• St. Louis Press Pass

    Feb 08, 2016
    St. Louis unemployment reaches 14-year low
    (St. Louis Business Journal, 2/3/16)
    Metro St. Louis' unemployment rate fell last month to 4.7 percent, its lowest level in more than 14 years. >> CLICK FOR MORE
    St. Louis Economic Development Partnership names new chair
    (St. Louis Business Journal, 2/5/2016)
    Karlos Ramirez has been named the new chairperson of the St. Louis Economic Development Partnership's board of directors. >> CLICK FOR MORE
    What businesses want from Jeff City
    (St. Louis Business Journal, 2/1/16)
    With the Missouri General Assemby back in session, business owners in St. Louis and across the state are keeping an eye on more than a half dozen legislative initiatives that could affect them. >> CLICK FOR MORE
    Stifel to buy London investment bank
    (St. Louis Business Journal, 2/1/2016)
    Stifel Financial Corp. said Monday that it has agreed to buy ISM Capital LLP, a London-based independent investment bank.

    St. Louis-based Stifel made the agreement through its wholly-owned European broker-dealer, Stifel Nicolaus Europe Ltd. Terms of the deal, expected to close in April subject to regulatory approvals, weren't disclosed.
     >> CLICK FOR MORE
    Charter Communications launches data centers
    (St. Louis Business Journal, 2/2/16)
    Charter Communications has completed two national data centers to support a new downloadable security system for set-top cable boxes. >> CLICK FOR MORE
    Startups that go through accelerators are getting more investments
    (St. Louis Business Journal, 2/1/16)
    About a third of U.S. startups that have raised a Series A financing round — anywhere from $3 million to $10 million — have gone through an accelerator program of some sort. >> CLICK FOR MORE
    Lewis & Clark Ventures closes first fund at $104 million
    (St. Louis Business Journal, 2/5/16)
    Lewis & Clark Ventures, the venture capital firm founded by Tom Hillman, has closed its first fund at $104 million. >> CLICK FOR MORE
    Hillman merges St. Louis edtech companies
    (St. Louis Business Journal, 2/5/2016)
    Two educational technology companies in St. Louis — Teachers-Teachers and myEDmatch — have merged under the guidance of St. Louis investor Tom Hillman. >> CLICK FOR MORE
    Video game developer creates video game to help in his fight against cancer
    (St. Louis Public Radio, 2/4/2016)
    Sam Coster had an unusual inspiration for his hit computer game – his fight against cancer.

