Missouri Minute: St. Louis nears adoption of tax abatement policy; Coolfire Solutions raises $11.5 million

Here are today’s top headlines from across Missouri:

St. Louis nears adoption of tax abatement policy

A new map to guide the use of residential property tax abatements in St. Louis could win adoption by the city’s Board of Aldermen on Friday. The map, though not binding, would offer a clear set of guidelines for a tool commonly used in city development efforts but often applied inconsistently. It’s one piece of a larger push to develop uniform policies for development incentives in St. Louis. Read more

Software startup Coolfire Solutions raises $11.5 million with backing from Enterprise

St. Louis-based software startup Coolfire Solutions has raised $11.5 million in a Series B funding round featuring investment from the venture capital arm of rental car giant Enterprise Holdings. Coolfire plans to use the capital to accelerate sales, marketing and product development efforts. Read more

UMB Bank announces new president and CEO

The largest bank in the Kansas City area has a new chief executive. Jim Rine is UMB Bank’s new president and CEO, effective immediately. He replaces Michael Hagedorn, who resigned Sept. 27, according to a filing Wednesday with the Securities and Exchange Commission. Read more

St. Louis fashion industry feels effects of China tariffs

People working in the St. Louis fashion industry are bracing for the impact of the latest rounds of U.S. tariffs on goods from China. Clothing producers large and small in the St. Louis area purchase materials from China, and new tariffs enacted in late September have many in the industry wondering where they will buy from now. Read more

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