 |
|
Today's Headlines |
|
| INTRODUCTION |
Recently, St. Louis County, the City of Fenton and the State of Missouri hosted Dr. Ed Montgomery, director for the White House Council on Automotive Communities. At the request of U.S. Senator Claire McCaskill, Montgomery visited St. Louis County to discuss the affects of the closure of the Chrysler plant in Fenton and assure us that he is working with various federal agencies to coordinate needed resources for communities such as ours.
Dr. Montgomery and Senator McCaskill heard from St. Louis County Executive Charlie A. Dooley, Fenton Mayor Dennis Hancock, and Linda Martinez, director of the Missouri Department of Economic Development about the serious impact on both the local and state economies. I also commented on similar losses that the region has faced in the past, and how we were able to overcome them.
Over the next few weeks, St. Louis County will team with the City of Fenton, State of Missouri and our regional partners to develop a plan to overcome the loss of Chrysler. Implementation of the plan will not be easy, nor will the situation be remedied overnight. However, the Economic Council has proven through past experience that we will come out better in the end.
I am confident that with the right leadership and partners at the state, local and national level, the entire region will be able to overcome the current difficulties and create an even better St. Louis metropolitan area.
Denny Coleman, CEcD, FM
President and CEO |
|
|
| WHITE HOUSE AUTO COMMUNITY CZAR VISITS ST. LOUIS COUNTY |
|
Dr. Ed Montgomery addresses the public at
a recent hearing on the Chrysler Fenton plant. |
Dr. Ed Montgomery, director of the White House Council for Automotive Communities, recently visited the St. Louis area to conduct a public hearing on the impact of the Chrysler plant closing in Fenton. His primary focus is to assess the impact of plant closures and lead the federal effort to bring resources to the affected regions.
According to information provided by the Missouri Economic Research and Information Center (MERIC), the Chrysler closing will have the following impact:
- For every one job lost at Chrysler’s Fenton plant, another 5.28 jobs lost elsewhere within the state
- Decrease in gross state product of $592 million
- Loss of over $1 billion in economic output
Denny Coleman, president & CEO of St. Louis County Economic Council, spoke about how St. Louis County and the region pulled together to recover from similar job losses at McDonnell-Douglas and Ford. He noted that these two losses sparked a determination to expand the economic base toward target markets and entrepreneurialism.
“In fact,” Coleman stated, “this effort created a laser-like focus for the region, which is why we are a national leader in industries such as financial services, plant and life sciences, pharmaceuticals, and information technology.”
Montgomery expressed his condolences and admitted there are no easy or quick answers in relieving the hardships resulting from the plant’s closure. He pledged to do his best to cut “red tape” and urge the federal government be responsive in helping the region and its workforce back on their feet.
In addition to thanking Montgomery for personally making the trip to the region, County Executive Dooley, too, conveyed his empathy for those affected by the shutdown.
“While there are many people who share the blame for the demise of Chrysler, my heart goes out mostly to the hard working people at the Fenton plant who did nothing wrong, but are suffering the most,” Dooley said. |
|
|
| TECHGUARD HOSTS DOOLEY AND BOND, LAUNCHES NEW PRODUCT |
|
Brian Cooper and Carla Stone (left) join TechGuard CEO Suzanne Magee in
welcoming Senator Kit Bond and St. Louis County Executive Charlie A. Dooley. |
TechGuard Security, a leading supplier of technologies involved in cyber security, recently hosted St. Louis County Executive Charlie A. Dooley and Missouri Senator Christopher “Kit” Bond. During the visit, the company launched PoliWall Q, a high performance, policy-based, transparent bridging security appliance designed to block unwanted Internet traffic from selected countries with a single click.
“The launch of the PoliWall Q will be a tremendous asset to our national defense networks, and we are especially proud to have such a high-caliber company like TechGuard housed in one of our St. Louis Enterprise Centers,” said St. Louis County Executive Charlie A. Dooley.
TechGuard President and CEO Suzanne Magee invited Bond and Dooley to the launch because of their long noted support for small business and commitment to maintaining and improving American security.
“The recent attacks against our government networks underscore the very real threat of cyber terrorism,” Bond said. “The innovative work being developed at TechGuard Security is vital to our defense against cyber attacks.”
