Missouri Minute: Monsanto acquisition boosts Bayer earnings; Tax credits for filmmakers gain momentum 

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We begin today with an ending — “Avengers: Endgame,” that is. The latest movie in the multibillion-dollar franchise featuring Iron Man, Thor and company is opening this week on a record 4,600 screens nationwide. Today’s Morning Minutes, meanwhile, features Five Elms, Rivian and Hyperloop, and it’s open on your screen — which is what really matters to us.

Stay alert

Despite legal woes, Monsanto acquisition boosts Bayer earnings
Quarterly core earnings are up 45 percent to $4.67 billion thanks to Bayer’s acquisition of the Creve Coeur-based seed maker. (Reuters)

Tax credits for filmmakers gain momentum 
The Missouri House on Wednesday gave initial approval for a proposal that would give filmmakers a 20% tax credit if they spend over $500,000 in the state. (Columbia Missourian)

Ford invests $500 million in electric vehicle startup Rivian
Ford, which produces its F-150 pickup truck in Kansas City, joins Amazon in backing Rivian, which specializes in trucks and utility vehicles. (Bloomberg)

PayIt partners with Jackson County’s tax collectors
The Kansas City startup will launch a mobile and web-based app called myJacksonCounty, which will allow residents to manage their property tax payments digitally. (Kansas City Business Journal)

St. Louis airport police vote to unionize
The unanimous vote would have the St. Louis Police Officer’s Association absorb and represent all 50 airport police officers at the rank of sergeant or below. (St. Louis Post-Dispatch)

St. Louis jobs chief resigns amid payroll probe 
Alice Prince’s St. Louis Agency on Training and Employment has prompted investigations by the U.S. Department of Labor and Missouri Auditor Nicole Galloway. (St. Louis Business Journal)

Regulators warn bottles from Missouri winery could explode
The Division of Alcohol and Tobacco Control in Missouri has found that bottles from Casa de Loco in Eldon have exploded in stores and during an inspection due to unknown causes. (Associated Press)

Say that again

“I think the way that we should think about freight is this: three keywords. Just in time.” 
Virgin Hyperloop CEO Jay Walder spoke at a KC Tech Council event on Wednesday, assuring the crowd that Missouri remains a top contender for the high-speed transportation project, Startland News reports. Walder said Hyperloop can solve major logistical problems for companies like Amazon by drastically cutting time delivery time.

Show me

Today’s graphic looks at how Missourians get to work. The daily commute in Missouri involves more solo drivers, fewer carpoolers and less public transit than the national average, according to Census Reporter data.

Go figure

$300 million

That’s how much Five Elms Capital has raised for its fourth investment fund. With this new fund, the Kansas City-based venture capital firm plans to continue investing in business-to-business software, the Kansas City Business Journal reports. Five Elms typically invests between $4 million and $40 million in firms with $2 million to $20 million in revenue.

Hello, my name is

Civil Life Brewing

The brewery plans to open a new pub and add an additional canning line to its existing facility in St. Louis, the St. Louis Business Journal reports. The craft beer industry, once dominated by draughts and bottled beer, is seeing an influx of canned drinks. Civil Life’s investment in this trend could give it a boost in St. Louis’ crowded craft beer market, which included 53 breweries as of July 2018.

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