With some of the lowest business costs - including the cost of labor - in the United States, Missouri is good for business. Missouri's energy costs are likewise low, lower in fact than in 47 other states, significantly reducing operating expenses for companies located here.
Missouri's tax structure is among the friendliest in the nation, with the fifth-lowest corporate income tax and one of the lowest tax burdens per worker. Add to this a low cost of living, and it's easy to see why people want to live and work here. Missourians enjoy a temperate four-season climate, beautiful state parks, sparkling lakes, and countless sports and entertainment opportunities.
A Strategic Location
Positioned near the geographic and population centers of the United States, Missouri makes a smart strategic location for business. The state's proximity to resources and distribution gives it a decided edge in both domestic and foreign markets. Missouri is within a single day's drive of 51 percent of all U.S. households and 52 percent of all U.S. manufacturing establishments.
Of course, location means little without the transportation system to support it, and, in that regard, Missouri ranks exceptionally high. In 2010, CNBC ranked the state as having the seventh-best transportation network in the country.
Missouri's highway system is also ranked seventh, with more than 32,000 miles. Several routes have the added advantage of light traffic, making it even easier to move product quickly.
Missouri also has a healthy railroad system with the second- and third-largest terminals in the nation (Kansas City and St. Louis) and 4,000 miles of track. Six Class I carriers connect Missouri to most major domestic markets.
Additionally, Missouri companies benefit from an efficient river transport system, with more than 1,000 miles
of navigable waterway and the Mississippi River's northernmost ice-free ports. Three foreign-trade zones -
in Kansas City, St. Louis, and Springfield - and eight commercial airports extend Missouri's business reach.
A Diversified Economy
But transportation is only part of what makes Missouri right for business. The state has the fourth-most-diversified economy in the United States, making it less prone to vulnerabilities in the market. Strong business clusters located throughout the state include animal health, plant science, financial services, energy, IT, and agribusiness.
Company headquarters are also drawn to the state for its low business and energy costs, outstanding fiberoptic network, and highly secure sites. Business giants like Hallmark, H&R Block, Monsanto, and Express Scripts are all headquartered here. Other large companies - including Procter & Gamble, Tyson Foods, and Wal-Mart - have major distribution outlets in Missouri.
The success of these U.S. companies is matched by that of international businesses that maintain operations in Missouri. These include Teva Pharmaceuticals (based in Israel), BASF Corporation (based in Germany), and Thomson Reuters, one of the largest providers of news and financial information, headquartered in Canada. These companies, and thousands more, enjoy high worker productivity, cost savings, logistical advantages, and comfortable living in the state of Missouri.
For information on bringing your business to the state, please contact the Missouri Partnership.