|
 |
|
|
RCGA MEMBERS' RECOMMENDATION SOUGHT FOR 2005 LEGISLATIVE AGENDA
Decisions made in Jefferson City, Springfield, and Washington affect your organization’s ability to grow and prosper. The RCGA Public Policy Council Executive Committee would like to know what specific policy issues have the greatest impact on the growth of your company.
You are invited to present your
issue before the Committee on Tuesday,
Sept. 28. By hearing from our members, the Committee can better understand the regional, state and federal legislative policies facing businesses and organizations.
This hearing is also an opportunity for your issue to be included in the 2005 RCGA legislative agenda. Previous hearings have led to legislative action on historic preservation tax credits, brownfields credits, and many other crucial issues impacting the region.
If you are interested in testifying on a
specific issue, please call Eric Schneider at (314) 444-1148 or eschneider@stlrcga.org. Deadline is Sept. 7.
 Missouri Gov. Bob Holden signs the “Jobs Now” economic development bill during ceremonies at St. Louis Community College at Florissant Valley in Ferguson. This bill, a major legislative priority of the RCGA and Forward Metro St. Louis during the 2004 Missouri Legislative session, enhances proven business attraction and retention tools, such as Missouri BUILD ($15 million), community colleges job training ($25 million) and infrastructure investments. In the background state Sens. Anita Yeckel (R-St. Louis County) and Jim Mathewson (D-Sedalia) look on. |
|
SOUTHWEST AIRLINES BOOSTS SERVICE
Starting Oct. 4, Southwest Airlines plans to offer several additional daily nonstop flights between St. Louis and Orlando, Fla. The company made the announcement while celebrating the delivery of its 400th plane, a Boeing 737. In all, 18 new flights will be added in several markets in September and October. The airline also plans to accept delivery of several new aircraft this fall to help support growth and expanded service.
HOLLAND STARTS
RADIATION CENTER AT
ALTON MEMORIAL
Construction is underway on the new $1.5 million radiation therapy center at Alton Memorial Hospital. Holland Construction Services is the general contractor for the project. The 6,000-square-foot facility will be adjacent to the hospital’s medical office building and will offer the highest level of cancer treatment in the area, officials say. The hospital is investing a total of $3.6 million to build and equip the center.
CONSTRUCTION STARTS ON GREAT RIVERS GREENWAY
| David Fisher, executive director, The Great Rivers Greenway District, at the June 1 groundbreaking. |
|
The Great Rivers Greenway District has broken ground on its first phase, a four-mile biking and walking trail along the River Des Peres in St. Louis. Construction is anticipated to be complete by fall 2004 with an investment of $5.5 million by Great Rivers Greenway. The Greenway will begin where the current City parks trail ends and will extend to Morganford Road. It will include 12-foot trails, two dedicated pedestrian bridges, signed crosswalks, a dedicated path through the Christy Greenway and a smaller extension through Marcus Park.
“The River Des Peres Greenway is a signature project for the district,” stated Janet Wilding, project manager at Great Rivers Greenway.
The four-mile greenway is the pilot project of the 1998 River Des Peres Beautification Plan, a joint project by St. Louis City, St. Louis County, the Metropolitan Sewer District, the Army Corps of Engineers and the East-West Gateway Council of Governments.
2005-2009 REGIONAL ECONOMIC DEVELOPMENT CAMPAIGN PROGRESSES
As the second five-year Economic Development Campaign draws to a close at the end of 2004, RCGA Chairman Doug Yaeger has assembled an informal working group to evaluate the performance and impact of the first two Campaigns and address a new organization for the region’s economic development needs as we look forward to the third Campaign.
| Doug Yaeger, RCGA chairman, and chairman, president and CEO, Laclede Group Inc. |
|
Joining Yaeger are Joe Hasten, chairman of the Greater St. Louis Economic Development Council; David Kemper, president of Civic Progress; Jim Murphy, chairman of the Regional Business Council (RBC), and Scott Schnuck, RCGA vice chairman and chairman-elect.
Dealing with the tough economic conditions during the second Campaign, which runs through December 2004, we were able to retain local jobs that were in jeopardy—including the 2,600 jobs at Ford Hazelwood, the 1,000-plus jobs at Pfizer, the hundreds of jobs at Dial, the 2,500 jobs at CitiMortgage, and the 600-plus jobs at Reuters.
2000-2003 Four-Year Results
|
| New Projects |
510 |
| Site Visits to the Region/Prospect Visits |
238 |
| Successes (New, Retained or Expanded Facility) |
74 |
| Jobs – Direct New & Retained |
19,472 |
| Jobs – Indirect Employment Impact of these New & Retained Jobs |
30,680 |
| Total Job Impact of 74 Successes |
50,152 |
| New Capital Investment in these Deals |
$1.4 billion |
| Addition to Gross Regional Product from these Deals |
$4.4 billion |
| Overall Estimated Annual Economic Impact for these Deals |
$8.8 billion |
All tolled, the second Campaign helped attract and retain some 19,500 jobs, with a direct and indirect job impact of over 50,000 (See chart).