    “The game is designed specifically to deliver a feeling of awe and wonder and immersion so it’s literally designed to be the place that I wanted and needed to go during cancer treatment,” said Sam.
     >> CLICK FOR MORE
    Mallinckrodt completes purchase of three drugs
    (St. Louis Business Journal, 2/1/16)
    Mallinckrodt Pharmaceuticals has closed on its planned acquisition of three hemostasis drugs from Parsippany, New Jersey-based The Medicines Co. >> CLICK FOR MORE
    Cofactor Genomics acquires San Francisco company
    (St. Louis Business Journal, 2/4/2016)
    Cofactor Genomics, a biotech company operating out of the Cortex innovation district, has made its first acquisition since being founded in St. Louis in 2008. >> CLICK FOR MORE
    Washington University research teams focus on Zika virus
    (St. Louis Business Journal, 2/5/16)
    Two teams of scientists at Washington University School of Medicine focused on emerging infectious diseases now are concentrating on the Zika virus. >> CLICK FOR MORE
    Centene Corp. acquires Clayton properties, quietly
    (St. Louis Business Journal, 2/5/2016)
    ​Centene Corp. has been on a buying spree in Clayton, gaining control of properties near its 20-story headquarters, at Forsyth Boulevard and South Hanley Road. >> CLICK FOR MORE
    Home Depot seeks to hire 975 St. Louis area workers for busy spring
    (St. Louis Post-Dispatch, 2/5/2016)
    The nation's largest home improvement chain announced earlier this week it's hiring more than 80,000 workers nationwide for its busy spring season, the same level as in recent years. >> CLICK FOR MORE
    Madison Harbor loads its first barge at port district
    (Illinois Business Journal, 2/5/16)
    A project long in the making took a significant step Wednesday with the loading of the first barge at the Madison Harbor, formerly known as the South Harbor, at America's Central Port. >> CLICK FOR MORE
    MLS to explore site for St. Louis stadium
    (St. Louis Business Journal, 2/5/2016)
    Major League Soccer plans to begin looking immediately for a site in St. Louis for a stadium, with the league's commissioner saying a team could be in place in the city by 2020. >> CLICK FOR MORE
    Imagine A Better St. Louis: Express Scripts committed to corporate multiculturalism
    (KMOV, 2/5/2016)
    Express Scripts is one of the most valuable companies in the country and also happens to call St. Louis home. It places a high value on having a diversified workforce, which is well-represented by women minorities and young people. >> CLICK FOR MORE
    Saint Louis Zoo Tackles One Health Initiative and Demonstrates the Benefits of Zoos to Human Health
    (Huffington Post, 2/1/16)
    Through a collaborative study, the Saint Louis Zoo and the University of Missouri's College of Veterinary Medicine recently showed the human health benefits to visitors at an interactive zoo exhibit through an innovative zoo-based research project. >> CLICK FOR MORE
    St. Louis: New Downtown Development Makes the City Worth Considering
    (Successful Meetings, 2/1/16)
    Unique attractions, restaurants, shops, and adventures are drawing meeting groups to Missouri, and the city of St Louis in particular. Take, for one prominent example, the redevelopment of the downtown central business district, aimed in part at helping enhance citywide meetings and events. More broadly, some $5 billion worth of investments across the region are making the area that much more attractive for visiting groups. >> CLICK FOR MORE
  • Cost of Living

    Feb 04, 2016

    In 2015 St. Louis ranked 2nd lowest for cost of living of the top 20 U.S. metropolitan areas.  With a composite rating of 92.5, St. Louis falls only behind Tampa, at 91.6. This makes St. Louis very affordable, as it is 7.5% less expensive to live in St. Louis than the average U.S. metropolitan area (100.0). It’s also below the higher costs of Dallas (96.1), Chicago (116.2), Boston (144.3), and New York’s Manhattan borough (227.4).

    Every year, the Council for Community and Economic Research releases the comprehensive ACCRA Cost Of Living Index for U.S. metropolitan areas. Composite ratings are produced from the cost of grocery items, housing, utilities, transportation, healthcare, and miscellaneous goods/services for each area.

    St. Louis Metro Cost of Living Index - Components 

    100% Composite Index

    Grocery Items

    Housing

    Utilities

    Transportation

    Health Care

    Misc. Goods and Services

    92.5

    104.6

    72.0

    116.5

    98.7

    99.8

    94.4

    *The effect of taxes are not included in the Cost of Living Index due to the difficulty of comparing various taxes across areas.

    St. Louis is especially affordable for housing prices.  St. Louis came in at 72.0 on the housing index, significantly below other cities.  This rating is important, as housing is the largest component of the Cost of Living Index.  Examiners look at newly constructed 2,400 sq. ft., 4 bedroom, 2 bath homes with attached 2-car garages. The average 2015 survey home priced in St. Louis was $207,522, significantly below the average price of $431,884 in Chicago, $232,736 in Cincinnati, and the U.S. at $313,530. This makes it about 51.2% less expensive for a house in St. Louis than in Chicago, 33.8% less than the national average, and 10.8% less than Cincinnati.

    With housing and overall costs, St. Louis’ value and affordability is unmatched for a large metro area. This is one of St. Louis’ main strengths, combined with our educated workforce and other major metro assets.

    For more cost comparisons between St. Louis and other metro areas, check out the ACCRA Cost of Living Calculator. The Calculator makes it easy to compare costs between different urban areas, and it allows for detailed cost comparisons of dozens of items between the St. Louis metro area and many other regions across the U.S.  Click here to access the calculator.