Established in 2000, TechGuard has been nationally recognized for its innovative technology solutions. It is located in the Economic Council’s St. Louis Enterprise Centers – West County in Chesterfield. |
|
|
| ENTERPRISE CENTERS REPORT 2009 SUCCESSES |
 St. Louis Enterprise Centers and its entrepreneurs have been busy in 2009, welcoming six new client companies and graduating five others.
The Enterprise Centers salute and support the following six companies that have become tenants since January of this year:
In addition, the St. Louis Enterprise Centers - Midtown graduated two client companies in June and South County is graduating three in August, making room for other startup, growing businesses.
Congratulations to the following five graduate companies:
- E-Data Solutions, Inc. – Offers a full range of business solutions that include marketing, online and content solutions.
- Gonzalez Companies - A minority-owned professional services firm that specializes in construction management, engineering and contract administration.
- Hill Brewing Company, Inc. – This minority-owned, craft beer brewer has won a number of awards for his classic American pilsner that is available at many local restaurants and grocery stores.
- TurnGroup Technologies - A full-service information technology firm, providing integrated business solutions to small businesses, government agencies and not-for-profits.
- Windows America – Offers products and installation for replacement windows, entry and patio doors, factory-certified siding, leaf-proofing and guttering.
As a nationally recognized leader in small business incubation, St. Louis Enterprise Centers provide entrepreneurs with affordable office and warehouse space, shared support services, access to expert mentors, professional seminars, and valuable networking opportunities. |
|
|
| BUILDINGWORKS RECEIVES WBE CERTIFICATION |
|
 BuildingWorks Inc., a leading resource for electronic data management for the building industry was recently awarded the Women’s Business Enterprise (WBE) certification.
The company collects, organizes, categorizes, and validates vital information that is eventually delivered to the owner at the end of construction. BuildingWorks, Inc. is located in the St. Louis Enterprise Centers – West County in Chesterfield.
To receive a WBE certification, a company must be an independent business concern that is at least 51 percent owned and controlled by one or more women who are U.S. citizens or legal resident aliens, whose business formation and principal place of business are in the U.S. or its territories, and whose management and daily operation is controlled by one or more of the women owners.
BuildingWorks Inc. was started in 1997 by Ann Schwetye, who serves as the company’s managing director. The concept for the product and service offering was born of Schwetye’s own experiences in the building marketplace. While working at a local architectural firm, she identified a glaring void in both the closeout manual assembly process and the resulting deliverable.
“Ann Schwetye and her company is another shining example of the entrepreneurial spirit that you will find in the St. Louis region,” stated Dennis Breite, Executive Director for the St. Louis Enterprise Centers. “We are very proud that she is experiencing much success while she calls the Enterprise Center her business home.” |
|
|
| COLLABORATIVE HONORS TWO DEPARTING MEMBERS |
The St. Louis County Economic Development Collaborative recently recognized two departing members for their long tenured service to the group’s board.
T.R. Carr, former mayor of Hazelwood, and Jim Murphy, former mayor of Normandy, stepped down from the board as their terms recently ended.
 |
| Economic Council President Denny Coleman hands T.R. Carr and Jim Murphy proclamations recognizing both for their contribution to the Economic Development Collaborative. |
“The Collaborative brings communities together to address key issues for the region,” Economic Council President Denny Coleman stated. “Both T.R. and Jim have been strong contributors in developing a vision for this organization and their experience and insight will be sorely missed.”
The Economic Development Collaborative was established to encourage community leaders to work together in developing long-term solutions for the betterment of the region. Both Carr and Murphy were charter members of the Collaborative Board. |
|
|
| RULES RELAXED FOR TAX-EXEMPT BONDS |
 One element of the American Recovery and Reinvestment Act is the immediate relaxation of several regulations that pertain to tax-exempt bonds for manufacturers. These include:
- Removal of the 25 percent ancillary facility limitation, meaning that bonds can be used to finance more non-core manufacturing assets
- Ability to use the bonds to produce intangible property such as software production, research labs, recording and film studios
- Temporary suspension of alternative minimum tax
Manufacturers may also be eligible for even lower interest rates similar to the additional benefits provided by bank qualified bonds.
For additional information, please call Rick Palank at 314.615.7667, or visit the SLCEC Business Finance Web site. |
|
|
| ST. LOUIS COUNTY HEADLINES |
|
| |
|
|
|
