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Today's Headlines |
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| INTRODUCTION |
The weather we have been experiencing over the past few weeks has been unsettling. We have gone from temperatures in the 70s to minus ten degrees wind chill. Just last week the St. Louis area experienced a near 60 degree temperature drop in one day. This is something most of us would rather not experience.
Similar to dramatic temperature changes, economic fluctuations are something we also wish to avoid. Our goal at the St. Louis County Economic Council is to create a strong economic base for our region to keep those highs and lows to a minimum.
That is why we don’t concentrate on one sector as the foundation to a strong economy, or as the saying goes, “don’t put all our eggs in one basket.” St. Louis County has a strong presence in a number of industries including financial services, health care, automotive, pharmaceutical, as well as plant and life sciences.
To further state the point, a strong economic foundation means a solid local government, which results in lower cost to serve our residents. Thus, the strength and diversity of St. Louis County’s economic base is a major reason why the County has maintained its AAA Bond rating.
Additionally, the Economic Council’s objective is to specialize in a number of services to our companies such as business development, financial services, incubation, international trade, and real estate and community development.
The sign of a strong economy is its resilience to setbacks and the insulation it provides to the fluctuations that can unexpectedly come our way. I encourage you to contact the Economic Council to learn why St. Louis County, the region’s “economic engine,” is not left out in the cold when economic prosperity is knocking on the door.
Denny Coleman
President and CEO |
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| DANFORTH CENTER BREAKS GROUND ON NEW LIFE SCIENCE BIOPARK |
 The Donald Danforth Plant Science Center recently announced they will begin construction on a new 118,000 square-foot multi-tenant, post-incubation, wet laboratory and office building to support the needs of start-up life science companies. This will be the first of three buildings in a new research park called the Bio‑Research and Development Growth Park at the Danforth Center.
“Because the new research park is on our property and close to our building, it will allow our scientists and our facilities to more directly support the needs of entrepreneurs and their start-up companies,” said Danforth Center Chief Operating Officer Sam J. Fiorello.
“The new $1 million in contribution tax credits are part of our continuing effort to nurture the life sciences industry,” said Missouri Lieutenant Governor Peter Kinder, chairman of the Missouri Development Finance Board. “The Danforth Center is an important component in helping create new jobs in Missouri.
St. Louis County government is vital in supporting the construction of the first new building by providing Chapter 100 tax abatements. The new post-incubation facility will play a key role in growing the already thriving plant and life sciences industry in St. Louis County.
“Promoting job growth is important to the economic future of St. Louis County.” said Charlie A. Dooley, St. Louis County Executive. “As the life sciences industry continues to flourish, where the average worker earns more than $50,000 annually, we believe this new research park is important to provide the space and equipment for high-growth companies that are ready to graduate from a business incubator and might otherwise consider looking outside our region to find the right lab and office space.”
The building will create more than 390 construction jobs and once completed will be home to more than 340 full-time permanent jobs.
“St. Louis County has invested in projects that have diversified the business base to help retain jobs,” said President and Chief Executive Officer of the St. Louis County Economic Council Denny Coleman. “This new research park will promote business growth and create additional high-tech, quality job opportunities that meet with the research sector strengths already in existence here.”
The City of Creve Coeur and Ladue City School District supported this project through Missouri tax credits, as the City of Creve Coeur represented the project in the application for contribution state tax credits from the Missouri Development Finance Board.
“The citizens of Creve Coeur are proud of the Danforth Center and the impact that life science companies located in our city are having not only on St. Louis and the State of Missouri but on the global population,” City of Creve Coeur Mayor Harold L. Dielmann said.
“The development of this new research park will assure we continue to leverage the commercial potential of our community’s strengths in life sciences research, and in doing so bring increasingly significant economic benefits to the people of our region and state,” said Danforth Center Chairman Dr. William H. Danforth. |
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| CITY OF MAPLEWOOD CELEBRATING ITS CENTENNIEL DURING 2008 |
 City of Maplewood officials are forming a number of activities to celebrate the municipality’s 100th anniversary. The City, with the help of Auto Plaza Ford, Citizens National Bank, Architectural Design Guild, and National City Bank will host a number of events over the year. Saint Louis Cellars is introducing a Centennial Wine and Schlafly has designed special beer glasses with the Maplewood Centennial logo.
Centennial special events include a Century House Tour/History Walk, Summer Concert Series, Arbor Day events, Centennial Parade, and Community Fair.
Maplewood City Manager, Marty Corcoran, who will celebrate his 25th anniversary as Maplewood’s city manager in September, said “This is not only a commemoration of the past but celebration of the city’s bright future.”
“Since its incorporation, Maplewood has played an important role in many ways for the region, and we have positioned ourselves to be just as significant for the next 100 years,” he added.
Rachelle L’Ecuyer, the city’s Community Development Director said this is an event to be celebrated by everyone.
“The festivities we have planned for the next year are not just something being embraced by our city leaders,” she noted. “Our businesses, community groups, chambers, and school district are very excited and committed to making this a memorable celebration for everyone. We hope to see residents, businesses, and people from around the region help Maplewood mark this special year.” |
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| CORRIE HENDRIX NAMED MARKETING COORDINATOR FOR ECONOMIC COUNCIL |
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Nancy Schnoebelen, SLCEC Vice President of Marketing and Communications announced that Corrie Hendrix has been hired to serve as the organization’s Marketing Coordinator.
