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Kansas City Business Journal
Olathe life sciences company adds Australia to its global footprint
Two years after KCAS Bio broke into the global market, the local life sciences company is further expanding its international operations. <\p> The Olathe life sciences contract research company is working with Crux Biolabs in Melbourne, Australia. The partnership will extend KCAS Bio's operations into Australia, giving the two companies’ clients access to a larger geographical reach when conducting clinical trials and attracting new customers. <\p>
KC-area business owner gets prison for failure to pay income taxes
A Platte Woods business owner was sentenced in federal court on Tuesday for failing to pay more than $600,000 in federal income taxes over several years.<\p> Daniel Alan Ryan, 63, was sentenced to one year in federal prison without parole, according to a release. Ryan owns Ryan Roofing Systems Inc. and Ryan Construction Systems Inc.<\p>
Boutique KC law firm expands OP, Denver offices
Overland Park-based Erise IP, a boutique intellectual property law firm, is expanding its offices in both Overland Park and Denver. <\p> Erise signed a new lease at 7015 College Blvd. in Overland Park, taking over the top floor of the building. With the expansion, it will grow from 17,500 square feet to just over 24,200 square feet. <\p>
Chiefs unveil full 2024 schedule
The Kansas City Chiefs are striving to be the first team in NFL history to win three consecutive Super Bowls, and the path to the playoffs and ultimately New Orleans for Super Bowl 59 was fully revealed Wednesday night.<\p> On Wednesday, Netflix announced it is streaming two games on Christmas, including the Chiefs' trip to Pittsburgh to play the Steelers.<\p>
India picks KC-area fintech to create a national platform
Leawood-based C2FO will see its already fast growth in India get supercharged after the government made the fintech an official working capital platform for small to midsize businesses.<\p> C2FO is the only U.S. based fintech to join the Indian Trade Receivables Discounting System (TReDS). The platform allows small businesses to submit unpaid invoices and have them auctioned off to registered financiers on the platform, who put forward tenders at a small discount in return for swift payment. C2FO’s platform makes the process easy, also allowing corporate buyers to participate in the auction, directly negotiating with sellers on an early payment discount. <\p>
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Are you ready to shout from the rooftops about your company's growth?<\p> The Kansas City Business Journal is ready to tout your success in our annual Fastest-Growing Companies List, which is our local equivalent to the Inc. 5000.<\p>
National player muscles into KC sports architecture
One of the largest architecture firms in the world will soon establish its first Kansas City office. <\p> California architecture and design firm Gensler plans to move into a new office space at 1532 Grand Blvd. by the end of June. <\p>
Crossroads apartments go into receivership after owner walks
The City Club Apartments in the Crossroads Arts District has been put under a limited receivership after its previous owner indicated that it would abandon the luxury complex amid reported defaults on different financial obligations. <\p> The 283-unit community opened in 2020 at 1989 Main St., along the streetcar route, with what developer City Club Apartments LLC said was a goal to transform the luxury urban apartment industry by "combining the service and amenities of the very best five-star hotel with luxury urban apartment living." <\p>
Developer revises plans for south OP shopping center
Plans are being adjusted for a mixed-use project along a prime development corridor in south Overland Park. <\p> Pflumm 175th Investors LLC submitted revised plans for the Wolf Creek Plaza shopping center at the southwest corner of 175th Street and Pflumm Road. The changes won preliminary approval from city planners on Monday.<\p>
Elevated interest rates force re-pricing of billions in CRE debt
Just shy of $20 billion in commercial mortgage-backed securities debt backing U.S. office properties is set to mature in the next year, occurring at a time that's now also expected to feature a higher-for-longer interest-rate environment. <\p> Moody's Analytics Inc. found that as of April, $19.9 billion in office CMBS loans will mature by next spring. That's a marked increase over the $8.75 billion in office CMBS debt that matured in 2023. <\p>
Bank gets new leader for region covering KC
Arvest Bank promoted Rodney Shepard to be its new regional executive for Kansas, Missouri and Oklahoma.<\p> Shepard will oversee all banking operations in the region, which includes the Kansas City market. He succeeds 50-year banking veteran Brad Kieger, who retired after 28 years at Arkansas-based Arvest Bank.<\p>
Developer proposes new apartments in Bonner Springs
A new tax incentive district could support new apartments for moderate-income residents in Bonner Springs. <\p> The Bonner Springs City Council on Monday scheduled a June 17 public hearing on a proposal to create The 120 on Oak Apartments Reinvestment Housing Incentive District. An RHID allows a city to collect property tax gains created by a new development for up to 25 years and use that money to reimburse the developer for infrastructure improvements. <\p>
Beloved Canadian chain targets KC market
A taste of Canada apparently is coming to the Kansas City area, as Tim Hortons says it’s eyeing a location in Blue Springs.<\p> Canada’s largest fast-food chain told FOX4 it’s looking to open a store at 1128 NW Woods Chapel Road. The address, just south of Interstate 70 at the Woods Chapel exit, currently is the site of a closed Burger King.<\p>
Key Overland Park investor adopts a new 'all in' strategy
When Flyover Capital landed on the venture capital scene in 2014, it was a much-needed resource for the “flyover region,” including Kansas City. Since then, it has invested in 29 early-stage, high-growth tech companies. In 2021, it started investing in other venture capital firms, and eight VC firms now are part of the portfolio. Flyover closed its second fund in 2021, with $60.7 million in commitments.<\p> That growth spurred Flyover Capital’s leadership team to think about the next iteration of the Overland Park firm, leading to a new strategy and a newly created leadership role: head of platform.<\p>
The coveted perk that could be critical for workforce development
As the focus shifts from recruitment to retention in a still-tight hiring market, many employers are searching for the incentives that will retain workers. <\p> While perks like four-day workweeks, unlimited vacation and remote work are often in the spotlight, another coveted perk is career development and upskilling opportunities. <\p>
Global health care player acquires Olathe company it invested in
An Olathe medical devices company was acquired by one of its previous investors, global health care company Cardinal Health Inc. <\p> Innara Health was acquired by Cardinal Health (NYSE: CAH), though the move was not publicly announced by either company at the time of the acquisition. <\p>
NorthPoint lawsuit: Illinois competitor tries to create a monopoly
NorthPoint Development spent hundreds of millions of dollars building a giant warehouse complex in Joliet, Illinois, but the Kansas City-based developer claims a competitor's scheme aims to block heavy truck access to the development.<\p> In a federal lawsuit filed May 9 in Illinois, NorthPoint wants the court to declare the competitor, CenterPoint Properties Trust, a monopoly under the Sherman Anti-Trust Act. <\p>
Deadline nears for 2024 Best Places to Work nominations
The nomination deadline is nearing for the 2024 Best Places to Work awards program, which honors Kansas City-area companies based on aspects such as feeling valued, work engagement and team/manager effectiveness. <\p> The deadline to nominate your company is Friday, May 31.<\p>
Family-owned Thai restaurant will expand to Northland
A longtime Thai restaurant in Mission will expand into Kansas City with a new location in a growing Northland development.<\p> Thai Orchid, a second-generation family-owned restaurant in the Mission West Shopping Center, will open a second location in the Metro North Crossing project northeast of U.S. Highway 169 and Barry Road. <\p>
Starlight lifts curtain on new food options
Starlight Theatre is making a few changes to its food selections, and it picked a new food vendor as part of the process. <\p> Chicago-based Levy is Starlight's new hospitality provider. Changes starting this season include new offerings at concession stands, better food and beverage presentations, new dining stations in Starlight’s Applause Club — the theater's sit-down restaurant — and themed drinks related to the season's performances. <\p>
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