Business briefs

Mississippi Lime hosts century-mark anniversary event for local community

STE. GENEVIEVE, Mo. -- Mississippi Lime Co. of Ste. Genevieve observed its 50th anniversary recently with a city-wide celebration in the city park. MLCO had its origins as the Mississippi Sand Company in Alton, Ill. Harry B. Mathews, Jr. founded Mississippi Lime in 1907.

By 1912 MLCO had grown into both an aggregates and lime business. To expand its lime base, the company purchased its first property in Ste. Genevieve County in the 1920s, opening a limestone quarry and building four vertical kilns. By the end of the decade, seven more vertical kilns were built.

During the 1930s and 1940s the firm expanded further by acquiring Western Lime Company and the Peerless & Ste. Genevieve Lime Company. MLCO also began expanding its own operation by constructing rotary kilns. The 1950s saw further growth, with new rotary kilns completed.

There was continuous growth in capacity and expansion of the lime-based product line in succeeding decades. In 1998, MLCO commissioned a new gas-fired kiln at the Ste. Genevieve site.

The company expanded its holdings in 2001 with the purchase of Ashgrove Cement of Springfield, and in 2003, when it bought substantially all of the assets of Falco Lime, Inc. located in Vicksburg, Miss.

New corporate headquarters were created in 2005, relocating the firm’s headquarters from Alton, Ill. to St. Louis County. Construction of another high-tech gas-fired kiln began that same year.

Today the company bills itself as “the most diversified producer of lime-based products in North America.†Production facilities in Ste. Genevieve, and Vicksburg, Miss. provide products that serve customers coast-to-coast and internationally in a wide variety of markets ranging from agriculture to food additive chemicals.

Online company formed

Jimmy L. Gockel opened an online consulting firm to help people filing for Social Security disability benefits. Called JLG Claims Service LLC, the company was formed after Gockel, who is disabled, was contacted by people seeking assistance with their disability claims. Gockel, an U.S. Air Force retiree and former employee of Southeast Missouri Hospital, said in a news release that he hopes to pass on information gained while he was pursuing a disability claim of his own. The Web site for the new service is www.jlgclaimservice.com

Auto dealer honored

Coad Toyota, 357 Siemers Drive in Cape Girardeau, won the Toyota President’s Award for excellence in all aspects of dealer operations, an honor that was announced in a full-page ad in the Sept. 3 issue of Time magazine.

In the ad, the company praises the Coad family -- operators of auto dealerships since the late Joseph Coad opened his first car lot in 1964 -- for the way they have run the business since taking over the local Toyota franchise 18 months ago.

They have moved the franchise from the bottom 10 percent of Toyota dealerships to the top 10 percent, the ad reports.

To win the award, general manager Shane Morris said, the company had to maintain a Customer Satisfaction Index of 97.8 percent and keep that satisfaction rating high for a year.

The Coad family has General Motors franchises to sell Chevrolets, Pontiacs, Buicks and Cadillacs as well as Toyotas.

Agreement reached at Noranda

NEW MADRID, Mo. -- Noranda employees will see improved wages and retirement benefits as a result of a new labor agreement.

Noranda Aluminum Holding Corporation, which owns Noranda Aluminum Inc., announced the new five-year agreement between the company and the United Steelworkers Local 7686.

This is the third consecutive five-year agreement, which provides for wage increases each year as well as improvements in pension and other benefit plans.

As with any other contract, this one included some compromise.

“Wages, pensions and insurance were the three big issues,†said Ronny M. Marks, president of the local union. “We made gains in two of the three.â€

A hit was taken on the issue of insurance. “We’re paying a lot more premium and getting a little less coverage,†Marks said. “But this was nationwide -- it was nothing that we weren’t expecting.â€

There were 453 yes votes and 308 voted against the measure. The 761 voters made up a record turnout, Marks commented.

Noranda Aluminum Holding Corporation is a leading integrated producer of value-added primary aluminum products, as well as high quality rolled aluminum coils. The New Madrid facility is a 254,000 metric ton primary aluminum smelter. It is one of the largest foil producers in North American and a major producer of light gauge sheet products.

Vitronics to benefit from grant

DONIPHAN, Mo. -- Doniphan has been approved for up to $393,500 in an industrial infrastructure grant to relocate a water line and make road infrastructure improvements. The grant will assist the further expansion and development of EBSCO Industries, doing business in Doniphan as Vitronic Promotional Group. EBSCO will invest at least $3.1 million and create 46 new full time jobs for Vitronic within two years.

