Springfield Business Journal_2021-03-15

SPRINGFIELD BUSINESS JOURNAL · 1 BUSINESS SPOTLIGHT A family-run Ozark manufacturer plans to rebound from the challenges in 2020. PAGE 6 Architects and Engineers starting on page 9 $2.00 · SBJ.NET MARCH 15-21, 2021 · VOL. 41, NO. 34 40 YEARS • YOUR BUSINESS AUTHORITY Missouri State adjusts tuition to meet online class demand Higher education leaders say the move is a sign of the times by Mike Cullinan · mcullinan@sbj.net As local colleges pivoted in 2020 to more online instruction amid the coronavirus pandemic, several have made tuition ad- justments to reflect the modern teaching model. The Missouri State University Board of Governors last month approved a blended tuition rate that will apply to all in-state, under- graduate students regardless if classes are seated or online. The $257 per credit hour goes into effect this fall. MSU’s current tuition structure is $228 for seated classes and $299 for online classes. MSU President Clif Smart said the decision was a direct response to the pandemic. University officials began talking with the board about the con- cept last summer – a conversation that eventually included student advisory groups. Most students were not in favor of a tuition model that charges more for online courses, he said. Clif Smart: The new blended tuition model is “not a cash grab” for MSU. by Mike Cullinan · mcullinan@sbj.net SRC Holdings Corp. is planning $75 million-$100 million worth of developments through its new 10-year plan, ac- cording to company officials. The Springfield-based group of remanufacturing busi- nesses intends to expand existing Queen City properties to the tune of 1.1 million square feet over the next decade, said Dick Moger, SRC ex- ecutive vice president. The company currently has over 2 million square feet across nine prop- erties in Springfield. Officials said the expansion plans, by 2025, would create more than 900 jobs, some of which would be at SRC facilities in Kentucky and Illinois. SRC General Counsel Dennis Sheppard said “at least” 600 of the positions will be in Springfield. “We’re working on the factories of the fu- ture,” SRC CEO Jack Stack said in an exclusive interview with Springfield Business Journal. “And we’re working for the people of the future.” Krisi Schell, executive vice president of human resourc- es, recently told SBJ that SRC estimated a need to add about 100 employees over the next 30 to 60 days. She said the company employs roughly 1,700 people across its 10 subsidiaries. Growth commitment Sheppard said the 10-year plan, which incorporates five of the company’s facilities, paints a picture for prospective employees that SRC is committed to long-term investment. “It’s not going to be confined to the one ball we have up in the air right now,” he said. “It’s going to be a growing, changing, dynamic en- terprise.” Ryan Mooney, vice president of economic de- velopment for the Springfield Area Chamber of Commerce, said the plan shows SRC is serious about growing locally. “By the time this is all said and done, they’ll occupy about one-tenth of our industrial base, whi h is fantastic to have a growi g home- grown company like that,” he said of SRC’s plans to expand its footprint to around 3 million square feet in Springfield. Decade of Developments SRC Holdings plans up to $100M in projects over 10 years through new realty venture HEATHER MOSLEY Dick Moger, left, and Dennis Sheppard of the newly formed SRC Realty say the company plans to build 70,000 square feet for office, retail and restaurant use on East Sunshine Street. See SRC on page 40 Ryan Mooney : Development plan shows SRC’s confidence in Springfield’s future. See TUITION on page 8