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| WELCOME TO SLCEC DEVELOPMENTS NEWSLETTER |
I am proud to present St. Louis County Economic Council's first ever electronic newsletter. Our mission is to inform allies, premier investors, vendors and marketing partners about the tremendous assets in St. Louis County and its communities.
Recipients of this newsletter will find it is unique in presentation style. Every month, you will receive a newsletter from this organization; however, the author of each circular will rotate in concert with two of our other divisions. In January, our Business Finance Division will provide an overview of the numerous projects we have funded and the financial impact we are having in the region.
In February, our Enterprise Center will debut its newsletter detailing the many outstanding companies located within our four incubators. This bulletin will also provide tips on the various services we offer to entrepreneurs.
Our overall general newsletter will reappear in March with this sequence continuing in the same fashion.
This newsletter will showcase the successes of St. Louis County and its communities, and demonstrate our dominance as the economic hub of the entire region.
St. Louis County has recently announced a number of new investments ranging from the Kerry Group acquiring the former Nestle plant to a groundbreaking ceremony at the nationally renowned NorthPark. St. Louis County and its communities, in partnership with strong allies like the Missouri Department of Economic Development, are proud to serve as the primary force for new investment in the region.
We encourage you to forward this newsletter to colleagues, business contacts and other allies who will recognize the superior attributes of St. Louis County and our region. If you have any questions, please do not hesitate to visit our website at www.slcec.com or contact our staff at 314.615.7663.
Thank you.
Denny Coleman
President |
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| FINANCE ELECTRONIC NEWSLETTER TO START THE NEW YEAR |
Greetings!
I am Rick Palank, Sr. Vice President for Business Finance with the St. Louis County Economic Council. The business finance division provides a unique variety of loan and bond programs that can save a small or medium-sized business thousands of dollars annually.
The 504 Loan Program provides long-term, below-market fixed rate financing (current 20-year fixed rate is 6.54%) for the purchase of fixed assets (land, building, machinery and equipment).
Our tax-exempt and taxable bond programs provide the lowest cost of funds available for manufacturers and 501(c)(3) organizations. These bonds have benefited a wide variety of organizations, including Laumeier Sculpture Park, The Magic House, Whitfield School, to name a few.
For companies in need of growth capital, the Saint Louis Business Development Fund fills a real void in the marketplace - in investing in companies without taking any ownership. Serving the entire St. Louis region, SLBDF is owned by 22 banks and the three largest economic development agencies in the area. It is professionally managed by St. Louis County Economic Council.
Look for more details in the upcoming January newsletter to see how we might be able to help you increase your capacity with the right funding options from our organization.
I'd be happy to discuss any of our programs with you or your clients. Please contact me, Rick Palank, at 314.615.7667. |
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| ENTERPRISE CENTER NEWSLETTER TO DEBUT IN FEBRUARY |
I am Jan DeYoung Executive Director for St. Louis Enterprise Centers. The SLCEC is committed to providing supportive services and environments for business growth in St. Louis County and the surrounding area. As a nationally recognized leader in small business incubation – the St. Louis Enterprise Centers provide new and growing businesses with affordable space, shared support services, access to mentorship and advisory services, and valuable networking opportunities. The St. Louis County Economic Council has strengthened its commitment recently with the establishment of its Center for Business Growth (CBG), which has as its mission to accelerate the growth of small to medium sized businesses through advisory/mentorship services.
SLCEC operates four highly successful incubators throughout the St. Louis region, serving over 70 companies representing a diversity of regional industries. One in South County at 315 Lemay Road, a second in Wellston in Mid County at 6439 Plymouth Avenue, and a third in West County off Chesterfield Airport Road in Chesterfield. Our fourth facility is located within the City of St. Louis at 3830 Washington Avenue near the Saint Louis University campus.
While our client companies appreciate the affordable cost structure and outstanding location of each of our incubators, the Enterprise Centers do far more than just provide affordable space. Many of our client companies will tell you the greatest benefits range from assisting a start-up or emerging company form a coherent business plan, to providing resource links and access to capital, to the camaraderie gained from sharing a building with other budding entrepreneurs who share successes and obstacles gained from their experiences.
Look for our newsletter in February to gain more insight on the benefits of the Enterprise Centers and Center for Business Growth. We will highlight the successes of both current and "graduated" clients, showcase one of our fantastic centers and provide new insight on the best way to start or accelerate the growth of your business in St. Louis County.
In the meantime, if you have any questions, please do not hesitate to contact our office at mglen@slcec.com or call us at 314.615.0118.
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| NORTHPARK SPARKS RENAISSANCE FOR ST. LOUIS REGION |
St. Louis County Executive Charlie A. Dooley welcomed officials from the region and state to celebrate the ground breaking of NorthPark.
