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One Plan Working together to make St. Louis a more attractive place for people to live, work and invest Our Regional Strategy to Inspire a Greater St. Louis
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• Multimodal Logistics • Biosciences
We are a broad community of leaders united for economic prosperity throughout the entire St. Louis bi-state region We will help unite the public and private sectors to advance and secure policy necessary to support our plan. Our aspiration is for St. Louis to be one of the Top 10 U.S. Regions in prosperity by 2025 as measured by selected economic indicators. We will champion a better tomorrow through community leadership on three priorities: • Greater Educational Attainment • Inclusion + Talent Attraction • Entrepreneurship + Innovation We will win on today’s regional strengths in focused economic clusters: • Financial Services •Health • Multimodal Logistics • Biosciences
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Educational Attainment % Adult Population with College Degree 14 —
Regional Indicator Current Rank Recent Trend To Reach Top 10 by 2025 Educational Attainment % Adult Population with College Degree 14 — Add 75,000 adults total or an additional 6,000 BA degrees per year Average Annual Population Growth 19 Add 26,200 new residents per year to achieve 1.3% growth rate Net Migration as Share of Population Add positive net migration of 13,000 to 14,000 persons per year Per Capita Personal Income (Current $) Add $4,600 more per capita income per person per year Annual Growth Per Capita Personal Income 4 Retain Top 10 position for income growth while increasing rank in per capita income Annual Growth Gross Regional Product (GDP) Add an additional $10 billion from 2013 to (in 2009 dollars) to reach 3% growth rate in the region’s GDP. Average Annual Employment Growth 20 Add 90,400 additional jobs, or an extra 7,000 jobs per year Key: Increasing rank Decreasing rank — No change in rank Data Sources: U.S. Census Bureau, U. S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics Forecast Source: Woods & Poole 2014
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We will win on today’s regional strengths in focused economic clusters: financial services, health, multimodal logistics and biosciences.
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Focused Economic Clusters
Today’s economy requires a balanced approach to economic development, with interconnecting strategies. Our customer forums are addressing a variety of factors impacting each cluster. In biosciences, we are working through a strategic partnership with BioSTL to jointly recruit bioscience companies to locate, expand and start up in St. Louis. Focused economic clusters
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Selected 2015 Announcements
45 new jobs $4.6 million New Investment In April we celebrated with Spectrum Brands and our economic development partners Spectrum Brands combining its United Pet Group and its Home & Garden division into St. Louis. The expansion will generate 45 new jobs with an average annual salary of $83,000. Just a few weeks ago, Israeli agtech company Forrest Innovations selected St. Louis as the location of its U.S. headquarters. The company’s decision represents the third success in seven months for an initiative led by BIOSTL to identify Israeli companies for recruitment. Forrest Innovations is an agtech company working at the forefront of technology to address two major challenges in the outdoor environment: reducing mosquito-carried disease and overcoming a bacteria that is threatening the citrus industry’s existence. Have 6 announcements that are pending: 2 in financial services space; 2 in multi-modal/manufacturing; 1 each in biosciences and health economy. Our team is working hard generate new quality leads and projects within the targeted clusters. Year-to-date, our team has made 186 one-on-one briefings with companies and site location consultants to building relationships and tell the story of why our region is a good location for their industry and clients. 10 new jobs $4.9 million New Investment Selected 2015 Announcements
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We will champion a more prosperous economic region through effective leadership on three community priorities: greater educational attainment, inclusion and talent attraction, and entrepreneurship and innovation.
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Entrepreneurship and Innovation
Investment in infrastructure like equity capital and accelerators like T-REX is beginning to pay off with startups, like RoverTown that is developing a program to offer discounts to college students. The young company has outgrown its space and becoming a new downtown tenant. It also illustrates how important policy tools and long-term strategies, like Missouri Technology Corporation, are to help raise seed capital. Centene is partnering with Smart Monitor, one of the Prosper-back companies, to test their SmartWatch in Florida. The SmartWatch was developed for people prone to epilepsy and seizure disorders. Focused economic clusters
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Educational Attainment
One sure way to raise the rate of college attainment in our region is to encourage working adults to complete their degrees. Degrees That Work was launched in the spring and includes a tool kit to help employers to implement key policies to encourage degree completion. Degrees That Work
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Inclusion and Talent Attraction
Fellow is a year-long leadership development program. 400 alumni of which 5 are CEOs 52% have been promoted in last 18th month 47% serve on non-profit boards 74% participate in Fellows activities . Recruiting year 10
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We will unite the public and private sectors to advance and secure policy necessary to support our plans in a host of key areas Advancing the public policy to support the plan is critical. Two top issues for Missouri this year were: Restoring the trust in the justice system through municipal court reform: Senator Eric Schmitt’s municipal court reform bill, which the Governor signed into law, reduced the percentage of general revenue municipalities are allowed to generate through court fines for traffic-related offenses to 12.5% in St. Louis County and 20% in the rest of the state. Increased funding for the Missouri Technology Corporation: The General Assembly passed and Governor signed into law the highest level of core funding ever for MTC, at $15.86 m million for FY 2016. Illinois: While Governor Rauner and the Illinois General Assembly worked together to resolve an immediate budget crisis earlier this year, they have still not come to agreement on how to balance a $6.1 billion hole in the 2016 budget. Although the General Assembly session was scheduled to end at the end of May, Speaker Madigan and Senate President Cullerton have been calling the normally part-time legislators back to Springfield each week. The current fiscal year authorization expires on June 30, meaning that the two sides have little time to reach agreement. Key points of disagreement include workers compensation and Governor Rauner’s push for so-called “local right to work” laws.
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One Plan Working together to make St. Louis a more attractive place for people to live, work and invest Our Regional Strategy to Inspire a Greater St. Louis
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