Missouri Minute: Earnings taxes, mayoral votes highlight local decisions

Hello, MBA readers,

On Election Day in Missouri, voters in the state’s two largest cities are determining the fate of taxes vital to local budgets. Kansas City and St. Louis residents are deciding if 1% municipal earnings taxes will remain in effect for five more years. St. Louis is also electing a new mayor, as is Springfield. In non-election news out of St. Louis, a pandemic-driven eviction moratorium in the city has been extended until early May. This breaks with St. Louis County, where a judge allowed a local eviction ban to be lifted as of Monday. And, with baseball season in full swing, Forbes has released its annual ranking of Major League Baseball franchise valuations. The St. Louis Cardinals rank among the most valuable franchises in the sport, while the Kansas City Royals are near the bottom of the league.

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Earnings tax votes, mayoral races highlight local decisions
Voters in Kansas City and St. Louis are deciding Tuesday whether to extend 1% earnings taxes in their cities another five years. St. Louis is electing a new mayor in the city’s first mayoral final featuring two women. Springfield, too, is choosing its next mayor. (St. Louis Public RadioKansas City StarSpringfield News-LeaderColumbia Missourian)

St. Louis Circuit Court extends eviction moratorium
The city’s pandemic-driven ban on evictions will continue through May 3 even as St. Louis County lifted its moratorium Monday. (St. Louis Business Journal)

Terracon Consultants acquires Texas company
The Olathe, Kansas-based engineering consulting firm has acquired Sport Environmental Services, which it has partnered with in advising clients in the Texas oil and gas sector. (Kansas City Business Journal)

Developer backs out of $335 million St. Louis project 
Illinois-based Cullinan Properties said it is abandoning the development of Iron Hill, an 850,000-square-foot mixed-use project near St. Louis University, because of the COVID-19 pandemic. (St. Louis Business Journal)

Guadalupe Centers CEO retires amid investigation 
Cris Medina announced his retirement Monday after 40 years with the Kansas City nonprofit. He is credited with growing the organization, which offers a variety of programs to the city’s Latino community. (Kansas City Star)

Construction company to break ground on ‘net-zero’ HQ 
Construction consulting firm Navigate Building Solutions will build a new $1.2 million headquarters in Brentwood that the firm says will be the state’s first “net-zero” commercial building, meaning it creates as much energy as it uses. (St. Louis Business Journal)

Say that again

“I feel like for many people, you have so many different hats, and you still had to be Mom.”

That’s Deanna Munoz, a mother of three in Kansas City, reflecting on her experiences juggling various responsibilities during the pandemic. Munoz left her job of 15 years in December, following the deaths of her brother and mother, The Beacon reports. She is one of more than 2.3 million women in the U.S. who have left the workforce since last February, compared to 1.8 million men, according to the National Women’s Law Center. And, according to a McKinsey & Company study, mothers are more likely than fathers to spend three or more hours a day on child care and household chores. Munoz and other women in the workforce have faced a disproportionate burden as they navigate jobs and family in the midst of the pandemic.

Go figure

$2.25 billion

The St. Louis Cardinals baseball franchise is worth $2.25 billion as the new Major League Baseball season begins, according to an annual valuation by Forbes. The Cardinals once again rank seventh out of MLB’s 30 teams, with their value rising 2% since 2020. West on Interstate 70 in Kansas City, the Royals ranked toward the bottom of that Forbes list, at No. 28. The magazine pegged their value at $1.06 billion, a 3% increase over last year.

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Following an appearance on the television show “Shark Tank,” the Springfield-based entrepreneurs who created StepNpull walked away with $300,000 in exchange for a 6% stake in their company, the Springfield Business Journal reports. Kevin O’Leary, the investor nicknamed Mr. Wonderful, made the investment. O’Leary was not the only interested party, as investors Lori Greiner and Daymond John also offered capital. StepNpull, which makes hardware that can be affixed to doors to enable hands-free opening, has seen sales surge since the onset of the pandemic.

Hello, my name is

Carbon Health

This San Francisco-based health care startup is growing rapidly, with two new locations coming to the Kansas City area, the Kansas City Business Journal reports. The locations will offer urgent care and primary care. Carbon Health also has a digital platform to facilitate telemedicine. The company aims to provide easily accessible health care to its customers, with plans to open 1,500 clinics in more than 50 markets across the U.S. by 2025. It closed a $100 million investment round in November in order to fund this expansion.


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