Skip to content

Regional Roundup

Saturday, January 1, 2005

New Research Publication Highlights Regional Development

The St. Louis Fed this fall launched a new online research publication called Regional Economic Development. The new journal features local and regional economic development, with particular focus on the Eighth Federal Reserve District.

In its debut issue, the publication releases papers from the Bank's first conference of the Business and Economics Research Group (BERG) and includes discussions of income inequality around the region, the effects of the 2001 economic recession on the Eighth District and economic growth in middle Tennessee.

To read this issue or to receive notice of subsequent issues, go to

Courtney Named Senior VP at the St. Louis Bank

Judith A. Courtney has been named senior vice president by the St. Louis Bank's board of directors. Upon the Jan. 3 effective date, Courtney will lead the Bank's Treasury Relations Division and serve as the product manager for the Treasury Relations and Support Office (TRSO).

She succeeds David Sapenaro, who will become first vice president and COO of the Bank upon LeGrande Rives' retirement in January. Throughout her 39 years at the Fed, Courtney has held a number of management positions, including her most recent as vice president and deputy product manager of the TRSO.

Study Shows Businesses Grow When Government Takes a Back Seat

A new study by the St. Louis Fed finds that less is more when it comes to government intervention into small business.

The study, Passive Policies for Entrepreneurs, asserts that the absence of government intervention creates a better climate for entrepreneurship. In reality, policy-makers and community development leaders often pursue active policies when recruiting businesses, such as targeted tax breaks, subsidies or other incentives. The authors of the report present evidence that passive policies—for example, policies that involve overall reductions in regulations and taxes—lower the general cost of running or starting a business and increase rates of entrepreneurship.

The study is available online at The printed version is available for free by calling Cindy Davis at (314) 444-8761 or toll-free at 1-800-333-0810, ext. 44-8761.

St. Louis Bank Has New Address

Eagle eyes may have noticed a change in the St. Louis Bank's official address recently. That's because the Bank's main lobby expansion project is now complete, making the Bank's old street address of 411 Locust St. literally obsolete.

The remodel project not only creates a redesigned entrance for the public and employees, but enhances security around the Bank's perimeter through its expansion into previous city streets and the addition of a guarded vestibule to the already guarded main lobby. The space outside the entrance, once open to vehicles, is now a pedestrian walkway formally known as Federal Reserve Bank Plaza.

Mail to the St. Louis Bank should now be sent to: Post Office Box 442; St. Louis, MO; 63166.