers for the second round series between the Stars and St. Louis Blues. In Dallas-Fort Worth the seven-game series on NBCSN and NBC averaged a 3.3 rating. In St. Louis the average was 14.8. That's a lopsided 4½-to-1 advantage for the Blues in hometown television sets tuned into the games. >> CLICK FOR MORE
  • Study Validates Greater St. Louis’ Competitive Business Costs

    May 16, 2016

    Greater St. Louis is known as an affordable place to live.  However, information on St. Louis’ competitive business costs are less well-known.

    KPMG Competitive Alternatives is a biennial comparison of business costs and other location factors for larger U.S. and international metro areas.  Competitive Alternatives 2016 compares business costs in 10 countries including at least one city in each U.S. state.  “The study examines 26 individual cost factors that are likely to vary significantly by location." 

    Greater St. Louis has a low overall cost index of 96.1 (the four largest U.S. metro areas = 100).  This makes us the 9th least expensive of the U.S. large international metro areas (over 2 million in population) in the report.

    The report also reviews costs for several types of business operations.  As illustrated in the table below, St. Louis’ business costs are below the U.S. cost index of 100 for all of these business types.  St. Louis has a significant cost advantage in R&D and corporate operations.

    Business Type

    St. Louis

    Digital – two types of software development and production

    93.1

    R&D – combination of biomedical research, clinical trials, and electronics design and testing

    90.5

    Corporate – combination of financial services and shared accounting, IT, and call center services

    87.9

    Manufacturing – combination of 12 different types of manufacturing

    98.3

    This report, like the cost of living index, does not include data on taxes.  Taxes vary widely based on location, assets, income, spending, and other factors that are difficult to meaningfully average for a metro area. 

    St. Louis’ business costs are very competitive, especially for a large metro area.  Competitive Alternatives provides important standardized data to businesses on cost factors by location and business type.  This data is valuable for business site location decisions and validates St. Louis’ competitive business costs as a key strength of the region.