Missouri Minute: UMB selling Scout Investments; Centene to break ground on campus expansion

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

UMB sells longtime subsidiary for $172.5M

UMB Financial Corp. will get cash for the planned sale of Scout Investments, Inc., a subsidiary it has owned for 35 years. Founded in 1982 as a division of UMB Bank, Scout will be sold for $172.5 million to Carillon Tower Advisers, a division of Raymond James Financial Inc. that is based in St. Petersburg, Fla. Read more

Centene to break ground on Clayton campus expansion

Centene Corp. will break ground Friday on its $770 million expansion in downtown Clayton, which has faced opposition from nearby residents. The campus expansion in the St. Louis suburb will make way for office space and parking to accommodate 2,000 more workers. Read more

Stonewalling, clashes slow progress to a crawl in Missouri Senate

Senators have been holding up progress on adopting Missouri’s 2018 budget and many other key legislative goals by holding a series of filibusters that repeatedly bring action to a standstill. Read more

Springfield sees hotel construction boom amid string of strong lodging years

In Springfield, four new hotels are currently under construction. Work on a fifth is slated to begin in the coming months. And they arrive following a string of good years for the city’s lodging industry. Read more

Laclede’s Landing could see revival with 100 new jobs, building turned into new apartments

Metro transit’s former headquarters in Laclede’s Landing is slated to be converted into 26 new apartments and offices for hundreds of new workers that a marketing agency next door plans to add. St. Louis Development Corp. approved on Thursday using $5 million in New Markets Tax Credits for the $11 million project led by Brian and Mike Minges of Advantes Development, according to an SLDC report. Read more

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