Missouri

State Profile

Located in the middle of America’s heartland and bordered by eight states, Missouri is distinguished by its geography, its economy and the “can- do” attitude of its workers. Most US agriculture and food production takes place in the Heartland, as does more than half of all US manufacturing.

This is where America builds its cars, trucks and planes, and distributes consumer goods through a comprehensive network of highways, railways, airports and rivers. Missouri’s central location places it within a single day’s drive of 50 per cent of all US households and within a two day drive of most major US markets.

With access to nine major interstates, two airports offering international service, all Class I rail carriers and 14 port authorities, getting from there to here is very economical. Missouri boasts two of the largest rail terminals in the country (St Louis and Kansas City) and is one of the few states offering rail service to both east and west coasts. An extensive highway system, along with recent road and bridge improvements, makes Missouri one of the most logistically friendly states in the nation.

Missouri’s unique geology also offers a cost-saving option for a number of business sectors. Nearly 28 million square feet of underground space in former limestone mines provides secure, climate-controlled sites for data, warehousing and more. Current tenants of the “undergrounds” benefit from constant year-round temperatures and reduced energy costs.

Above or below ground, Missouri companies already enjoy some of the lowest energy costs in the nation (EIA, 2013). And yet, with a voter-approved renewable energy standard in place, the state stands solidly behind advances in alternative energy. Rock Port, a town just north of Kansas City, was the first US city to operate solely on wind energy.

Energy is just one of the industry clusters that defines Missouri’s diverse economy. Others include transportation, financial services, information technology, biosciences, health services and advanced manufacturing. As a Pollina Top 10 Pro-Business State for five years in a row, Missouri is able to effectively compete in all these sectors.

Missouri’s educated labour force also factors into what makes the state a business-friendly location. Over three million strong, Missouri’s workforce is larger than the entire populations of 20 other US states. But it is the quality, not just the size, of Missouri’s workforce that convinces companies to move to – and stay in – the state.

Education also plays a vital role. Missouri’s colleges and universities number 138 and draw over 400,000 students each year from inside and outside the state. World-class institutions like Saint Louis University, Washington University in St Louis (ranked 14th by U.S. News & World Report) and the four campuses of the University of Missouri system are but a few of the institutions that provide employers with a steady stream of talent.

But workforce is not the only draw for businesses looking to relocate. Missouri’s low taxes and business costs continue to bring new business investment and expansion to the state. Companies locating in Missouri may also be eligible for Missouri Works, an economic development incentive programme designed to support companies considering Missouri for relocation or expansion. The programme includes multiple job creation categories and a mix of automatic and discretionary benefits.

These benefits are in the form of 100 per cent retention of state withholding tax and refundable, transferable, sellable tax credits for qualified companies that choose Missouri as a place to invest and create jobs. For all categories, companies must offer health insurance and pay at least 50 per cent of the premium for all full-time employees.

While it may be tempting for investors to look first to America’s familiar coastal areas, this “heart of the Heartland” deserves a closer look, especially Missouri’s low costs, easy accessibility, central location and unique resources.

Further Information

For more information, contact:

Christopher Chung, CEO
The Missouri Partnership
120 South Central Avenue
Suite 1535
St Louis, MO 63105

Tel: +1 314-725-0949
Email: info@missouripartnership.com
Website: www.missouripartnership.com

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