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INTRODUCTION

Jefferson Barracks was established as the nations first Infantry School of Practice and has housed such famous Americans as Zachary Taylor, Jefferson Davis, Robert E. Lee, Ulysses S. Grant, and William T. Sherman.

One of the many attributes that makes St. Louis County a great place to live and work is its diversity of Fortune 500 companies and successful small businesses. The large companies undoubtedly add tremendous value to the quality of life St. Louis County possesses; however, equally as important and sometimes less conspicuous are the small companies that dot our landscape.

Frequently, I extol the virtues of our small businesses and their ability to strengthen our regional economy. While their sales and number of employees may be comparatively smaller, collectively, they leave an impressive stamp on the region, investing and creating jobs at an equally significant rate as their larger counterparts.

I understand the regional importance of growing our small businesses and have recognized a need for even greater support. Since the beginning of the year, St. Louis County has introduced two new programs in support of entrepreneurship. Through St. Louis County Economic Council, we have created a one-of-a-kind loan program in partnership with PNC Bank called BOOST and a regional business plan competition to spur entrepreneurial growth.

I thank the many sponsors who have provided monetary and in-kind awards for the business plan competition including Edward Jones; Thompson Coburn LLP; Carmody MacDonald P.C.; Armstrong Teasdale LLP; RubinBrown LLP; UHY Advisors MO, Inc.; LarsonAllen LLP; Fleishman-Hillard, Inc.; Brighton Agency, Inc.; Standing Partnership, Inc.; and Innovate Venture Mentoring Service.

Small business is the lifeblood of our economy, and St. Louis County is devoted to growing local companies of all sizes. I am confident that this commitment will be one of the reasons the County will continue to be an ideal location to start and grow companies for years to come.

Charlie A. Dooley

St. Louis County Executive

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COUNTY EXECUTIVE OUTLINES BOOST LOAN PROGRAM

St. Louis County Executive Charlie A. Dooley recently unveiled an innovative small business loan program that is deemed the first of its kind in the United States and will help enhance lending for entrepreneurs.

The BOOST loan program is an alternative to the Small Business Administration's (SBA) 504 loan program, offering less restrictive requirements to borrowers seeking financing for the purchase or construction of land, buildings, machinery, and equipment within St. Louis County. The program is being administered by the Business Finance Division of St. Louis County Economic Council.

"With the credit crisis and small business owners having difficulty in obtaining financing, BOOST comes at an opportune time," said Dooley. "It provides borrowers with a viable option that's not hampered by bottlenecks, red tape and high costs. I believe that BOOST will serve as a model for similar programs nationwide."

The Economic Council is partnering with PNC Bank to provide $5 million in lending - in loans of up to $500,000 - with up to a 20-year term. In addition to receiving up to 90 percent financing, borrowers have the option of a variable or fixed-rate with no prepayment penalty for the floating rate.

"Borrowers will appreciate the added benefits BOOST provides such as having the choice of a floating or fixed-interest rate," said Rick Palank, senior vice president for the Economic Council's Business Finance Division. "The program is unique not only in this option, but in its less restrictive requirements for net worth, income size and personal liquidity limits."

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ST. LOUIS REGIONAL BUSINESS PLAN COMPETITION UNVEILED

St. Louis County Economic Council, in partnership with Edward Jones, announced a business plan competition to promote entrepreneurship and the development of startup and early-stage companies in the St. Louis region. This is the first time an economic development agency in the State of Missouri has partnered with a national company to support small businesses.

"Small business is the backbone of the American economy. Today, during some of the worst economic times the United States has seen, small businesses are making the biggest positive impact on the economy," said St. Louis County Executive Charlie A. Dooley. "This competition will help promote entrepreneurialism in our region and award those with solid business plans extra stability to help them succeed."

St. Louis County Economic Council will award the three top winning companies with prize money of $50,000 for first place, $30,000 second and $20,000 third place. The prize money is provided by Edward Jones. In addition, legal, accounting and marketing services will be donated by local companies including Thompson Coburn LLP; Carmody MacDonald P.C.; Armstrong Teasdale LLP; RubinBrown LLP; UHY Advisors MO, Inc.; Larson Allen LLP; Fleishman-Hillard, Inc.; Brighton Agency, Inc.; and Standing Partnership, Inc. Mentoring also will be provided by Innovate Venture Mentoring Services.

"Small businesses represent our nation's growth engine," Weddle added. "We know what it takes for a small business owner to survive and succeed, and the 2010 St. Louis Regional Business Plan Competition helps encourage that success."

Every for-profit industry sector is eligible and businesses have to be new or in its early stage with no more than $100,000 in annual revenue. The deadline for submitting applications is Tuesday, March 9, 2010. For additional information about the eligibility requirements, competition rules, judging criteria, and important deadlines, visit our Web site.

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NICHOLAS AGRAWAL JOINS BUSINESS DEVELOPMENT DIVISION

Doug Rasmussen, vice president of the Business Development Division for St. Louis County Economic Council announced the appointment of Nicholas Agrawal to the department's project manager/analyst position.

"Given the increase in project flow we have been experiencing, it was vital for our division to add someone of Nick's talent and intellect." Rasmussen stated. "I am confident he will be a great asset for our organization."

A native of Chesterfield, Agrawal earned a Bachelor of Science in finance and economics from New York University's Stern School of Business. His background includes internships with Robert K. Futterman & Associates, assisting in real estate market analysis and cash flow modeling; Wachovia Securities where he managed nearly 30,000 accounts with a combined market value of approximately $10 billion; and the City of Chesterfield where he reviewed the effects of Tax Increment Financing (TIF) and Transportation Development Districts (TDD).

"I appreciate the confidence Doug has in me, and I look forward to helping the Economic Council produce the best responses for projects that will benefit the County and communities," said Agrawal.

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JEFFERSON BARRACKS INTRODUCES MASTER PLAN

On January 25, 2010, St. Louis County Economic Council hosted an open house to present a comprehensive, long-range master plan for Jefferson Barracks, South County's historic landmark. The year-long planning process included a review of its history, an analysis of the existing conditions, physical characteristics, surveys, social and economic conditions, recommendations, and public input.

St. Louis County Executive Charlie A. Dooley, United States Congressman Russ Carnahan, St. Louis County Councilman Steve Stenger, and Woolpert, designer of the master plan, discussed the proposed plan with local residents.

"The rich history of Jefferson Barracks is an economic asset that deserves our attention," Dooley said. "Our goal is to create a long-term plan, a vision, which showcases the property and its surroundings as a true destination that celebrates Jefferson Barracks' inherent historical value."

The master plan addresses Jefferson Barracks' potential tourism impact, recreational attributes and expansion of a Veterans Affairs medical center on the grounds. It was designed to generate economic development while preserving Jefferson Barracks' historic character and surroundings.

Funding for the study was provided through a grant by the Office of Economic Adjustment, United States Department of Defense.

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ST. LOUIS COUNTY HEADLINES

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