The 550-acre premier location sits in the heart of one of the most attractive locations in the St. Louis region. The park sits on the north side of Interstate 70, strategically place near Lambert International Airport and across the interstate from the University of Missouri -- St. Louis.
Dooley praised the collaborative spirit that brought this cutting edge business park to fruition.
"St. Louis County is proud to have led the team that created this wonderful development", Dooley stated.
"NorthPark is a reality because of the efforts of the City of St. Louis, Missouri Department of Economic Development, the cities of Berkeley, Ferguson, and Kinloch along with Lambert International Airport and UMSL," Dooley added.
Developers of the park, McEagle Properties and Clayco, came together to form a unique partnership in order to create the best possible location in St. Louis. It is estimated the $400 million project will eventually create 12,000 jobs and generate an estimated $7 billion in regional economic impact.
Investment in the area has already paid off as Dooley and Vatterott College President Peter Mitchell announced the park's first tenant. The school, offers over 20 vocational programs on three campuses, will relocate its headquarters and primary educational facilities to the NorthPark campus in 2007.
The $15 million facility will total 90,000 square feet and house both office and educational space. |
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| EDWARD JONES SEES STRONG RETURN IN MARYLAND HEIGHTS |
Missouri Governor Matt Blunt, St. Louis County Executive Charlie A. Dooley and senior officials with Edward Jones recently held a joint news conference recently to announce the company's plans to invest over $275 million in St. Louis County.
Edward Jones will construct three buildings totaling 650,000 square-feet at the company's Maryland Height's campus along Interstate 270. Once completed, the investment will create approximately 1000 new jobs for the region.
"It is evident officials with Edward Jones recognize the benefits of a St. Louis County location," stated SLCEC President Denny Coleman. "This announcement is a testament to the strong cooperative relationship that exists between the County, City of Maryland Heights, Missouri Department of Economic Development and the Missouri Department of Transportation.
Company officials also praised the joint efforts in securing the new investment.
James Weddle, Managing Partner for Edward Jones stated, "This is a terrific partnership between government and private enterprise that will help Edward Jones accommodate anticipated continued growth while greatly enhancing the economic vitality of the entire St. Louis region."
SLCEC President Denny Coleman also praised John Nations and John Diehl from the St. Louis law firm of Nations, Hettenbach & Diehl, LLC.
"Their firm did a superb job in representing the interests of Edward Jones while also balancing the difficult task of managing this enormous project with our staff," Coleman noted. "Both sides, at all times, kept everything in perspective and never let the pressure of this project get in the way of developing a spirit of mutual trust."
Recognized as one of the nation's leading financial services company, Edward Jones employs over 3,500 people throughout the St. Louis metropolitan area and is listed as one of the largest private sector employers in region. |
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| COUNTY AND COMMUNITIES PARTNERING IN NEW COLLABORATIVE INITIATIVE |
St. Louis County Executive Charlie A. Dooley recently announced the formation of the St. Louis County Economic Development Collaborative.
At a press conference, detailing the formation of the new effort, Dooley outlined how the St. Louis County Economic Development Collaborative will improve communication and cooperation among the county's 91 municipalities and unincorporated areas. Dooley said the new program will lead to enhanced job attraction, retention, creation and expansion.
"This collaborative will create a unified strategic vision that respects the individual communities, yet enhances the county as well," said Dooley. "It's a forward-thinking effort dedicated to improving the quality of life for everyone who works or lives in the County, and we need input and collaboration from all our municipalities and communities to achieve that goal."
During the press conference, County Executive Dooley introduced David Leezer as the new SLCEC Vice President charged with overseeing the Collaborative.
Leezer stated, "This collaborative's strategic plan will be based on each leader's input. My goal in meeting with each leader individually is to gain the perspective of each community and help mold that into a winning plan for the entire county." |
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| JENNINGS CELEBRATES GRAND OPENING OF BUZZ WESTFALL PLAZA |
Officials from St. Louis County, St. Louis County Economic Council, the City of Jennings and Target Corp. recently took part in a ribbon-cutting ceremony to mark the opening of the first store in the new 500,000 square-foot, $60 million Buzz Westfall Plaza on the Boulevard, former site of the Northland Shopping Center in Jennings.
"We are thrilled to welcome Target to Jennings and celebrate the first milestone in opening the Buzz Westfall Plaza on the Boulevard," said St. Louis County Executive Charlie A. Dooley. "This development will increase access to quality shopping and services for residents in North County, while also increasing job opportunities and encouraging further economic growth."
According to Sansone Group, the developer of the project, Plaza on the Boulevard will create 1,000 permanent jobs upon completion. Almost 290,000 people live within a five-mile radius of the shopping center.
SLCEC President, Denny Coleman, noted projects like the Westfall Center come together because all parties focused on a common goal.
