Missouri Minute: Springfield plans large downtown redevelopment; Peabody buys Alabama coal mine for $400 million

Here are today’s top headlines from across Missouri:

Missouri State, Springfield developer plan major downtown redevelopment

Missouri State University and the Vecino Group want to redevelop a swath of downtown Springfield into an expanded business district designed to help the city attract and retain growing companies. Plans for the $55 million first phase call for a 100,000-square-foot office building, a 30,000-square-foot expansion of the existing Jordan Valley Innovation Center and a 400-space parking garage. Read more

Peabody Energy acquiring Alabama coal mine for $400 million

Peabody Energy has agreed to buy an Alabama mine from Drummond Co. Inc. for $400 million, the St. Louis-based coal producer announced Friday. The Shoal Creek metallurgical coal mine, located in central Alabama, provides coking coal to European and Asian markets. Read more

Shuttered Shop ‘n Save stores could add to St. Louis retail vacancies

In addition to creating uncertain futures for some 1,300 workers in the St. Louis area, Supervalu’s plan to sell off its Shop ‘n Save stores in the region also raises questions for the local real estate market. The situation is compounded by a glut of retail space still vacant from the departures of Toys R Us and Sports Authority, which together have vacated about 700,000 square feet of retail space in the area in recent years.Read more

State university officials address plans to ramp up research

The University of Missouri System Board of Curators met Friday, devoting much of its focus to efforts to boost research within the statewide university system. Alexander Cartwright, chancellor of the University of Missouri in Columbia, said MU will open an Office of Research Advancement to achieve his previously stated goal of doubling research spending in five years. Read more

Former state senator Silvey appointed to lead Public Service Commission

Gov. Mike Parson has appointed Ryan Silvey as the new chairman of the Missouri Public Service Commission. Silvey, formerly a Republican state lawmaker representing the Kansas City area, has served since January on the Public Service Commission, which regulates utilities and other monopolistic businesses in the state.Read more

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