Cleaning service opens

POPLAR BLUFF, Mo. -- Po-Folks Cleaning has opened, doing carpet cleaning, floor care, window cleaning and contract cleaning for businesses, according to owner Cliff Gilton. Gilton started his business in Springfield in 2005 and recently moved to Poplar Bluff.

Cabinet maker recognized for growth

Jim Schuette’s True 32 Custom Cabinetry and Closetworks was named as one of the 100 fastest-growing woodworking companies, according to a recent edition of Wood & Wood Products magazine. True 32 makes fine European cabinetry at its manufacturing facility at 6796 State Highway 25 using a flow manufacturing system.

It is the second consecutive year for the distinction. For 2007, True 32 was ranked 48th fastest growing, following a No. 3 ranking in 2006.

The company posted a 26 precent increase in sales during 2006. The company changed its name from Schuette Custom Woodworks in 2004, and added the line of European cabinetry to its existing lines of commercial cabinetry, countertops and architectural millwork.

Upstairs Downtown

Old Town Cape director Marla Mills and historic preservation consultant Terri Foley attended a workshop in Alton, Ill., on converting upstairs space in downtown buildings into apartments, condominiums and other usable space.

Called Upstairs Downtown, the conference was hosted by Illinois Main Street, but the lessons learned can be applied to the historic district in downtown Cape Girardeau, Foley said.

“Historic buildings are worth saving,†Foley said. “Every square foot of a historic building that is saved is worth 10 gallons of gas.â€

That figure, she said, takes into account the fuel needed to haul away a building that is demolished, the fuel to bring new building materials in to construct a replacement and the fuel saved by shorter commuting distances to work sites.

Downtown Cape Girardeau has seen several big renovation projects made possible by the application of state and federal tax credits, including the renovation of the Marquette Tower and the Southeast Missourian buildings. Those credits can defer up to 45 percent of the cost of renovating a building on the National Register of Historic Places, Foley said, and can also be used on historic buildings within a historic district.

The Missouri credit is 25 percent, and state law allows those credits to be sold if the person or business that receives them is unable to use them. The federal credit is 20 percent, and new legislation pending in Congress is proposing that it be increased to 40 percent for projects with a price tag of $2 million or less, Foley said. That can defer up to 65 percent of the costs of renovation, Foley said.

There have been two recent Cape Girardeau additions to the National Register, Foley said. The Broadway Middle Commercial Historic District, which includes the 500 block of Broadway and the 100 block of North Middle Street, is a new listing. And the building at 101 N. Main St. was added to the Cape Girardeau Commercial Historic District, which already encompassed North Main Street from Themis Street to Broadway and ran along the south side of Broadway to Spanish Street.

The new designations, as well as the possibility of an increase in the federal credit, could spur additional investment in the area. Mills said she and Foley understand how other towns have used the programs to create living spaces and offices in unused portions of historic structures.

New Madrid creates board to study economic issues

NEW MADRID, Mo. -- A group of business leaders will join city efforts to encourage local economic development efforts.

A Board of Economic Development was created for the city of New Madrid in response to efforts under way by the New Madrid County Mayors’ Association.

Those who accepted appointments were Harriette Hunter Myers, Bank of New Madrid; Harry Gremore, Edward Jones; Harvey Graham, Graham Realty; Monica May, Regions Bank; and Mark Kolwyck, Martindale Chevrolet. Gilbert and Brown will also serve on the board.

The New Madrid County Mayors’ Association has proposed hiring an economic developer to assist efforts to bring jobs to the county.

One of the first actions will be a survey to collect data on why people working in the county live in other counties.

Cell tower going up near Center Junction

There’s going to be an addition to the skyline near Center Junction, Robin Cole of the Rite Group said.

AT&T will operate the 125-foot cellular tower on land owned by Cole southwest of the interchange, he said. Crown Castle International, which specializes in building communication towers and leasing them to service providers, began digging the foundation.

The deal was negotiated by Doug Dolan, owner of Realty Advisors in St. Louis.

The tower is designed to provide better service coverage along the Interstate 55 corridor, and is part of a major AT&T investment program designed to meet the needs of modern phones such as the Apple iPhone and Blackberry phones, said Chelsey Ilten, an AT&T spokeswoman in St. Louis. There are no dead spots for AT&T in the area to be served by the tower, Ilten said, but new technology requires upgraded equipment.

In recent years, AT&T has spent $283 million upgrading its wireless network, including the placement of 40 new towers in 2006 and seven this year, she said.

Business closed in Farmington

FARMINGTON, Mo. -- Black and Owens Restaurant Supply in Farmington has closed due to the death of Herb Schwarz and the poor health of the surviving partner, Richard Owens.

