Missouri Welcomes Manufacturers
Missouri is a great state by any measure. When it comes to a business-friendly climate, the show-me state ranks high among the nation’s states. Manufacturers and businesses that set up shop in Missouri can expect low taxes, a skilled workforce and a cost of living attractive to employees.
Many U.S. businesses in the last few decades moved manufacturing to overseas’ factories. Some businesses, however, are rediscovering the attractions of “made-in-America.”
The Midwest is a good place for industry. Among the heartland states, Missouri is particularly welcoming. Here are some of the characteristics that give the state a favorable manufacturing climate.
The State Has an Educated Workforce
The U.S. has the most productive manufacturing workers in the world, according to the National Association of Manufacturers. To continue this trend, companies need access to a skilled pool of labor. In the next ten years, manufacturing is forecast to have a shortage of qualified employees.
Missouri has an educated, affordable and abundant workforce. The state has an 86 percent high-school graduation rate, higher than most other states.
The state is home to about 140 institutions of higher education. These schools support companies that need employees with college degrees in engineering, computer science and other fields essential to advanced manufacturers.
The workforce in Missouri is three million strong. The average wage in the state is 8 percent less than the U.S. average.
Low Business Costs in the Show-Me State
U.S. wages and energy costs are currently stable. Some foreign countries, including China, are becoming expensive. Rising costs overseas and the complex logistics of doing business in a distant locale, may be making domestic manufacturing more enticing.
The state attracts businesses because of its relatively low taxes and cost of doing business. The state ranks third best in the nation for its corporate taxes and eighth best for property taxes according to the Tax Foundation.
Energy is affordable in Missouri. Commercial electricity is 18 percent lower than the U.S. average, while industrial electricity is 13 percent lower than the nation as a whole.
Missouri in the Middle
Missouri is ideally located in the center of the country, neighboring other states with strong manufacturing sectors. The area is a major hub for river, rail, air and road transportation. Large rail and river transportation systems pass through Missouri, giving companies ready access to affordable modes of shipping and transportation.
Plant relocation or establishing a business is not a simple task. It requires planning and skill. Storee is the Midwest’s leading industrial contractor. The company is based in Missouri. Storee can relocate a plant, move equipment or build a facility from the ground up.
Contact us for more information about our industrial and commercial services.