The Weekly Wrap provides a rundown of the top stories from the week that was in Missouri business:
The Missouri Department of Transportation released a draft of its long-range transportation plan that shows a significant drop in revenue. According to the draft, funding for road and bridge construction has decreased from $1.3 billion in 2009 to $746 million in 2013 — and it is projected to dip to $425 million by 2019. Read more.
Missouri could save $42 million a year once it expands and revamps Medicaid, the public health care program for the poor. Rep. Jay Barnes, R-Jefferson City, presented the fiscal study during a committee meeting and portrayed it as a starting point for discussion, not a bill he is ready to file. Read more.
Missouri Lt. Governor Peter Kinder said he is dropping plans to run next year for the 8th congressional district seat now held by fellow Republican Jason Smith. Kinder declined to give interviews after making the announcement in a news release. Kinder’s decision marks at least the third time when he’s publicly declared plans to run for office and then backed off. Read more.
Missouri state government revenue has grown 2.5 percent since the fiscal year began July 1, thanks to continued increases in individual and corporate income tax collections, plus a bump in sales taxes. The state’s budget for this fiscal year is based on a projected revenue increase of 3.1 percent. Read more.
Hallmark Cards Inc. is streamlining its development process for greetings cards, which will eliminate about 100 positions this year in the Kansas City area. The Kansas City-based company also is phasing out the party business during the next 15 to 20 months and expects to cut 125 to 150 positions, most in the Kansas City area, as a result. Read more.
Midwestern grocery chain Schnucks has opened its first Infusion Solutions facility at a St. Louis store to treat acute and chronic conditions. Infusion therapy involves injecting medicine through a needle or catheter, which can take up to eight hours. It is used for conditions such as infectious diseases, nutrition disorders, immune deficiencies, hemophilia, multiple sclerosis, rheumatoid arthritis, cancer, Crohn’s disease and more. Read more.