Store for gamers opens

Fantasy gamers who have been missing a place to gather since the closing of Plainswalkers Gamers Guild, take heart. Thunder-gnome, a collaborative effort by Roy Foster, Matt “Squeaky†Carlson and Mike Enos, is open at 716 Broadway.

Company recognized

Workforce Employment Solutions was named one of the fastest-growing small businesses in the United States by Inc. Magazine. Workforce was founded in 1994 and has grown from the original office in Farmington, Mo., to a company with 10 offices in four states, including offices in Cape Girardeau and Perryville, Mo.

First Bank Closing Downtown Facility

STE. GENEVIEVE, Mo. -- First Bank of Ste. Genevieve will shutter the doors of its facility on the corner of Market and Second in Ste. Genevieve at the close of business on Nov. 30, and will consolidate the downtown bank operation with the Parkwood Drive bank.

A letter was sent to customers last week, announcing that the bank will consolidate its two locations, moving operations from the old bank at 198 Market St. to the newer bank building on Parkwood Drive. Previously, the Parkwood Drive facility was considered a branch bank.

Bank officials say all employees of the downtown bank will transfer to the newer facility.

Customer accounts will be transferred automatically at the close of business on Nov. 30, and after that time telephone calls placed to the old bank will be automatically forwarded to the Parkwood Drive facility.

Bank officials say they have not yet decided what will happen to the old bank building at Market and Second.

First Banks Inc. took over ownership of the building when the bank corporation purchased the banking operation from Allegiant Bancorp in 2003.

First Bank is the third owner of the financial institution since the formerly locally-owned bank was purchased by outside interests in 1985.

Banks merge

First State Bancshares Inc. of Farmington, Mo., which operates branch banks -- including two in Cape Girardeau and one in Perryville, Mo. -- under the name First State Community Bank, announced it had acquired Progress Bancshares Inc. of Sullivan, Mo.

The merger makes First State Bancshares the second largest bank headquartered in Southeast Missouri, chief executive officer Greg Allen said. Montgomery Bank is the tops, he said, due in large part to that bank’s entry into the St. Louis market. Allen said his bank will continue to focus on banking in smaller communities. “Cape is the largest market for us,†he said.

Founded in 1954 with a capital of $3 million, First State Bancshares now has assets totaling $900 million, Allen said.

Economy appears to be on verge of a slowdown

SIKESTON -- Sikeston and Scott County had a good second quarter but should be ready for an economic slowdown in coming months along with the rest of the nation.

Bruce Domazlicky, director of the Center for Economic and Business Research at Southeast Missouri State University, discussed the national and local economies as the guest speaker for the Sikeston Area Chamber of Commerce noon luncheon Thursday.

“The economy is slowing down,†Domazlicky said. He said experts expect the national economy slowdown to last six to nine months.

According to the Southeast Missouri Business Indicators, a quarterly report by the Center, second-quarter growth in Gross Domestic Product increased to 3.4 percent with increased governmental spending and business investment leading the way.

The report predicts, however, that economic growth during the second half of this year will slow down to about 2.5 percent due to slowed growth in consumer spending, a slower rise in corporate profits and a “credit crunch.â€

According to the report, the annual average rate of new home construction has fallen by a third to 1.4 million homes from about 2.1 million homes a little over a year ago.

In examining new home construction data for Sikeston, “I looked at it five times and I couldn’t believe the numbers,†Domazlicky said.

Domazlicky said his data showed 40 new homes at an average price of $180,000 were built in 2005. In 2006, the number of new homes went up to 50 but the average price dropped to $70,000.

While 2007 data is not available to show if new home construction has slowed in Sikeston this year, “I suspect it probably has,†Domazlicky said. “It seems this area will follow the national trend.â€

Even so, the report includes an encouraging statement: “It seems unlikely that the region will be affected as much by the housing slowdown as will other parts of the nation ... mainly because southeast Missouri has not experienced the overbuilding that has characterized some markets, which has led to major declines in new construction. Sometimes, slow, but steady growth has its advantages.â€

On the national level, “the labor market still seems to be doing fairly well,†Domazlicky said, and the economic data shows “very encouraging employment data†for this area, as well. “Employment does seem to be growing in the region, in the county,†he said.

Additionally, sales tax figures indicate there was an increase in retail spending here over the second quarter, although Domazlicky said he thinks that data may be skewed somewhat as it was recorded when the state received the tax receipts. Even so, the data indicates that “retail sales are growing,†he said.

Domazlicky said he found it particularly interesting that Sikeston has 800 more people commuting here for work than it has people “out-commuting†to work other places such as Cape Girardeau or Noranda.