Business Notebook: Missouri releases demographics of unemployed; state agency offering assistance to meat processors

The Missouri Department of Labor & Industrial Relations has published a set of unemployment demographics that breaks down the state's unemployed population by age, race, gender and various industries where the most unemployment has occurred during the COVID-19 pandemic.

Data released last week provided a snapshot of Missouri unemployment in May.

Among the findings:

• Most unemployed Missourians, 54.7%, are female while males make up 45.3%.
• More than three-quarters (76.4%) of jobless Missourians in May were classified as white and 19.9% were listed as Black or African American. The remainder was comprised by Asians, American Indians, native Alaskans, native Hawaiians or other races.
• Among the state's unemployed adults, 6.1% were younger than 22; 8.3% were age 22 to 24; 26.1% were 25 to 34; 20.3% were in the 35 to 44 range; 16.9% were 45 to 54; 8.4% were in the 55 to 59 age range; 6.9% were 60 to 64; and 6.7% were age 65 or older.

In terms of occupations, food preparation and restaurant workers were the largest single group of unemployed workers, numbering nearly 45,000, followed by more than 31,000 office and administrative support workers and nearly 25,000 Missourians who had been working in sales and related occupations.

Funding available for rural meat processing

JEFFERSON CITY, Mo. -- The Missouri Agricultural and Small Business Development Authority (MASBDA) is accepting applications for two programs aimed at rural small-business improvement, specifically meat processors, across the state.

"At a time when Missouri's economy is recovering from COVID-19, our board members and staff are proud to offer programs that help the Missouri families running these small businesses," said MASBDA executive director Jill Wood. "Our meat processors are critical to our farmers, ranchers and small communities. It's vital that we have facilities to process Missouri's agricultural goods."

Agricultural businesses in communities with populations of under 50,000 may be eligible for funding through the Missouri Agribusiness Revolving Loan Fund, which can be used to start, acquire, operate or expand an agribusiness, according to a news release last week from MASBDA. Loans through the fund are currently available at a fix interest rate of 4%.

The Meat Processing Facility Investment Tax Credit Program is also available to qualifying meat processors interested in modernizing or expanding their facilities. The program is designed to stimulate investment in Missouri's meat-processing industry and can provide tax credits covering up to 25% of modernization or expansion costs, with a maximum of $75,000 annually.

More details about both programs, along with application forms, may be found on MASBDA's website.

People on the Move

Brittney Lee

Brittney Lee and Heather Dameron have been promoted to senior vice president positions at First Missouri State Bank in Cape Girardeau. The announcement was made Thursday in a news release from the bank.

Heather Dameron

Lee has been a member of the First Missouri State Bank team since the bank opened in 2002, starting as a personal banker. She has also served as the bank's sales and marketing manager and became the organization's chief financial officer in 2016.

She graduated from Southeast Missouri State University in 2002 and the Paul W. Barret Jr. Graduate School of Banking in 2012 and is pursuing a master's degree in business administration.

Lee is treasurer of the Rotary Club of Cape Girardeau and has served on the Cape Girardeau Area Chamber of Commerce Board of Directors, the Friends of Saint Francis board and the board of the Arts Council of Southeast Missouri.

Dameron joined First Missouri State Bank in 2003 as a mortgage loan processor. In the years since, she became a commercial credit analyst, mortgage underwriter and credit officer. In 2015, she was promoted to the position of chief credit officer.

She graduated from Southeast Missouri State University in 1998, the Barret School of Banking's Commercial Lending Academy in 2009 and the Graduate Banking School in Boulder, Colorado, in 2017.

Chamber Notes

The Cape Girardeau Area Chamber of Commerce's First Friday Coffee in July will take place on the second Friday of the month so it doesn't conflict with the Fourth of July observance this weekend. The July First Friday Coffee will take place at 7:30 a.m. July 10 on the chamber's Facebook page. The program will be a legislative update.

Commercial building permits

A building permit was issued earlier this month for the $12 million Cape Girardeau City Hall project at 44 N. Lorimier St., former home of the Cape Girardeau Common Pleas Courthouse and Carnegie Library, which served for many years as the courthouse annex building. The building permit, issued to Penzel Construction Co., includes remodeling of both the courthouse and annex buildings, construction of a two-story addition between the buildings and a parking garage.

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A commercial building permit was issued last week for the construction of a new Catholic Campus Ministry chapel at 512 N. Pacific St. on the Southeast Missouri State University campus. Columbia Construction Corp. of Cape Girardeau is listed as general contractor for the $4.7 million project. Phillip B. Smith of Cape Girardeau is the project architect.

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A commercial building permit was recently issued for interior remodeling project at Regional Finance, 3047 William St., Suite 104, in Cape Girardeau. The building is owned by CLD Family Trust in St. Louis. Phillip B. Smith of Cape Girardeau is the project's architect and Central Missouri Facility Maintenance of Columbia, Missouri, is listed as the contractor for the project, which has an estimated cost of $75,556, according to the permit.

Business license applications

Julie Fisher of Cape Girardeau submitted a business license application last week to operate UNI Custom Creations LLC, 2907 Independence St., Suite E, in Cape Girardeau. The business, which will deal in gift and promotional items as well decor merchandise and custom laser engraving, is expected to open this week, according to the application.

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A business license application was filed last week by Riley Gockel of Cape Girardeau for a new apparel resale outlet called Prospect, 208 Independence St. in Cape Girardeau. According to the application, the business will open Friday.

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Chelsey Becker of Cape Girardeau submitted a business license application last week to open Aurora Medical Spa River City at 3117 Lexington Ave., Suite 103, in Cape Girardeau. The business will offer noninvasive skin treatments, injectables, facials and peels and is scheduled to open in early August, according to the application.

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