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Today's Headlines |
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| INTRODUCTION |
If you have followed the news recently, you already know St. Louis County has experienced immense success over the past year. Companies such as Edward Jones, Chrysler, Pfizer, Express Scripts, Elsevier, and Brown Shoe have decided to re-invest in their St. Louis County operations.
While attracting companies to St. Louis County is exciting and important, it is equally as rewarding to have existing industries expand here. Successfully retaining and growing our industry base speaks volumes for St. Louis County’s vitality.
Retention and expansion show that companies see a benefit of operating here: Industry leaders recognize St. Louis County as having a competitive tax base, quality workforce, strong education system, and other amenities important for the long-term health of their company and employees. It also shows suppliers and clients of these major corporations that St. Louis County, and their respective communities, are a great place for them to do business.
St. Louis County Economic Council refers to the County as the state and region’s “economic engine,” not because it is a catch phrase we hope will stick, rather, a great achievement evident in the number of Fortune 500 companies that call St. Louis County home.
Denny Coleman
President and CEO |
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| BROWN SHOE INCREASES FOOTPRINT IN CLAYTON |
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 Clayton-based Brown Shoe has announced it will invest $568 million to expand its global headquarters and create one of the area’s largest mixed-use developments.
The company’s headquarters will anchor the 12.5-acre development project totaling 1.25 million square feet of office space, 300 condos, hotel, and 70,000 square feet of retail space.
“This is exciting news for Clayton and the whole region,” stated St. Louis County Executive Charlie A. Dooley. “Not only is it great to retain a high-quality company like Brown Shoe and its workforce of 650 but to see an additional 500 to 700 jobs created because of this investment is phenomenal.”
“St. Louis County was committed to this project, because it is a solid company with good paying jobs,” added Dooley.
Missouri Department of Economic Development Director Greg Steinhoff said everyone came together for the benefit of the region.
St. Louis County-based Clayco will partner with U.S. Equities Realty to develop Phase I, which is scheduled for completion by 2010.
Brown Shoe President and Chief Operating Officer Diane Sullivan said the company weighed the option of headquarter relocation elsewhere but considered its history and heritage in St. Louis. Brown Shoe concluded it would be less disruptive and costly to move 270 jobs from Madison, Wis. to Clayton rather than move 650 people from Clayton to Madison.
Denny Coleman said a strong team effort was in place to ensure Brown Shoe saw the advantage of the Clayton location.
“The competition was very real and intense, which required the public sector to develop a cohesive and creative proposal that demonstrated our advantages,” said Coleman. “I could not be more pleased with the partnership efforts to retain and expand Brown Shoe.”
"I am absolutely delighted and excited about the announcement," said Clayton Mayor Linda Goldstein. |
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| LEMAY RECOGNIZED AS A GREAT PLACE TO LIVE AND WORK |
CNNMoney.com and Fortune Magazine, two nationally recognized names on personal and business wealth, ranked Lemay as one of the “Top 100 places to live and launch a business.”
“There are so many great things going on in Lemay, and we appreciate a publication like Fortune recognizing our many assets,” said Barb Hehmeyer, executive director of the Lemay Chamber.
“This is very exciting and has really energized our community,” added Greg Hayden, Lemay Chamber’s president.
In promoting Lemay’s virtues, the article stated:
“Until recently, Lemay's older population and aging infrastructure made it a rather sleepy place to live and launch. But over the next few years, the community is going to wake up: Pinnacle Casinos chose the site for its $450 million River City Casino, which is expected to create more than 1,000 new jobs when it opens in 2009.”
“Lemay already boasts a 20,000-square-foot startup incubator, a supportive county economic council and a strategic location on the Mississippi River. The local economy is currently dominated by small manufacturers, but the influx of tourists should stimulate the retail and service sectors.”
Denny Coleman, president and CEO of the St. Louis County Economic Council said Lemay’s recognition is well deserved. “There is a core group of committed people looking to make Lemay a great place to live and work. The article is a testament to their dedicated service.”
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| STATE & LOCAL LEADERS TRAVEL TO CHINA, SIGN TRADE AGREEMENT |
St. Louis County Executive Charlie A. Dooley recently joined Missouri Governor Matt Blunt, U.S. Senators Kit Bond and Claire McCaskill, Congressman Russ Carnahan, St. Louis Mayor Francis Slay and other local dignitaries on a bipartisan trade mission to China.
