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Today's Headlines
INTRODUCTION
One of the stories highlighted in this newsletter is Express Scripts’ recent announcement to expand yet again at its headquarters – the fourth in less than five years! Equally as important is the company’s impressive economic impact on the region and state. According to a study conducted by the University of Missouri-St. Louis, Express Scripts has contributed nearly $1 billion to the Missouri economy in 2010 and provided significant economic benefits including:
I applaud Express Scripts for its commitment to the region as well as the many other companies that have made significant investments in our community including World Wide Technology, Edward Jones, Covidien, and Scottrade, Seiler Instrument, Bitrode, Leinco Technologies, and Talisen Technologies.
I am confident that 2011 will be a stronger year for the Greater St. Louis Metropolitan Region, primarily because we are home to such innovative and forward-thinking companies. I wish each and every one of you a joyous and prosperous New Year! Charlie A. Dooley
EXPRESS SCRIPTS ANNOUNCES FOURTH EXPANSION
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Express Scripts' Technology & Innovation Center within the NorthPark business park. The company recently announced another local expansion. |
Express Scripts, one of the nation’s largest pharmacy benefit managers, recently announced another expansion at its North County headquarters—the fourth since 2007 when the company relocated its headquarters to the University of Missouri-St. Louis campus. The new building, which will be located in NorthPark, increases operating efficiencies, secures 1,300 current positions and will create another 150 new jobs.
"This development represents Express Scripts' commitment to St. Louis County, the region and the state of Missouri," said St. Louis County Executive Charlie A. Dooley. "The announcement was a great way to finish 2010 and brings with it momentum for 2011."
The additions include a data center along with a pharmaceutical dispensing line, filler pharmacy and expanded parking capacity.
Company officials anticipate the expansion to be complete by the end of 2011.
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2010 winners: Mobius Therapeutics, Climb So iLL and Mindfull Games. |
The second annual St. Louis Regional Business Plan Competition is an exciting opportunity for local entrepreneurs to showcase their business plans and compete for thousands of dollars in cash prizes and in-kind legal, accounting, marketing, and mentoring services. The competition is sponsored by investment brokerage and financial services firm Edward Jones and presented by St. Louis County Economic Council.
"In its inaugural year, the business plan competition generated more excitement than we anticipated, which really shows how strong the region’s entrepreneurial spirit is," said Economic Council President and CEO Denny Coleman. "We expect even more entries this year and welcome local entrepreneurs who believe they have a winning plan to compete."
In-kind professional services are provided by:
Application deadline is March 1, 2011. For rules and application, visit www.slcec.com or find us on Facebook.
Bio-Research & Development Growth (BRDG) Park at the Donald Danforth Plant Science Center has announced that Novus Nutrition Brands, LLC, a subsidiary of Novus International, Inc., has established laboratory and office space for its Stratum Nutrition and Arenus divisions within the research center’s Building 1.
Stratum Nutrition focuses on human nutrition through branded specialty and functional ingredients for foods, beverages and dietary supplements. Arenus produces multifunctional health products and supplements for horses and dogs that are part of the equine and companion animal communities.
"We are extremely pleased with Novus International’s decision to locate the labs for its Stratum Nutrition and Arenus divisions at BRDG Park," said Sam Fiorello, president of BRDG Park. "These divisions are part of one of the leading companies in the world in providing solutions and technologies in the animal and human health and nutrition industry, and they build added depth and breadth to the BRDG tenant mix as a key center of plant science innovation."
Novus will utilize its wet lab and office space at BRDG Park to conduct basic research in food and dietary supplement for Stratum Nutrition, as well as expand the research and development activities in the area of pet foods and equine supplements for Arenus.
St. Louis County Economic Council recently closed its first BOOST loan with Hazelwood-based Davidson Surface/Air, Inc. The international logistics company acquired a $500,000 loan, which was completed simultaneously with a $1.2 million loan from Great Southern Bank.
"BOOST was the ideal solution for our company," said Donald Davidson, president and CEO of Davidson Surface/Air. "We had a time-sensitive contract on a facility in north St. Louis County. Since there was a back-up contract on the same building, it was critical that we close within weeks, not months. BOOST provided a faster loan approval process than the SBA, which was an important benefit."
BOOST is a unique, St. Louis County alternative loan program to the Small Business Administration's (SBA) 504 loan, offering less restrictive requirements to borrowers who seek financing for the purchase or construction of land, buildings, machinery, and equipment within St. Louis County. BOOST benefits also include up to 90 percent financing, low floating interest rates or a variable fixed rate, no prepayment penalty for floating rate, and a 20-year term.
"Davidson is the perfect example of the benefits of the BOOST program," said Rick Palank, senior vice president of the Business Finance Division for the Economic Council. "It was designed to aid small business growth in a quick, cost-effective manner, and this closing demonstrates how it can be accomplished."
Davidson started the company in the basement of his North County home in 1981 with two trucks, one customer and no employees. Davidson Surface/Air has since evolved into a global company with business throughout the United States, Canada, United Kingdom, Denmark, and Japan. Today, the company has 25 employees, a fleet of more than 50 trucks, and revenues over $4 million.
Rock Hill recently announced it has received a "AA" bond rating from Standard & Poor’s. Cities rated AA are considered to have a "very strong capacity to meet their financial obligations." This is the first time the city has been rated.
Mayor Daniel DiPlacido commended staff for their ability to identify favorable market conditions and present its board with various options to enhance Rock Hill's financial strength.
Standard & Poor’s report noted that "Although the city’s financial operations have been pressured recently, stemming from declining sales tax revenues, we believe officials have been able to implement sufficient changes, allowing the city to maintain stable operations and very strong general fund revenues."
"The rating confirms that the recent difficult financial decisions made by the board of alderman have moved Rock Hill from an uncertain financial position to one of strength," said City Administrator George Liyeos.
The complete report is available online at www.rockhillmo.net.
