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   Today's Headlines
   INTRODUCTION

St. Louis County has experienced a string of unprecedented successes that demonstrates our commitment to growth in the region. A number of factors are important for the success of a project including workforce, education, cost of doing business, and incentives.

The issue of incentives is one that many times gains the most attention.  We at the Economic Council are very sensitive to this issue and work diligently to insure that a proper return is acquired when public dollars are invested.

When the Economic Council is involved in a project which utilizes incentives, we thoroughly research how this project will affect St. Louis County and the region.  Not only do we look at the investment the company is making but also job creation/retention figures, average salaries, and infrastructure improvements.

Benefactors of these incentives are not just corporations, but also the local residential population.  For example, Edward Jones is investing $391 million in both Des Peres and Maryland Heights.  Part of the incentive package from the Missouri Department of Transportation, Missouri Department of Economic Development, City of Maryland Heights and St. Louis County is improvements to the I-270 and Dorsett interchange.  Clearly, Edward Jones employees will benefit but so will thousands of commuters on Interstate 270 who have no ties with the company.

Often, our competition, both domestically and internationally, offers far more in an attempt to convince a company to leave this area.  Why?  Because they cannot match our inherent advantages that truly do add some value to our industries.  

Advantages like a stronger workforce and better business climate are invaluable to a company. These factors alone will not sway a project, but they are important. 

Which is better for the region:  Offer a strong package which includes incentives for a good corporate citizen like Brown Shoe, or turn our backs on the company and allow them to relocate to Wisconsin?  Keeping Brown Shoe, and expanding their presence here, is a far better option!

Most importantly, what happens when these companies receive these benefits?  They provide good paying jobs for thousand of residents of St. Louis County and the surrounding area.  Furthermore, revenues to all taxing jurisdictions increase dramatically even during the incentive period.

We at the Economic Council understand the careful balance of offering the proper amount of incentives to generate a healthy return for our citizens.  I am convinced that whatever project we have worked on, the citizens and taxpayers of the county and region have benefitted significantly and will continue to do so for decades to come!

Denny Coleman
President and CEO

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      CENTENE MAY CONSTRUCT NEW CLAYTON HEADQUARTERS
Clayton-based Centene Corporation is looking to potentially expand its operations in the county through construction of a new headquarters. The project—if agreed to by all parties—is expected to create 800 new jobs by 2015.

The company’s preliminary plans call for initial construction of a LEED-certified 560,000-square-foot office complex. Centene also will add an additional 30,000 square feet of retail space.

“Discussions are currently under way with Centene to revisit its Clayton site for its new and expanded headquarters,” said Clayton Mayor Linda Goldstein. “We are hopeful Centene will view its current home as an ideal one to build on for the future.”

St. Louis County Executive Charlie A. Dooley echoed Goldstein’s sentiments. “We work hard everyday to keep high-quality companies like Centene in our region,” Dooley said. “We believe the opportunity to keep their proposed mixed-use development in Clayton will provide this important and growing company with a state-of-the-art world headquarters that will serve them well for years to come.”

The State of Missouri is also in discussions with Centene. “We have been firmly committed over the last three years to creating an economic climate that helps Missouri businesses grow and expand their presence in our state,” said Missouri Governor Matt Blunt.

“Our proposal is a sound investment in the St. Louis region’s economic future,” Blunt said. “I am pleased to partner with the Missouri Development Finance Board, City of Clayton and St. Louis County to help this Missouri employer create more jobs for workers and families.”
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      NORTHPARK PARTNERS SHOWCASE INNOVATIVE DESIGNS
NorthPark Partners recently hosted a special event to reveal the latest cutting-edge buildings on its 550-acre campus.

NorthPark Partners, comprised of McEagle and Clayco, formed a joint partnership to create the most extensive development in the St. Louis region. Located in north St. Louis County, this expansive mixed-use development site sits along Interstate 70 immediately north of the University of Missouri-St. Louis and provides easy, convenient access to Lambert International Airport.