“I am very pleased with having Corrie on board,” stated Schnoebelen. “Her enthusiasm, energy, and graphic expertise will be a great benefit to us. She has already stepped in and executed a number of important marketing projects.”
A graduate of Oklahoma Baptist University with a degree in Public Relations and minor in Graphic Design, Hendrix has previously established credentials with Pinnacle Financial and ExxonMobil. Her primary duties will be to assist in all marketing projects for the Economic Council and manage the organization’s graphic design efforts.
“I am very excited to be a part of the Economic Council team,” stated Hendrix. “It is great to work for an organization that has such an impact to the region.” |
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| SURGICAL INSTRUMENT MANUFACTUERS GROWS THROUGH SLBDF |
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Surgical Instrument Manufacturers, Inc, also called Sim Surgical, is a contract medical manufacturing company that specializes in machining surgical instruments and implants for micro and macro applications.
President & CEO Jay Bartling recently acquired funding from the Saint Louis Business Development Fund (SLBDF) when the growing company expanded its focus to include the manufacturing and selling of its own privately branded product line.
“SLBDF was the perfect source of funds for us since we didn’t want to sell off part of the company to raise the necessary capital to grow in another direction,” said Bartling. “The investment from SLBDF allowed us to accomplish our objective sooner rather than later.”
“This is a great example of how the program should be used,” stated Rick Palank, senior vice president of the Economic Council’s Business Finance Division. “Growing companies like Sim Surgical turn to the SLBDF, because it is an innovative tool that helps preserve cash flow.” |
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| AFFTON CHAMBER HONORS ECONOMIC COUNCIL’S ELIZABETH LETSCHER |
| Elizabeth Letscher, South County Specialist for the St. Louis County Economic Council, was one of three people honored by the Affton Chamber of Commerce at their recently held annual meeting.
The “Going the Extra Mile” award was presented to Letscher for her tireless effort to help South County grow and develop.
Joan Edleson, executive director for the Affton Chamber stated, “Beth has established a great relationship with a lot of key groups in this area. We appreciate what a valuable resource we have in her.”
Rich Whited, former president of the Chamber said Letscher’s work has been recognized by a number of people throughout South County.
“There was overwhelming support for Beth in receiving this award not only because of what she means to Affton but because of what she has done for all of South County.”
Letscher, who has a B.A. from Loyola University in Chicago and Master of Urban Planning and Policy from the University of Illinois at Chicago, has served as SLCEC’s South County Specialist since 2005. |
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| COMMUNITY PROFILES: BRENTWOOD, BRIDGETON, AND LEMAY |
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BRENTWOOD - Located in the heart of St. Louis County, Brentwood was officially incorporated in 1919.
Brentwood, recognized as “The City of Warmth”, has always been a popular location for residents, retail and business because of its easy access to all parts of the county from Interstates 64 and 170. Metrolink’s most recent extension has also provider even greater access to the city.
“Our greatest asset is our central location, one can truly say that Brentwood plays a central part of the economy of the region,” states Mayor Patrick Kelly.
While local residents are mostly familiar with Brentwood’s strong retail component, it also has a viable mixture to its economic foundation.
The community has recently joined forces with its neighbors to promote Mid Metro 4. This is a coalition of four municipalities along Highway 40/Interstate 64 to promote interest and investment along the roadway during the reconstruction.
BRIDGETON - Bridgeton is one of the oldest communities in the state of Missouri. The original 15 blocks were platted in 1794, shortly after the nation was founded. Bridgeton was also one of the first communities in St. Louis County to hire a professional planner and develop a comprehensive plan for the city.
Strategically located in North County, Bridgeton offers a strong location for business and industry due to its presents along Interstates 70 and 270 along with Highway 370 and U.S. Highway 67.
Mayor Conrad Bowers says the community’s efforts in creating a long term vision have paid great dividends.
“Because of our long range planning, we fully understand Bridgeton’s assets and the vital role we play in the region,” Bowers said. “That is what makes Bridgeton unique for both residential and business investments.”
 LEMAY – Lemay is an unincorporated area of about 10,000 residents located in South St. Louis County. Known for its rich history dating back to the early 1700s, the name Lemay is derived from Francois Lemai, the operator of the ferry service across the Meramec River.
Greg Hayden, president of the Lemay Chamber, says the area has a unique presence in the metropolitan area.
“While we may not be an incorporated city, Lemay residents have a strong sense of community,” Hayden states. “We have always rallied together for the benefit of Lemay.”
Barb Hehmeyer, executive director of the Lemay Chamber and Lemay Development Corporation, states the region has turned a corner and is experiencing growth.
“Our pride of community and our school system is second to none,” Hehmeyer said, “and Lemay is poised for growth in other areas.”
Both Hayden and Hehmeyer see the Pinnacle development as a strong anchor to the region.
“Pinnacle is not only creating investment and jobs for the region; it is also generating a lot of excitement.” Hehmeyer noted.
“Lemay’s future is definitely bright and getting brighter,” Hayden added. |
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| ST. LOUIS COUNTY HEADLINES |
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The SLCEC newsletter is to provide to promote the advantages and assets of St. Louis County and its communities to site selectors, partners, customers, clients, allies and key contacts. Recipients are permitted to forward, print and/or copy this newsletter to help provide greater awareness of the superior attributes of St. Louis County, its communities and the greater St. Louis region.
The St. Louis County Economic Council newsletter was developed in cooperation with E-Data Solutions Inc. a current tenant in the South County Enterprise Center.
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