Missouri Minute: Residents could lose health coverage; St. Louis seeks international flight funds

Good morning, MBA readers,  

After a three-year pause in Medicaid eligibility renewals, Missouri could see some 200,000 people lose their health coverage when eligibility checks resume in April. Due to the federal public health emergency declared in March 2020 because of the COVID-19 pandemic, states have been barred from removing residents from Medicaid. But that pause is set to end in two months. In other news, some cannabis businesses in Missouri have signaled plans to begin selling marijuana for recreational use on Friday. As the state ushers in legal sales of marijuana to adults 21 and over, employment in the cannabis sector is taking off. Plus, officials in St. Louis are lobbying state lawmakers for money to boost international flights to their airport after Kansas City received funds for the same purpose. Read on for all your Friday business news.

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With some of Silicon Valley's biggest technology companies laying off employees by the thousands, the latest episode of the Business Brief podcast takes stock of what the sector's cutbacks mean in Missouri. Plus, as some economists continue to forecast a recession in 2023, the podcast features a conversation with a small business expert about how business owners can navigate economic uncertainty. 

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200,000 Missourians expected to lose Medicaid as eligibility renewals return

The state will recommence annual eligibility checks on April 1, after a three-year moratorium on removing people from Medicaid rolls expires. (Missouri Independent) 

US jobless aid applications fall to lowest level since April

The Labor Department reported 183,000 applications for the week ending Jan. 28. (Associated Press)

Long-term mortgage rate falls for fourth straight week

Mortgage buyer Freddie Mac reported the average 30-year mortgage rate fell to 6.09%. (Associated Press)

State poised to raise car dealer fees

The Missouri Department of Revenue announced a new rule that could add $65 per vehicle to the current $500 maximum administrative fee charged by car dealers. (St. Louis Post-Dispatch)

Lambert wants state funding for international flights

St. Louis Lambert International Airport is negotiating with state lawmakers over funding to lure international flights after Kansas City International Airport was awarded $5 million for the same purpose. (St. Louis Post-Dispatch) 

Global Prairie merging with Cleveland firm

The Kansas City-based marketing firm is combining with the Hileman Group, a 50-person, Cleveland-based marketing technology firm. (Kansas City Business Journal) 

Downtown St. Louis convention center needs more funds

The second phase of the $210 million project will not begin without more funding sources. Project planners have asked for $30 million from a settlement with the NFL's Rams to continue construction. (St. Louis Post-Dispatch) 

Kadean Construction moving to bigger space amid growth

The St. Louis construction company will relocate to a larger building in Sunset Hills in April to accommodate its growing staff. (St. Louis Business Journal)

Columbia’s Hinkson Creek Tree Farm to become park

In accordance with its late founder’s final wishes, the 201-acre former Christmas tree farm will be transformed into a city park. (Columbia Missourian) 

Say that again

"A lot of people had been looking to move to Missouri or move back to Missouri because that's where their family is, and it kind of gave them the opportunity to do so."

That’s Jamie Collins, human resources director at Agri-Genesis, a company that operates five marijuana dispensaries in Missouri. Agri-Genesis currently has around 120 employees, and it has been hiring since Missourians voted to legalize recreational marijuana use, looking to add about 30 more workers. With some cannabis businesses in the state expecting to sell marijuana for recreational use as soon as Friday, companies are expecting the marijuana market in the state to swell. Collins said the prospect of new jobs is attracting some workers to Missouri.

Go figure

975 

Kansas City will get the area code 975 due to its current area code, 816, starting to run out of numbers. People with 816 numbers will not have to worry about those changing, but phone lines being assigned new numbers could receive the 975 area code as early as this fall, The Kansas City Star reports.

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Pipeline, a Kansas City-based organization that provides training and a network for Midwestern entrepreneurs, has revealed nearly 30 founders who will participate in its two newest cohorts. Thirteen entrepreneurs will participate in Pipeline's flagship fellowship, Startland News reports. Another 15 will take part in the group's Pathfinder program, which caters to entrepreneurs who are not working on their businesses full time, and which specifically targets minority, women and rural entrepreneurs. More than 180 entrepreneurs have gone through Pipeline programs in the organization's 16 years. 

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Biotech for Mo

The Bioscience Industry Occupational Training and Equity Collaborative Hub for Missouri, or Biotech for Mo, is an initiative that will be used to train bioscience workers. BioSTL, an organization focused on the growth of biotech startups in the St. Louis area, received a $2 million grant that will be used to create the initiative, the St. Louis Business Journal reports. The money was part of $30 million in workforce training grants recently awarded by the state.

It’s been a pleasure doing business with you this morning.