As a enterprise proprietor, you’re no stranger to danger. There’s danger concerned in all main choices, together with these associated to enterprise growth and relocation. That’s why it’s necessary to plan forward and contemplate the choices and sources obtainable earlier than you choose a brand new location.
Kansas Metropolis, Missouri – photograph credit score: Jotoya / Pixabay
Regardless of Missouri’s pure magnificence and various tradition, individuals in different states are likely to view it as a “flyover state.” In actuality, Missouri is greater than its agricultural business or the St. Louis Gateway Arch. It’s a beautiful state for entrepreneurs and leaders who’re selecting a location for a enterprise growth or relocation.
Missouri strives to reduce business owners’ risks by way of numerous state-sponsored packages and choices alongside one of many friendliest regulatory environments within the nation. As an illustration, it supplies corporations with customized workforce strategies to make sure they’ve the fitting expertise on the proper time. And with extremely aggressive industrial electrical energy charges (about 11% lower than the nationwide common), a AAA bond ranking for greater than 50 years, and steady rental costs (at $18.54 per square foot), it’s simple to really feel assured when increasing a enterprise into Missouri.
And that’s not all Missouri has to supply; there are different components to think about when selecting a location for your small business. Missouri has the second-lowest corporate income tax rate within the U.S. (among the many states which have one). The truth is, Missouri has one of many most business-friendly tax structures within the nation. It goals to offer enterprise homeowners a strong basis from the beginning by lowering their dangers and maximizing their features.
Corporations in any business can profit from what Missouri has to supply. But when your small business falls into these 4 sectors, it’s best to critically contemplate transferring or increasing to Missouri:
Tech hubs are sprouting up throughout the Midwest as corporations and expertise look past the coasts. Missouri is house to a number of nice cities (like Kansas City and St. Louis) which are inexpensive than ones you’d discover on the West or East Coasts. St. Louis options rising startup communities within the Cortex Innovation Neighborhood and the T-REX innovation and entrepreneur growth facility, and it’s the birthplace of the favored cost know-how Sq.. From a expertise standpoint, organizations like LaunchCode and Claim Academy are delivering tech expertise at an accelerated charge to Missouri employers.
photograph credit score: 12019 / Pixabay
With its well-known farmlands, Missouri boasts a massive agtech ecosystem throughout the state. Its crop and livestock variety, considerable water provide, and wealthy soil present a strong, statewide basis for its agtech ecosystem. That’s why Missouri is the house of main organizations just like the Donald Danforth Plant Science Heart, Bayer Crop Science’s International Seeds and Traits Headquarters, The Yield Lab, Corteva Agriscience, BASF, Bunge, KWS, Zoetis, and lots of extra.
It additionally serves as the company headquarters of Rabo AgriFinance, a part of the Rabobank Group, which supplies in depth financing and insurance coverage choices for U.S. farmers, ranchers, and agricultural companies. And agtech-focused innovation communities, equivalent to 39 North in Creve Coeur or the Package Bond Science and Expertise Incubator in St. Joseph, are offering a strong ecosystem to assist corporations of all sizes. Moreover, the Kansas Metropolis Animal Well being Hall contributes 56% of worldwide animal well being, diagnostics, and pet meals gross sales.
3. Meals Options
Missouri is well-positioned to develop and transport meals throughout the U.S. and the world rapidly and effectively. Already, Missouri’s robust food production sector contains greater than 400 corporations and almost 100,000 farms with the capability for a lot of extra. The state performs a number one function in producing agricultural merchandise, together with rice, soybeans, corn, sorghum, cattle, turkeys, and hogs, and it boasts greater than 130 wineries, 90 breweries, 20 distilleries, and the world-famous Budweiser household of beers.
Missouri affords meals producers entry to world markets, in depth distribution choices, a pleasant regulatory atmosphere, and a various buyer base. For all these causes, its meals and beverage manufacturing might develop into a $70 billion industry, and its complete agriculture business already exceeds $88 billion a yr.
4. Auto Manufacturing
Missouri continues to lead the charge in auto manufacturing: Basic Motors invested $1.5 billion to increase in Wentzville in 2019. Since 2010, greater than $4 billion has been invested in Missouri automotive amenities, and the state has supported this development with strategic incentive packages.
Kansas Metropolis is a serious participant within the state’s automotive business success, producing greater than 500,000 automobiles amid a worldwide pandemic. Moreover, a 2019 Brookings report lists it as one of 35 cities that may very well be America’s subsequent prime innovation hubs.
With its booming industries and pleasant enterprise atmosphere, together with different advantages, the Present-Me State offers enterprise homeowners loads of causes to pick out it as their growth location. Whether or not your small business falls into the tech, agtech, meals providers, or auto manufacturing sectors, there’s by no means been a greater time to think about transferring or increasing to Missouri.