NorthPark will construct the first Leadership in Energy and Environmental Design (LEED) certified speculative office building in the Midwest. The three-story, 150,000-square-foot building called HPOD (High Performance Office Design) includes more flexible configurations, energy savings in wiring and cabling, and raised floors, which create more efficient HVAC circulation.

“The largest reinvestment project in St. Louis County history, NorthPark, is thriving and becoming the center for regional development and excellence,” said St. Louis County Executive Charlie A. Dooley. “Combined with the existing unparalleled technology infrastructure and community revitalization, NorthPark is attracting and retaining businesses that create good jobs and enhance the quality of life for those who live and work in St. Louis County.”

Also under construction is a $12 million Hilton Garden Inns, scheduled to open its doors in 2009.

Already nearing completion is NorthPark’s 120,000-square-foot business center projected to house 900 employees. This flex-space facility will serve as Corporate Express’ distribution center and Phase II of the Express Scripts headquarters. The building is scheduled to be complete by the end of 2008.

Phase I of the NorthPark project included the nationally touted Express Scripts headquarters on the UM-St. Louis campus and Vatterott College’s new $15 million national headquarters.
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      CHAMPION BANK JOINS SLBDF AS NEWEST SHAREHOLDER
The Saint Louis Business Development Fund (SLBDF) welcomed Champion Bank as the company’s newest shareholder.

Champion Bank joins 23 other St. Louis area banks, St. Louis County Economic Council, St. Louis Development Corporation and the Economic Development Center of St. Charles County.

“This is a great fit for both parties,” said Rick Palank, senior vice president of business finance at the Economic Council and SLBDF president and CEO. “Champion Bank has a vast understanding of the local market and their presence will enhance our ability to help the local industry.”

The SLBDF invests in selected, locally based, growing companies that demonstrate significant potential for success but are unable to access sufficient senior debt to finance organic growth or acquisition. The SLBDF is professionally managed by St. Louis County Economic Council.

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      SLCEC HONORED AT NORTH COUNTY INC. ANNUAL MEETING
North County Incorporated (NCI) recently recognized several area leaders for making a significant impact in north St. Louis County. Hundreds of business, civic and community leaders gathered at NCI’s 31st Annual Breakfast to honor this year’s recipients.

Among the honorees was Denny Coleman, president and CEO of St. Louis County Economic Council recognized for his dedication to the economic development of North County.

In recognizing Coleman and SLCEC, NCI Chairman Mark Tranel stated:

“Over the past several years, St. Louis County Economic Council under the leadership of Denny Coleman has increased efforts to maintain and create a vital community for businesses and citizens of North County, devoting much of the Council’s energy to development and collaboration in this area.

“Several projects that the Economic Council played a role in include: the retention of the National Archives and Records Administration Center; assisting the City of Jennings with the redevelopment of the underutilized Northland site; and an intergovernmental agreement that has made NorthPark one of the largest developments in the state of Missouri.”

Tranel also mentioned the SLCEC’s involvement in the Wellston-Pagedale corridor as well as the securing of two Enhanced Enterprise Zones in North County as successes led by Coleman.

In response to his award, Coleman stated: “We are honored to be recognized by a valuable partner like North County Inc. The successes mentioned are clearly a result of the leadership of County Executive Dooley, our communities and the strong partnerships you have allowed us to forge with you.”
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      RICK PALANK NAMED CHAIR OF CDFA
Rick Palank, senior vice president of business finance for the St. Louis County Economic Council was recently elected as the new chair for the Council of Development Finance Agencies (CDFA). The announcement was made at the organizations’ annual meeting held in St. Louis.

"CDFA is very pleased to have Rick as our new board chair. Rick is a tremendous asset to the industry, and his knowledge, expertise, and past board experience will help to continue the momentum that CDFA has built as the premier leader in the development finance industry," said CDFA President and CEO Toby Rittner.

Palank also serves as the president and CEO of the Business Finance Corporation of St. Louis County, a certified development company that administers the SBA 504 loan program in eastern Missouri; he is the president and CEO of the St. Louis County Industrial Development Authority; and founder, president and CEO of the St. Louis Business Development Fund, the only for-profit, multi-bank community development corporation serving the entire St. Louis region.

