Welcome to The Show-Me State
The Heart of America – The Gateway to the West
The State of Missouri is committed to growing its economic impact by encouraging and helping companies located in Missouri to realise their full potential. Encouraging overseas companies to invest in Missouri and grow their US business is a key element in this strategy.
It can be a complex decision process to decide where to locate, which is why the State of Missouri has, for the past twenty years, had a European office dedicated to assisting European companies with their plans to expand in the USA.
The Missouri European Office’s role is to show why Missouri is a desirable location and an attractive business climate, specifically by:
- providing relevant information including market data, availability of property, property costs, utilities, labor rates, available work-skills and recruitment, materials and supplier chains, investment incentives, corporate formation, corporate services and much more, not forgetting quality of life in your chosen location.
- helping European companies source products and technologies from Missouri companies
- assisting Missouri companies with market information and helping them source agents, distributors and strategic partners in Europe.
Why Foreign-Owned Companies are Good for Missouri
- In 2005, foreign-controlled companies employed 85,100 workers in Missouri.
- Major sources of this investment were Germany, the United Kingdom, France, Switzerland, and Japan.
- Almost half of these jobs (46 percent, or 39,500 workers) were in the manufacturing sector.
- Foreign-controlled companies accounted for 12.7 per cent, over one-eighth, of total manufacturing employment in Missouri .
- Foreign investment was responsible for 3.6 per cent of the state’s total private-industry employment.
Why Missouri is Good for European Companies
A Desirable Location
Located in the nation’s heartland Missouri is within 500 miles of
- 43% of US population and households
- 44% of US wholesale trade
- 44% of US manufacturing establishments
- 41% of US service industries
Good Transport Infrastructure
Getting to, from and around Missouri is easy.
- Ten interstate highways
- 10th in US rail mileage and rail traffic
- 1,000 miles of navigable waterways
- Thirteen Port Authorities
- International airports at St. Louis and Kansas City
Pro Business Climate
Missouri offers a strong, stable and diverse economy essential to the success of both large and small businesses
- 5th most diversified economy in the US
- Ranks in top 10 for overall business friendly tax system
- Pro-business Governor and legislature pushing to cut business costs and red tape
- 20 venture capital firms in Missouri with over $1.4 billion under management
- Low utility rates
A Reasonable Tax Structure
Missouri is ranked 10th best business tax climate by the Tax Foundation and 10th by the Pacific Research Institute for overall business-friendly tax system.
- 5.2% net effective corporate income tax – 7th lowest in US
- 4.25% state sales/use tax – lower than 35 other states
- Total exemption of manufacturing inventory from property tax
- Exemption of sales tax on manufacturing machinery, and other exemptions
- State sales tax deducted from federal tax
A Productive, Trained and Quality Workforce
The state is ranked #1 by Business Facilities Magazine for workers’ quality of education and educational achievement.
- Highly educated –88% high school graduates: 28% bachelor degree or higher. Both higher than US average
- 17% of all degrees in science and engineering
- Washington University, St Louis, medical school ranked no. 3 in US
- Workforce 5% more productive than US average
A Diverse and Robust Range of Industry Clusters
Missouri’s industry strengths are identified by core products/services that have common supply chains, labor skills, technologies and markets
• Agribusiness • Aerospace/Defense • Financial Services • Life Sciences
• Automotive • Information Technology • Transportation/Logistics • Energy
A Good Quality of Life
Missouri has been called 'Easy Living' because of its quality of life.
- 6th lowest cost of living in the US
- Low tax burden on personal income
- Gas and fuel prices consistently below national average
- 57 colleges and universities, 10 professional/technical schools, 158 proprietary schools
- Wide range of cultural, sport and entertainment activities
- Average temperature: winter 25°F/-3°C; summer 78°F/25°C
A Cooperative State and Local Governments
Missouri wants to encourage business growth by facilitating permits and zoning, enacting needed reforms that affect business and providing relevant business incentives that assist businesses where necessary.
- Enhanced Enterprise Zones offering state tax credits and local property tax abatement
- Quality Jobs Tax Credit if salaries for new jobs are higher than county average
- Customized Job Training and New Jobs Training programs
If you are considering expansion of your business into the USA or you are seeking to source US products we look forward to meeting and talking with you. Our services are confidential and are provided free by the State of Missouri Department of Economic Development.
Lieke van Gompel, Director
Missouri European Trade & Investment Office
2-4 Tudor Street | London EC4Y 0AA
T: +44 (0)207 8220 710 | F: +44 (0)207 353 1081
Email: Missouri-Europe@ocoglobal.com
In the meantime, if you want to know more about the business climate in Missouri and doing business in Missouri, here are some useful websites:
Missouri Department of Economic Development
Missouri Economic Research & Information Center