Innovation, visionary leadership reshape region’s economic landscape

We’re living during an interesting period of time. There’s certainly no shortage of challenges, whether it’s workforce recruiting, inflation, or a myriad of other issues.

But it’s also a fascinating time. The pace of innovation is increasing exponentially. Artificial intelligence, for example, continues to impact industries from health care to media to banking and retail, just to name a few.

For this edition of B Magazine, I interviewed banker Adrian Breen who is the chairman of the Missouri Bankers Association. Breen said earlier in his career it took 10 years for things to change. Not anymore. He noted it’s hard to predict what banking will look like in the next two years, let alone 10 years.

There’s plenty of good business news locally. In this Progress Edition of B Magazine, we highlight some of the exciting things happening in Southeast Missouri.

Cape Girardeau and Jackson have experienced a notable surge in business development over the last year. This has not only revitalized existing structures but also introduced new facilities that promise to enhance community life and economic stability.

West Park Mall is undergoing a significant transformation. Local development group River City Centre LLC purchased the mall three years ago, and efforts are underway that will transform the 43-year-old structure and bring in new businesses. The project received a boost from TIF (tax increment financing) from the City of Cape Girardeau as well as Community Improvement District and Transportation Development District designations within the property borders. Phase one, as business reporter Christopher Borro writes in this edition, will renovate 130,000 square feet and bring in six new national tenants.

In Jackson, there was excitement about the new Aldi store that opened in December at 2502 E. Jackson Blvd. It’s the first time for the German-based grocery chain to open a store in Jackson.

In Scott City, near the Cape Girardeau Regional Airport, Camping World is now open for business. The building had been vacant for a year after construction finished, so it’s good to see the facility open for business.

The Broadway Theatre, which experienced significant fire damage in 2021 and was vacant for more than 25 years, is currently under renovation thanks to developer Brennon Todt. The building was set for demolition until Todt appealed to the city to keep the historic structure and allow him to develop it for a mixed-use retail space. Renovations continue, and signage on Broadway, a nod to its former use, is generating excitement.

The Broadway Theatre is not the only former downtown theatre that’s being renovated. There’s activity at the former Esquire Theatre, which has been vacant for years. Ben Traxel of Tenmile Holdings LLC is developing the property for office and retail space.

LifeHouse Crisis Maternity Home, a project by Catholic Charities of Southern Missouri, is opening in downtown Cape Girardeau this spring to offer services that address the health and social needs of women and their babies. The facility is modeled on the LifeHouse in Springfield, Missouri. It offers a residential space for homeless women, helping them with education and work needs as they get a fresh start with their children. About $9 million has been raised for the project.

In an innovative repurposing of industrial space, the former Thorngate factory is being transformed into a facility housing climate-controlled pickleball courts and a vehicle park storage area. This development not only recycles an old industrial site but also provides new recreational and storage solutions for the community.

The Riverview by Century Casinos is now open in downtown Cape Girardeau. With views overlooking the Mississippi River, the hotel connects to the casino and its event center while keeping guests in the downtown area. The hotel includes 69 rooms. It opened just in time for the Southeast Missouri State University sesquicentennial ball and total solar eclipse, both of which brought many visitors to town.

These are just a few of the big developments currently in progress or just completed. You can read more about some of the other areas of progress in this edition, plus what many other businesses and organizations have done over the last year. We also have a look at the past year celebrating Southeast Missouri State University’s sesquicentennial anniversary.

The ongoing projects and developments are not only enhancing the quality of life for residents but are also laying a strong foundation for sustained economic growth. Here’s to the visionaries and innovators driving progress in Southeast Missouri.

Lucas Presson is the publisher of B Magazine and assistant publisher and general manager of the Southeast Missourian.