“I am honored my colleagues have entrusted me with this position,” said Palank. “What makes this even more meaningful is the announcement was made in St. Louis during CDFA’s most successful annual meeting ever.”

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   COMMUNITY PROFILES: OVERLAND, KIRKWOOD, SUNSET HILLS

OVERLAND – Strategically located along the Interstate 170 corridor in North County, the City of Overland is developing a long-term strategy for investment and growth.

“Today, we are looking at ourselves in a different way,” said Mayor Mike Schneider.  “Overland understands its role in the region, and we are working with our neighbors to fulfill that mission.”

Schneider added, “We see this as an opportunity to not only improve communication but come together to solve problems, reduce costs and increase investment in the area.”

Overland is the home of Alberici Enterprises, one of the world’s leading providers of general contracting, construction management, specialty contracting, and design-build services. Their 110,000-square-foot facility has been awarded a LEED Platinum certification by the U.S. Green Building Council.

The city of over 16,000 residents has not, however, placed its entire future on the success of one company. Mayor Schneider states that Overland is looking to diversify its economic base.

The city’s proximity to Interstate 170 and Lambert Airport provides incentive for companies looking to relocate and/or expand their business.

Overland offers a lot of tangible benefits for companies involved in retail, office and manufacturing,” Schneider said.


KIRKWOOD - The City of Kirkwood was established in 1853 and today boasts a population of over 27,000. Located in west St. Louis County, Kirkwood lies just north of Interstate 44, east of Interstate 270, and directly along U.S. Highway 61.

Tourism plays a vital role in this community. Kirkwood is the home to Powder Valley Nature Center and the famed Magic House, but the city does not rely solely on this segment for growth and economy.

“We have a strong mix of retail and Class A office space, which helps solidify Kirkwood’s economic base,” said Mayor Art McDonnell. “Transportation is also a key element not only because of our proximity to the interstates, but also because an Amtrak station is in the heart of our town.”

The station is staffed by a group of dedicated volunteers who assist passengers. In 2003, Kirkwood purchased the station and now rents the facility for special events, which include weddings, receptions, family gatherings, and class reunions.

Kirkwood boasts over 300 acres of parkland with amenities such as a large central park with an aquatic center, ice rink, outdoor amphitheater, ball fields, tennis courts, picnic sites, and playground areas, as well as smaller neighborhood parks.

The community is also proud of its walkable downtown shopping area complete with an open air farmer’s market.

Kirkwood is very proud of its exceptional school system,” McDonnell added. “The Kirkwood School District has one of the highest graduation rates in the country.”


SUNSET HILLS – Incorporated in 1957, Sunset Hills embraces its position in St. Louis County as a strong location for retail, office and residential development. This community of approximately 8,200 residents offers a number of benefits to the region.

Because of its proximity along Interstate 44, Highway 61 and Highway 30, Sunset Hills has a strong workforce and easy access to a number of major employers throughout the region. Though the community provides far more than just a quality workforce.

Its location also makes it an attractive place for corporate and back office operations. In addition, Sunset Hills has proven to be a great home for a number of companies involved in a variety of retail services.

Bolstering its position in the area, Sunset Hills is served by two highly regarded public school systems: Lindbergh and Kirkwood. St. Louis Community College–Meramec Campus is also easily accessible Sunset Hills.

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     ST. LOUIS COUNTY HEADLINES
 
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Visit www.SLCEC.com!
Visit the Business Development Division!
Visit the Real Estate and Community Development Division!
Visit the World Trade Center - Saint Louis!
Visit the St. Louis Enterprise Centers!
Visit the Business Finance Division!
Visit the Center for Business Growth!
Visit SLCEC's Media Center!
Visit the St. Louis County Government website!
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Did You Know?

The mean
commuting time to work
for St. Louis County
residents is only
22.8 minutes.

(Source:  U.S. Census Bureau, 2006 Estimates)

 

 
Contact the SLCEC!
 

 

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.