STRICTLY BUSINESS: AN OVERALL HEALTHY CAPE GIRARDEAU BUSINESS SCENE

The books have closed on 1995, an overall healthy year on the Cape Girardeau business scene and one with a number of noteworthy business milestones.

Construction in Cape Girardeau topped the $43 million mark, ranking the year as the second best in the city's history. Employment increased throughout Cape Girardeau County. In January of 1995, 32,611 workers were employed. That total grew to 33,300 by November, with a 2.5 percent unemployment rate, lowest ever here.

Many new businesses opened and many closed during 1995. Permits were issued for 150 new retail operations, and 144 ceased operations. Over the past three years a total of 474 new retail businesses opened, almost keeping pace with the 489 closings during the same period.

Elsewhere, some of the top happenings on the business scene in Cape Girardeau have included the changing of hands of two Cape Girardeau banking facilities, the opening of one giant retailer here and the announcement that another will come in 1996; the expansion and 50th anniversary of a downtown furniture store; the closure of a big manufacturing facility here; the addition of one grocery market and the disappearance of another.

`No news' makes the news

"No news" made the news in the case of Boyd Gaming Corp.

Although Boyd officials were in Cape Girardeau in early January 1995 to start contract development talks with city officials for a $51.1 million riverboat gambling casino in the downtown area, nothing has developed.

Boyd officials are expected to discuss a contract with city officials again this month.

In explanation, much has happened on the gambling scene in Missouri during the past year, including the announcement by the Missouri Gaming Commission last May that no new applications will be processed before late 1996.

Boyd officials insist their commitment to Cape Girardeau has not wavered.

From Capital to Planters

Capital Bank is now Union Planters Bank.

The merger process, which included approval by stockholders of both companies and various banking entities, was completed late in 1995.

Union Planters Corp., headquartered in Memphis, Tenn., now serves customers through 40 banking affiliates with more than 400 offices in seven states -- Missouri, Arkansas, Alabama, Kentucky, Louisiana, Mississippi and Tennessee -- with assets totaling approximately $11 billion.

Capital Bancorporation of Cape Girardeau previously operated 35 facilities through five subsidiary banks in Southeast, Central and Eastern Missouri and Northern Arkansas.

In another bank merger involving Cape Girardeau banking operations, Mercantile Bancorporation Inc., acquired AmeriFirst Bank, headquartered at Sikeston. The changover occurred in late 1995.

Mercantile Bancorporation owns 52 institutions in Missouri, Eastern Kansas, Southern Illinois, Northern Iowa and Arkansas, including Cape Girardeau and Sikeston.

AmeriFirst Bank, formerly the Bank of Sikeston, was founded more than a century ago and had banks at Cape Girardeau and Sikeston.

Major construction projects

Two $4 million-plus projects were among construction permits issued last year.

St. Francis Medical Center is building a parking garage, and the Lutheran Home is continuing to build its Sarcony Manor apartment complex.

Both were issued building permits of more than $4 million -- $4.6 million for the Lutheran Home and $4,270,200 for the parking garage.

Other million-dollar projects included a $2.7-million contract for a new entrance and lobby at Southeast Missouri Hospital, a $1.3-million warehouse for River Eagle Distributing; a $1.5-million expansion for the Heritage Manor housing complex; and $1 million for a new Academy of Scuba Training center.

New on the retail scene

Target Stores, the discount retail division of Dayton Hudson Corp., opened in Cape West Business park alongside Interstate 55.

A second giant retailer, K's Merchandiser, purchased the 85,000-square-foot building which previously housed Central Hardware and will open later this year.

Two giant booksellers are competing for space on readers' bookshelves. Hastings Books, Music & Video operates in 22,000 square feet in the Town Plaza Shopping Center, and Barnes & Noble Inc., opened a 22,000-square-foot book store on the perimeter of West Park Mall at 3035 William.

A third giant retailer announced in early 1995 that no plans were on the board for Cape Girardeau. Sam's Club, which had previously announced plans for construction of a 134,000-square-foot store adjacent to Wal-Mart Supercenter in Cape West Business Park, put the project on hold.

Manufacturing scene changes

A large manufacturing change on the business scene was reported in early 1995, when Mildenberger & Willing Packaging U.S. Inc., acquired Saueressig U.S., the company which provides engraved cylinders for the M&W rotogravure presses.

Saueressig U.S. became a wholly owned subsidiary of M&W Packaging U.S. Inc. Saueressig's engraving equipment is inside the M&W production complex along Highway 77 north of Cape Girardeau.

M&W is a subsidiary of M&W Verpackungen, Gronau, Germany, and Nordenia International AG, Munster, Germany.

With the good comes the bad. Many workers were stunned when Tri-Con Industries, number 16 on a Southeast Missouri "Top 60" list in 1995, announced that it was leaving Cape Girardeau. It will be re-located in northern Mexico, leaving behind 172 workers without jobs.

And on the grocery scene

Schnuck's Food & Drug added a new location here in 1995.

In January 1995, Schnucks announced that it had agreed to purchase 60 National Super Stores from Loblaw Companies Ltd., a Toronto company.

Among the stores Schnucks eventually purchased were 53 in the St. Louis metropolitan area, plus stores in Cape Girardeau, Rolla, Hannibal, Carbondale, Ill., Springfield, Ill., and Litchfield, Ill.

Schnucks opened its second store in Cape Girardeau when the purchase was completed, at the site of the National Del Farm store at the intersection of William and Sprigg. During the year, Schnucks completed a remodeling of its store at 19 S. Kingshighway.

New look for shopping strip

The Town Plaza Shopping Center got a new look in 1995 -- new businesses, new lighting, an improved parking lot and an uppdated facade for the entire shopping strip.

Greater Missouri Builders Inc., headquartered in St. Louis and, owners of the center, said the shopping center is refurbished about every three to five years. It last received a facelift in 1992.

The F.W. Woolworth building, vacated in 1994 with the closing of a number of Woolworth operations nationwide, was filled with three businesses.

The center now houses about 20 businesses.

And in the downtown area

Downtown Cape Girardeau was a busy place in 1995, with a number of renovations, expansions, new businesses and a new river wall mural.

Hutson's Furniture Co. added 10,000 square feet and completely remodeled its main store during the company's 50th anniversary year.

Coming next week:

We asked your what would make Cape Girardeau's retail environment even more appealing. A number of readers have offered suggestions about the kinds of new business they'd most like to see in Cape Girardeau. Look for the list in next week's column -- and if you haven't had an opportunity to share your thoughts, it's not too late to do so. Drop me a note at the Southeast Missourian, 301 Broadway, Cape Girardeau, Mo. 63701 or call 335-6611, Ext. 133.