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Spanning the Region

Monday, April 1, 2013

St. Louis Fed Announces Center for Household Financial Stability

The Federal Reserve Bank of St. Louis is pleased to announce the creation of the Center for Household Financial Stability. Headed by the St. Louis Fed's Ray Boshara, the Center will focus on rebuilding the household balance sheets of struggling American families. The HFS team will conduct and publish research on key balance-sheet issues, organize research conferences and symposia, establish a web-based research clearinghouse, develop a Household Balance Sheet Index, and organize forums to better understand the balance-sheet issues affecting struggling families and communities. For more information on the Center, please visit its web site.

Three Eighth District Cities Named in "Top 30 Best Cities for Young Entrepreneurs"

Under30CEO, a web site for young entrepreneurs with the goal of "inspiring the world's next generation of business leaders," has ranked three cities in the Fed's Eighth District in its 2013 list of the "Top 30 Best Cities for Young Entrepreneurs."

Thirty U.S. cities were selected for the list, then readers voted on the best location for opening a new company based on resources, culture, atmosphere and overall appeal to young entrepreneurs.

In the "Large" cities category (population = 500,000+), Louisville, Ky., was ranked third. The city is home to five colleges, which support a huge college sports scene. Also noted was the city's leading role in the shipping and cargo industry – it is within one day's road travel to 60 percent of the cities in the continental U.S. In 2011, Louisville outperformed the nation in being home to fast-growth companies, and was among the top states in the nation in terms of new start-up companies formed, according to the Kauffman Foundation.

In the "Medium" category (population = 250,000 – 500,000), St. Louis came in fifth. The city has been ranked sixth in the nation by the Kauffman Foundation for the rate at which residents launch businesses, and is home to nine Fortune 500 companies.

Finally, in the "Small" cities list (population = 100,000 – 250,000), Columbia, Mo., ranked second. The city "is a great place to live," with a high quality of life for all, a low cost of living, an excellent education system (including three universities/colleges), great health care and local resources for entrepreneurs.

To see the full list of rankings, go to Under30CEO.