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High-tech Bioscience Research Company Opens New Headquarters|
ST. LOUIS, (SLFP.com), November 14, 2013 - Gov. Jay Nixon today joined officials from Cofactor Genomics to celebrate the opening of the company's new $3.8 million headquarters and laboratory facility in the Cortex district, located in the Central West End. As part of this expansion, the company plans to hire 24 new employees, tripling its current employment.
"Missouri's low taxes, highly skilled workforce and targeted investments in growing industries like the biosciences helped our state achieve the third fastest technology job growth in the nation last year," Gov. Nixon said. "Today's announcement of new jobs and new investments by another successful bioscience company is good news for St. Louis and the entire State of Missouri. I'm pleased my administration can support Cofactor Genomics' expansion, as we work together to create jobs and move Missouri's economy forward."
Cofactor Genomics is a Contract Research Organization (CRO) that was founded in St. Louis in 2008 to provide beginning-to-end DNA sequencing, analysis and experimental design solutions to both private and public clients. Using multiple sequencing platforms and in-house bioinformatics, the company provides insightful discoveries to companies in the life sciences, pharmaceutical, agricultural and biofuels industries.
"Missouri provides the right environment and opportunities for a DNA sequencing, analysis and design company to grow," said Jarret Glasscock, Chief Executive Officer of Cofactor Genomics. "As a young company, Missouri's business-friendly climate and diverse resources have played a key role in helping us compete in a global market. We're excited to be located in the Cortex district of St. Louis, a place we perceive as the heart of biotech in the Midwest."
The company has purchased and renovated a 10,000 square-foot space to house its new headquarters, sequencing labs and data analysis offices. The additional space and equipment will allow the company to better serve its growing client base.
"Cofactor Genomics is another example of how today's high-growth industries require a highly skilled workforce in order to succeed," Gov. Nixon said. "That's why we must continue to make strategic investments in our workforce and our education system to ensure that Missourians can continue to compete and win in today's global economy."
Today's announcement by Cofactor Genomics is the second CRO to recently expand in Missouri. Pharma Medica Research, Inc., a Toronto-based company that conducts research and development for pharmaceutical companies, announced plans to rehabilitate a building in St. Charles to expand its drug trials, investing $30.8 million dollars and creating 320 new jobs in the area.
Americans Cautious about Holiday Spending This Year
ST. LOUIS, (SLFP.com), November 14, 2013 - According to a recent survey by financial services firm Edward Jones, some Americans are planning to hold on to their wallets this holiday season. In fact, 37 percent say they plan to spend less on holiday shopping in 2013 than they spent in 2012, contrary to what Edward Jones' retail analyst is anticipating: holiday sales to increase by about 2.8 percent.
"While we expect some sales growth in the retail market this holiday season, those polled expressed a conservative view on holiday spending," said Brian Yarbrough, consumer discretionary analyst for Edward Jones. "This differs from our retail forecasts for the remainder of the year. We anticipate solid numbers from most retailers with luxury players leading the charge."
The survey, conducted during the government shutdown, provides a unique perspective into how the political landscape and other short-term events may impact consumer spending behaviors. More than one-third (37 percent) plan to spend less on holiday shopping in 2013 than they spent in 2012, and another 39 percent say their shopping budget will be the same. Just 18 percent plan to spend more this year.
"Americans have been inundated by negative headlines regarding changes in economic policy, the impact of rising interest rates and disparate political views coming out of Washington," said Yarbrough. "It's clear that these issues have heightened uncertainty and caused individuals to second-guess their saving and spending behaviors. However, it's important to stay the course and take a long-term approach to spending, saving and investing, especially with all of the short-term uncertainty."
Shopping Early to Take Advantage of Promotional Deals
Of Americans planning to buy holiday gifts this year (79 percent), 24 percent have already started to tackle their lists. Less than half (43 percent) plan to conduct their shopping before Thanksgiving, about one-quarter (26 percent) plan to take advantage of Black Friday or Cyber Monday sales, and one-third (32 percent) say they will wait until December to get started. In a bearish admission, 16 percent of those who have traditionally purchased gifts for the holidays say they will not be doing so this year.
Younger Shoppers Most Likely to Spend
Respondents between the ages of 18 and 34 are the most likely to spend more in 2013 than in 2012 (35 percent), while only 12 percent of respondents ages 35 and 44 plan to spend more. Nearly half of respondents 55 and older plan to spend the same as 2012.
Youngest Americans Likely to Spend on Marquee Shopping Days
The survey's youngest respondents, those between the ages of 18 and 34, are far more likely to shop on Black Friday or Cyber Monday, with one-quarter indicating they plan to do so, compared with just 13 percent of Americans ages 55 and older. While 89 percent of respondents ages 18 to 34 plan to conduct holiday shopping this year, only 64 percent of respondents 55 and older plan to do the same.
Larger Households More Likely to Conduct Holiday Shopping
When taking household size into consideration, 91 percent of Americans with three or more individuals in their household plan to shop for the holidays this year, compared with 59 percent of single-person households. The trend continues between the two groups regarding their plans to conduct holiday shopping on Black Friday or Cyber Monday. In households with three or more members, 26 percent say they plan to shop during those particular days, as opposed to just 11 percent of single-person households.
Additionally, almost one-third (29 percent) of single-person households and just 6 percent of households with three or more people do not plan to buy holiday gifts this year but have in the past.
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