While Missouri is home to 10 Fortune 500 companies and just as many of America's largest private companies as designated by Forbes, the state is equally dedicated to the growth of smaller businesses as well. Missouri is all about economic and business growth. The state has maintained a solid business environment over the years and that stability helps companies that are new to the state plan for growth even before relocating business to Missouri. Let's take a look at a few of the advantages to doing business in the "Show-Me" State.
Missouri has one of the most valuable workforces you will find anywhere across the country. Based on high school graduation rates, Missouri has a better educated workforce than most other states. This means our workers have the basic competencies to support advanced manufacturing and logistics. Missouri is home to nationally ranked Washington University in St. Louis, and nearly 140 other degree-granting institutions. Companies in bio, energy, financial, IT and health services benefit from the outstanding talent that is developed at these facilities.
In addition to quality workers, Missouri workers work for less. The average Missouri hourly wage is more than 8% less than other states. This makes labor more valuable in Missouri than in any other state. Compared to other Midwest states, Missouri is unique in that it has a workforce of more than 3 million.
The state of Missouri offers a combination of logistical benefits that truly affect the bottom line. Missouri's central geographical location helps companies reach most domestic markets in two days by land or three hours by air. Half of all U.S. households and manufacturers are located within a single day's drive. Missouri is also home to the two largest river systems in North America, and two of the largest rail terminals. International air service and the 6th largest public road and highway system benefit both domestic and foreign-owned companies.
Missouri Long-term Business Benefits
Having earned a AAA bond rating for 50 years, Missouri is a sound economic investment. Only two other states can make that same claim. Rare for a Midwestern state, the Tax Foundation has consistently ranked Missouri in the top 10 for low corporate income taxes. In addition, Missouri's streamlined incentives make it easier for companies to relocate to the state. Learn about these incentives here: http://loredc.com/incentives.asp. Missouri is also not affected by fluctuations in the marketplace to the degree that other states are.
In addition to a great business climate, Missouri offers a great quality of life. The Lake of the Ozarks area specifically, has a lot to offer in regards to quality of life. The Lake of the Ozarks is one of the most popular tourist destinations in the Midwest and offers endless recreational activities. Comprehensive healthcare and a great education are also available to residents throughout the Lake region. The cost of living is low, housing is affordable and the region is very fortunate to have low crime levels, as well as clean air and water for our citizens. Read more about the quality of life at the Lake of the Ozarks here: www.LOREDC.com/quality.asp.
Lake of the Ozarks - Your Strategy for Business Growth
If you're interested in joining the growing community at the Lake of the Ozarks, the Lake of the Ozarks Regional Economic Development Council can help! We're here to serve as your liaison for Lake of the Ozarks area. Our goal is to make your site search as easy as possible and to provide you with all the information and resources you need to consider our community during your site search. We can also assist you with most aspects of relocating your business to the Lake of the Ozarks and we encourage you to visit our website or call us at 573-569-7420.
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1000 City Parkway
Osage Beach, MO 65065