"This was a true partnership," Coleman stated. "I give a lot of credit to the SLCEC Real Estate and Community Development staff, under the direction of Jackie Wellington, along with Jennings Mayor Ben Sutphin, Public Works Director Richard Perry and the leadership group within the city for bringing this project to fruition."
In addition to Target, Plaza on the Boulevard is anchored by a 63,000 square-foot Schnucks Supermarket and houses several other stores and businesses. |
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| KERRY GROUP MIXES UP A NEW HOME IN AFFTON |
The Kerry Group plc, an Irish-based manufacturer of food ingredients and flavoring markets, recently announced the purchase of the former Nestle plant in Affton.
The company will utilize the 70,000 square-foot facility as a baking operation to supply cereal companies with baking ingredients. The $10 million investment will create 40 new jobs for St. Louis County.
SLCEC's Business Development Division, under the direction of Steve Anderson, served as the primary project contact with the company and their Chicago-based site location advisor, Deloitte Consulting. Monica Conners, Project Manager in the Business Development Division, helped guide the parties through the site review and incentive negotiation stage of the project.
"Our staff, the RCGA and the Missouri Department of Economic Development did a tremendous job in coming together to secure a viable owner for the Affton facility," stated St. Louis County Economic Council President and CEO Denny Coleman.
"Because of our partnership, The Kerry Group and Deloitte Consulting clearly realized the St. Louis County region was the best place for them, " Coleman added.
St. Louis County Executive Charlie A. Dooley praised the company's choice of redeveloping an existing structure in St. Louis County.
"Officials at The Kerry Group must be commended for their vision in recognizing the great potential of the former Nestle plant and the outstanding workforce in the Affton area. This is truly a "win-win" scenario for everyone," Dooley noted. |
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| ST. LOUIS COUNTY CONNECTING INTO BROADBAND AND WIRELESS TECHNOLOGY QUILT |
Possibilities in creating countywide broadband and wireless technology infrastructure – a "Technology Quilt" for St. Louis County or even the entire region – would lead to economic growth, improved public safety and health, educational advances and sophisticated disaster preparedness in the region, according to St. Louis County Executive Charlie A. Dooley.
During an interactive demonstration of broadband and wireless advances at the University of Missouri-St. Louis, Dooley challenged the St. Louis County Economic Development Collaborative to develop a plan by July 2007 for implementing a countywide "Technology Quilt" within 30 months. St. Louis County Economic Council has commissioned Fusiva LLC, a St. Louis-based technology consulting firm, to conduct an assessment of the technology infrastructure currently in place in the county and provide recommendations on adding infrastructure. Fusiva will report its findings to the St. Louis County Economic Development Collaborative in January 2007.
"Fast, high-quality and easily accessible communication is key to economic competitiveness in the 21st century," Dooley said. "Strong technology infrastructure is as vital as good roads and clean, safe water in encouraging business expansion, attracting new businesses and ensuring the safety and health of our residents and workers. This proposal is exactly the sort of project the Economic Development Collaborative was created to champion, and I look forward to seeing their plan for connecting our community and securing our future."
Currently in St. Louis County, a device with wireless capabilities, such as a laptop or cell phone, can connect to the Internet when it is located within a "hotspot." Dooley's proposal calls for the 91 communities and unincorporated areas in St. Louis County to work together in creating a countywide "hotspot." The infrastructure would assist economic development, disaster-preparedness, education, entertainment, homeland security and public health initiatives and would break down many of the barriers to high-speed Internet access currently being experienced by county residents and workers. |
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| ST. LOUIS COUNTY JOINS FORCES WITH CITY OF WELLSTON FOR NEW PARK |
Charlie A. Dooley, St. Louis County Executive, and Wellston Mayor Frank McNeil Sr. along with other local officials recently broke ground the Wellston Neighborhood Park.
"The City of Wellston is beginning to enjoy an economic and cultural revitalization," said Dooley. "The park is the next step in that revitalization, and through the partnership we've built with Wellston, St. Louis County Economic Council plans to continue this period of growth by capitalizing on all the opportunities present within the community."
The Wellston Neighborhood Park will not only provide much-needed green space, but also make desired recreational facilities available to the community. The park will adjoin a neighborhood where 38 new homes have been constructed.
An additional 66 new homes, with 25 more underway, were constructed just north of the park, making its location easily accessible for many children and families.
Once complete, the park will host a youth baseball field, a half basketball court, a playground area, a concession stand, a picnic shelter and a walking path.
Partnering with the Economic Council on the green space development is the City of Wellston, Cardinals Care, Great Rivers Greenway, Greater St. Louis Regional Empowerment Zone, Gateway Foundation and Forest ReLeaf of Missouri. |
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