Good morning, MBA readers,
The new property tax assessment from Jackson County paints a picture of a disaster partially averted. Most residents will face at least some hike in their property tax, but only about 2% of homes will see the triple-digit percentage increases feared by many in recent months. And auto workers in the Kansas City and St. Louis areas will remain on strike as they vote on a tentative contract agreement with General Motors on Thursday. Scroll down for more on these stories and other business news from around Missouri.
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From our newsroom
Columbia Startup Weekend attracts variety of ideas, attendees
From peanut butter packaged in stick form to an app that helps people share leftover food, a wide range of business ideas were pitched and developed by 10 teams at this year’s Columbia Startup Weekend. Now in its ninth year, the event drew attendees from as far away as Alaska.
Missouri unemployment improves to 3.1% in September
The state’s seasonally adjusted unemployment rate for September was 3.1%. In the private sector, accommodation and food services saw the largest year-over-year job growth of any industry.
GM workers remain on strike as Wentzville workers set to vote Thursday
General Motors employees will remain on strike this week as they vote on a tentative agreement to end their five-week nationwide work stoppage. The Wentzville chapter of United Auto Workers will hold three informational meetings on Wednesday to explain the contract agreement and answer members’ questions. (St. Louis Post-Dispatch)
Colorado agrees to drop out of Sprint,T-Mobile merger lawsuit
The Colorado attorney general has agreed to drop out of a multistate lawsuit to block the merger between Sprint and T-Mobile after Dish Network agreed to house its wireless headquarters in the state. Dish agreed to buy Sprint and T-Mobile assets as part of the companies’ divestment agreement with the U.S. Department of Justice. (The Verge)
Centene, WellCare merger approved in five more states
The $17.3 billion merger deal between Clayton-based Centene and Tampa’s WellCare Health Plans has been approved in five more states, bringing the tally of supportive states to 24. The companies, which originally sought approval from 27 states, expect the deal to be completed in the first half of next year. (Tampa Bay Business Journal)
Metro East firm expands across river in downtown St. Louis for the first time
Gateway Multifamily Group, which owns more than 650 apartment units in the Metro East area of St. Louis, has acquired a $2.8 million building in downtown St. Louis. The deal is Gateway’s first one on the Missouri side of the region. (St. Louis Business Journal)
St. Louis botanical garden to break ground on $92 million visitor center in January
The Missouri Botanical Garden in St. Louis will begin work in January on a new 90,000-square-foot visitor center, officials announced Monday. The new Jack C. Taylor Visitor Center is set to open in spring 2022 and is designed to complement the existing 67,000-square-foot Ridgway Center. (St. Louis Post-Dispatch)
Say that again
“The resolution also calls on Missouri’s elected federal officials to join the Council in calling for this audit to determine whether public funding has been properly and efficiently spent on this project …”
That’s St. Louis County Councilman Mark Harder, who on Monday unveiled a resolution calling for a federal audit of a $25 million grant afforded to the St. Louis Loop Trolley’s taxing district, the St. Louis Business Journal reports. Harder’s bill follows the Loop Trolley Company’s request for $700,000 in public funding to keep the trolley running. The nonprofit organization said it needs at least $200,000 soon or could be forced to close by Nov. 15.
That’s the number of Jackson County homes that will more than double in property tax next year as a result of the recent controversial reassessment, The Kansas City Star reports. In all, that amounts to about 2% of the county’s 231,544 residential properties. About two-thirds of the county’s homes will rise 25% or less in property taxes, and another 13.5% of homes will rise between 25% and 100%. The new county assessment downplays initial fears of triple-digit percentage hikes all across the county. It also gives a boost to County Executive Frank White’s months-long defense of the reassessment process, which had been widely decried by local residents.
Hello, my name is
This Olathe, Kansas-based logistics company has sold to United Road Services of Romulus, Michigan, the companies said Monday. The Kansas City Business Journal reports that Team Drive-Away moves about 20,000 vehicles across the country through its network of 500 contractors. The combined company will handle over 4 million vehicles this year, the companies said.
It’s been a pleasure doing business with you this morning.