What I’m Watching: Housing, data centers, small business and the Fed’s regional read

September 11, 2026

I’m in Kansas City this week for Missouri’s Governor’s Conference on Economic Development. Yesterday, Gov. Mike Kehoe was joined by cabinet leaders responsible for economic development, labor, natural resources, transportation, higher education and workforce, among others. That breadth is a useful reminder: economic development isn’t one silo among many. Jobs, investment and growth help create the capacity to address nearly every other state priority — and shape opportunity in every Missouri community.

The conference makes that case year after year.

Here’s what I’m watching...

Springfield’s housing conversation turns toward practical approaches

Housing affordability and availability have been a recurring theme here recently, and next week the conversation takes another step. Restore SGF’s Sept. 17 Housing Summit will bring together research from the Federal Reserve Bank of St. Louis, experience from Chattanooga, Springfield’s housing strategy and a local panel representing real estate, home building and the business community.

Why it matters: We’ve spent considerable time understanding the problem. The next challenge is evaluating practical approaches that can expand housing choices and supply while recognizing there is no single silver-bullet solution. I’m particularly interested in what we can learn from other communities — and how those lessons might fit Springfield rather than simply be copied here. That same shift toward solutions is one reason we’re also looking forward to our upcoming Community Leadership Visit to Indy, where we’ll learn more about approaches they are finding effective.

Source: Restore SGF Housing Summit, Sept. 17 — Read more

The data-center discussion is getting more concrete

Springfield’s data-center conversation is moving from general questions to some of the practical mechanics. City Utilities has created a process for evaluating customers requiring 5 megawatts or more and is working on a special rate structure intended to ensure that the incremental infrastructure costs created by very large computational users are assigned appropriately.

At the same time, new SLU/YouGov polling found 68% of Missouri likely voters oppose a data center in their own community, compared with 17% who support one.

Why it matters: These are exactly the details that have to be worked through carefully: capacity, infrastructure, cost responsibility and community benefit. The polling is also a reminder that good technical answers alone won’t be enough. Transparency and trust will matter as Springfield determines what makes sense for our community.

Source: KSMU, Sept. 9 — Read more; SLU/YouGov Poll, Sept. 10 — Read more

Small-business optimism is holding up, but the operating environment remains difficult

NFIB’s latest Small Business Optimism Index slipped to 98.7 in August but remains slightly above its long-term average. Underneath that headline, though, there are real pressures: 35% of owners reported jobs they couldn’t fill, and among businesses actively trying to hire, 82% said they were finding few or no qualified applicants. Inflation also rose as a top business concern.

Why it matters: About 85% of Springfield Area Chamber members are small businesses. That makes these more than interesting national statistics to us. Smaller employers often feel hiring challenges, higher input costs and softer sales more quickly because they have less room to absorb them. We watch the major employers and big economic indicators closely, but the health of small business is also central to the health of our regional economy.

Source: NFIB, Sept. 8 — Read more

The Fed’s regional read reflects what businesses are telling it

The Federal Reserve’s latest Beige Book says economic activity in the St. Louis Fed’s Eighth District has increased modestly. Employment was essentially unchanged, wage growth remained moderate and prices rose at a relatively strong and widespread pace. Businesses also continued to report uncertainty, supply-chain disruptions and elevated fuel costs.

There’s another reason I pay attention to this report. The Chamber stays in regular contact with the St. Louis Fed. Charles Gascon joined us for last month’s SBDC Economic Outlook, and before that event we convened area business owners and leaders for a roundtable with Fed officials to provide an on-the-ground view of what they’re experiencing.

Why it matters: The Beige Book is built in part from qualitative information the Fed gathers directly from businesses and other organizations across its districts. Our role is to help make sure the experiences and perspectives of Springfield-area businesses are part of that information flow. It’s valuable for our businesses to hear the Fed’s broader assessment — and equally important for the Fed to hear what is happening here.

Source: Federal Reserve Beige Book, Sept. 2 — Read more; Springfield Area Chamber SBDC Economic Outlook — Read more