Missouri Minute: St. Louis biotech sees VC spike; Greitens announces family leave

Here are today’s top business headlines from across Missouri:

St. Louis biotech startups see funding spike 87 percent

St. Louis biotech startups raised $242 million from venture capitalists in 2016, an 87 percent increase over 2015 totals, according to the BioEnterprise Midwest Healthcare Growth Capital Report. More companies were funded, too, with 27 startups receiving investment in 2016, up from 25 in 2015. Read more

Sungevity’s struggling KC office received only part of promised tax benefits

Sungevity, which last week laid off more than two-thirds of its Kansas City staff, received only a fraction of the $11.8 million in potential tax breaks that were offered to attract the company here. The solar panel marketing company opened a sales office in downtown Kansas City in early 2015. Read more

Greitens announces paid family leave for executive branch workers

Missouri Gov. Eric Greitens announced Monday that state workers for executive branch agencies will now be able to receive paid leave when they have a child. Under the policy, executive branch employees will be eligible for six weeks of paid leave after the birth or adoption of a child if they are the primary caregivers or three weeks of paid leave if they are the secondary caregivers. Read more

Isle of Capri closes on $40 million Casino Queen deal

Isle of Capri Casinos Inc. has wrapped up its $40 million sale of an Iowa casino to an affiliate of the Casino Queen. The sale of the Lady Luck Casino Marquette, which was announced in October, closed Monday. Read more

Gordmans files for bankruptcy in latest example of retail swoon

Gordmans Stores Inc., a Nebraska-based discount department store chain that lists a dozen locations in Missouri, filed for bankruptcy after posting losses in five of the past six quarters. Gordmans is the latest victim in a retail industry suffering from sluggish mall traffic and a move by shoppers to the internet. Read more

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