Based on the experiences of the first two Campaigns, direct feedback from our current
economic development investors, and reflection on best practices around the country, the working group believes a simplified governance process, defined goals, performance measurements and better accountability, along with increased dedicated economic development funding, are needed to ensure our region remains competitive and successful going forward.
The strategic plan for the third Campaign (2005 – 2009) builds on the progress made during the prior two Campaigns and the “product improvement” initiatives developed by the RCGA. As these initiatives have begun to yield positive results within the region and the national and regional economies have begun to improve, we will be re-emphasizing the “nuts and bolts” of economic development deal-making—supported by a significantly-expanding external marketing and brand position for the region.
The annual budget of the current campaign has dropped to $2.7 million from an initial $3.1 million. The St. Louis region is competing every day with other regions that are making substantially greater annual investments for comparable programs; for example, Cincinnati at $5 million, Kansas City at $3 million, Louisville at $5.2 million, and Omaha at $4 million.
The proposed new annual budget for the upcoming campaign is $4 million. This $1.3 million increase will be devoted to jumpstarting the marketing and branding capacity of the region, both nationally and internationally.
Watch for more details of the plan and governance process (as well as our progress toward reaching the $4 million annual goal) in upcoming issues of Commerce.
With this energy, leadership and financial support, the St. Louis region will continue to make solid progress toward growing our regional economy and branding our region as a vital hub for business, entrepreneurs and talent.
AMERICAN AIRLINES
ADDS CANCUN FLIGHT
American Airlines has added one weekly nonstop flight between St. Louis and Cancun for the busy summer travel season, bringing the total weekly nonstop flights to two. The company said it has added other flights in approximately 50 domestic and international cities, as well as to seasonal destinations, to provide more travel options for summer travelers.
BOEING BEGINS ASSEMBLY OF KOREAN F-15K AIRCRAFT
Boeing has started the final assembly of the first F-15K Strike Eagle fighter for the Republic of Korea Air Force. During the final assembly in St. Louis, the forward, center and aft fuselage assemblies of the aircraft are joined, followed by the wing assemblies. Once the structure is completed, mechanical and electrical subsystems will be installed. Assembly is scheduled to be finished in October, and the first flight is scheduled for March 2005. The first two aircraft are slated for delivery in October 2005.
The F-15K Strike Eagle was selected as the Korean Next Generation Fighter in 2002. Valued at $4.2 billion, the deal will deliver 40 F-15Ks, with associated weapons, to Korea beginning in 2005 and ending in August 2008.
BJC BREAKS GROUND ON
ST. CHARLES HOSPITAL
Construction is underway on Progress West Healthcare Center, BJC HealthCare’s new 72-bed hospital in O’Fallon, Mo. The site is located near the intersection of Highway 40 and Highway K. Initial plans call for Progress West to include an emergency unit, medical/surgical inpatient care, outpatient surgery, diagnostic services and obstetrics. BJC officials said the company is building the new facility to accommodate the county’s tremendous population growth, which it estimates will require 25 additional beds per year to meet health care needs.
KEVIN KIPP
(1956-2004)
Kevin E. Kipp, a longtime contributor to Commerce, died from cancer July 5 in St. Charles. He was 48. Kevin, who owned his own public relations and communications firm, was known for his lively writing style and keen interest in his subjects. His versatility and wide-ranging curiosity permitted him to cover virtually any subject, from automobile manufacturing to stock markets to celebrity profiles.
Kevin’s death received extensive press coverage in St. Charles. The St. Charles Journal—to which Kevin also contributed—wrote that Kevin was “known for his quick wit as well as his appreciation for fine food and a good bottle of wine.” John Sonderegger, a friend of Kevin’s and a columnist for the St. Louis Post-Dispatch, wrote, “In another time, Kipp could have served kings as a court jester and a trusted confidant.” He went on to say, “If we’re known by the friends we make in this life, Kevin Kipp lived a wonderful life.”
Kevin left behind a daughter, Samantha, and three brothers. We at the RCGA and Commerce send our condolences to his family.