The trip’s focus was to create new economic development opportunities between Missouri and China.
Former Missouri Governor Bob Holden, who now serves as vice chairman of the Midwest U.S.-China Association and Tim Nowak, executive director of the World Trade Center Saint Louis along with a number of St. Louis Metro-based business leaders also went to China.
During the trip, Governor Blunt, County Executive Dooley, and Mayor Slay signed an agreement with the Chinese government promoting a new St. Louis-to-China trade route.
“This is a critical first step in creating bilateral trade efforts,” Dooley stated. “The global marketplace has become more important everyday, and we want to be considered a major benefactor of that effort.”
The agreement recognizes St. Louis as a potential hub for passenger and freight from China because of its central location. |
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| BUSINESS FINANCE CORPORATION NAMES FOUR NEW BOARD MEMBERS |
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The Business Finance Corporation (BFC) of St. Louis County recently added four members to its board of directors:
W. Randolph Adams – past president and executive director of the Saint Louis Symphony Orchestra (2001 to 2007), retired
Ken Kotiza – former president (retired) of UMB Bank, St. Louis; current vice president/producer of Welsch, Flatness & Lutz, a commercial insurance and financial consulting firm
Patricia A. O’Herin – regional executive vice president of Regions Financial Corporation
Vincent T. Volpe – assistant professor of management, John Cook School of Business, Saint Louis University
 “BFC of St. Louis County is proud to welcome its four newest board members,” BFC President Rick Palank said. “We are excited to move the organization forward and help small, local businesses receive the financing needed to thrive and keep our region viable.”
Located in St. Louis County, BFC is a certified development company that administers the SBA 504 loan program in eastern Missouri. The 504 finances long-term business assets and features unique advantages such as low down-payment and 20-year fixed rate. BFC has provided financing for more than 400 projects in St. Louis County with a total investment in excess of $373 million. |
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| COMMUNITY PROFILES: ST. ANN, RICHMOND HEIGHTS, CRESTWOOD |
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St. Ann - Incorporated in 1948, The City of St. Ann serves as a retail and residential hub for much of North County. Although recognized as a mature community of 14,000 residents, city leaders are undertaking an aggressive approach to redevelop vital parts of the city.
“Because we are the home of Northwest Plaza, retail has been a strong focal point of ours,” said St. Ann Mayor Tim James. “However, we are working to expand our economic base to ensure a more viable community.”
One of St. Ann’s strong assets is its proximity to Lambert International Airport. The city is developing a plan to develop office and industrial sites near the airport.
Served by the Pattonville and Ritenour School Districts, St. Ann officials are taking bold steps to assure graduates become permanent residents for the betterment of the region.
Richmond Heights – Located at the intersection of Interstates 64 and 170, Richmond Heights sits in the heart of the St. Louis metro area. With a population of nearly 10,000, the city is best known as being the home to the area’s most prolific shopping centers, the Saint Louis Galleria, and The Boulevard-Saint Louis.
“The Galleria and The Boulevard serve as the premier shopping destination of the region,” states Richmond Heights City Manager Amy Hamilton. “However, Richmond Heights is more than just a destination for retail.”
The community’s central location and highly regarded public school systems have made it a strong residential market for a number of families. Residents of Richmond Heights are just minutes from downtown St. Louis and can easily access Lambert Airport via Interstate 170 and the MetroLink light rail system.
The Richmond Heights Community Center and Memorial Library – the City's two strongest value-added service departments – occupy a single 73,167-square-foot facility best known as “The Heights.” In addition to a full-service library with The Heights provides recreation opportunities ranging from sports, fitness equipment, and swimming to recreational, educational, and lifestyle enhancement programs.
Much of the City’s current development projects are focused on strengthening tourism and increasing residential growth through mixed-use development projects.
Crestwood – With a population of nearly 12,000, the City of Crestwood is preparing itself for growth and investment.
“Crestwood is truly in the heart of what it taking place in the region,” said Mayor Roy Robinson. “We have all the attributes of a growing community.”
Strategically located along Interstate-44, Crestwood is served by a number of major highways allowing for an easy commute to a number of destinations.
Crestwood is undergoing change. Recently, Centrum Properties purchased the famed Crestwood Mall, which will go through major renovation and include an open air lifestyle center.
“This development is creating a lot of excitement in the region,” added Robinson. |
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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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