ECONOMIC SNAPSHOT
A MONTHLY LOOK AT THE REGION'S ECONOMY
| The rapid growth of the St. Louis economy has been fueled to a great extent by growth in the professional and business services
sector. In 2004 (YTD), this sector has grown by over 15,000 jobs. |
| Though venture capital (VC) investments fluctuate by quarter, St. Louis
has enjoyed a steady stream of VC funding since the beginning of 2002,
with no less than $10 million per quarter for eight consecutive quarters. |
|
ST. LOUIS ARGENT INDEX
A MONTHLY SNAPSHOT OF LOCAL STOCKS
|
|
|
June Change |
YTD Change |
12-Month Change |
Close |
|
|
|
|
|
|
| Argent Index |
|
-6.1% |
-2.0% |
8.3% |
894.58 |
| Arch Coal |
ACI |
-7.71% |
8.34% |
65.60% |
$33.77 |
| Ameren |
AEE |
4.03% |
-2.85% |
13.10% |
$44.69 |
| AG Edwards Inc. |
AGE |
-4.50% |
-10.30% |
-10.40% |
$32.50 |
| Angelica Corp. |
AGL |
-4.14% |
9.41% |
28.60% |
$24.07 |
| Argosy Gaming |
AGY |
-13.22% |
25.55% |
40.60% |
$32.63 |
| AMR Corp. |
AMR |
-30.39% |
-34.90% |
-9.80% |
$8.43 |
| Boeing Inc. |
BA |
-0.67% |
20.43% |
55.40% |
$50.75 |
| Bank of America Corp. |
BAC |
0.46% |
5.69% |
6.80% |
$85.01 |
| Bunzi PLC |
BNL |
-3.12% |
5.48% |
17.10% |
$41.00 |
| Peabody Energy |
BTU |
0.34% |
34.69% |
84.70% |
$56.18 |
| Anheuser-Busch Cos. |
BUD |
-3.89% |
-1.48% |
1.90% |
$51.90 |
| Belden CDT Inc. |
BWC |
-9.24% |
-7.78% |
50.80% |
$19.45 |
| Brown Shoe Co. |
BWS |
-21.26% |
-15.03% |
9.40% |
$32.23 |
| Commerce Bancshares |
CBSH |
1.44% |
-4.92% |
14.30% |
$46.61 |
| Charter Comm. |
CHTR |
-20.97% |
-23.13% |
-36.30% |
$3.09 |
| Centene Corp. |
CNE |
1.17% |
39.24% |
33.30% |
$39.00 |
| CPI Corp. |
CPY |
-8.83% |
-33.60% |
-17.70% |
$13.42 |
| D&K Healthcare |
DKHR |
-16.50% |
-26.11% |
-33.80% |
$10.02 |
| Amdocs Ltd. |
DOX |
-7.38% |
-3.47% |
6.50% |
$21.70 |
| Engineered Support |
EASI |
-4.17% |
1.83% |
90.20% |
$56.07 |
| Emerson Electric Co. |
EMR |
-4.48% |
-6.25% |
16.00% |
$60.70 |
| Energizer |
ENR |
-15.33% |
1.44% |
11.20% |
$38.10 |
| ESCO Technologies |
ESE |
-1.33% |
20.62% |
8.70% |
$52.65 |
| Express Scripts Inc. |
ESRX |
-17.20% |
-1.25% |
-0.60% |
$65.60 |
| Furniture Brands Intl. |
FBN |
-8.26% |
-21.65% |
-1.70% |
$22.98 |
| Insituform Technologies |
INSU |
10.45% |
8.91% |
7.20% |
$17.97 |
| Jacobs Engineering |
JEC |
1.52% |
-16.73% |
-8.80% |
$39.98 |
| KV Pharmaceutical |
KV/B |
-26.69% |
-28.56% |
-3.50% |
$18.51 |
| Kellwood Co. |
KWD |
-7.81% |
-2.07% |
24.20% |
$40.15 |
| Laclede Gas Co. |
LG |
-1.82% |
-5.74% |
3.50% |
$26.91 |
| May Department Co. |
MAY |
-3.49% |
-8.74% |
11.30% |
$26.53 |
| Monsanto Corp. |
MON |
-5.82% |
25.99% |
59.90% |
$36.26 |
| Maverick Tube Corp. |
MVK |
9.82% |
49.82% |
74.80% |
$28.84 |
| Panera Bread Co. |
PNRA |
2.81% |
-6.65% |
-10.90% |
$36.89 |
| Pulitzer Publishing Co. |
PTZ |
-5.42% |
-14.35% |
-2.30% |
$46.25 |
| Ralcorp Holdings Inc. |
RAH |
3.61% |
16.29% |
34.90% |
$36.47 |
| Reinsurance Group |
RGA |
-1.97% |
3.10% |
12.10% |
$39.85 |
| RehabCare Corp. |
RHB |
-10.06% |
12.65% |
49.70% |
$23.95 |
| SBC Communications |
SBC |
4.49% |
-2.80% |
14.40% |
$25.34 |
| Spartech Corp. |
SEH |
-7.86% |
-3.00% |
7.00% |
$23.90 |
| Stifel Financial Corp. |
SF |
-10.88% |
24.31% |
101.20% |
$24.24 |
| Sigma-Aldrich Corp. |
SIAL |
-3.64% |
0.45% |
1.90% |
$57.44 |
| Source Interlink Cos. |
SORC |
-16.37% |
-12.43% |
10.80% |
$9.30 |
| Smurfit-Stone Corp. |
SSCC |
-6.72% |
0.22% |
24.30% |
$18.61 |
| TALX Corp. |
TALXE |
-9.46% |
-3.95% |
4.30% |
$22.12 |
| US Bancorp |
USB |
2.69% |
-4.97% |
19.20% |
$28.30 |
| MEMC Electronics |
WFR |
-8.00% |
-5.51% |
-19.40% |
$9.09 |
| Young Innovation Inc. |
YDNT |
7.20% |
-24.36% |
-6.90% |
$27.23 |
|
|
|
|
|
- - - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - - - -
|
