From the Governor
“By helping businesses train new and existing workers, we’re helping them stay competitive and remain here in Missouri.” —Gov. Mike Parson
Best in the Midwest
The Show-Me State aims to elevate its national profile through its Best in Midwest initiative to rethink its economic development strategy. A number of major expansions and relocations have been made in the past year, including a new headquarters for Save-a-Lot, an Amazon fulfillment center and a CVS retail distribution center.
Dept. of Economic Development
Missouri BUILD (Business Use Incentives for Large-Scale Development): Offers financial incentives for the location or expansion of large business projects in the state that invest a minimum of $15 million ($10 million for an office industry project) and create at least 100 jobs.
Missouri Works: Offers multiple programs of achievable, flexible benefits and incentives for companies that create quality jobs in the state.
Manufacturer Sales Tax Exemption: Offers an exemption on state sales tax for qualifying expenditures ranging on things such as machinery, materials, energy and water.
Missouri Department of Economic Development: ded.mo.gov
Missouri Economic Development Council: showme.org
Missouri Partnership: missouripartnership.com
Economic Development Corporation of Kansas City: edckc.com
St. Louis Economic Development Partnership: stlpartnership.com
Highlighted Program or Initiative
The Best in Midwest initiative was launched in April 2018 to create a new, statewide strategy for economic development led by the Department of Economic Development (DED). With the help of PwC, the DED will conduct a complete, top-to-bottom review of the economic development strategy, identify opportunities for growth and make recommendations for how the state can expand its potential.
- Automotive technology company Faurecia announced in February 2018 a $60 million production facility and more than 300 new jobs in Blue Springs.
- Nestlé announced in March 2018 it will purchase a line from Conagra Brand’s Trenton manufacturing facility and add 135 jobs.
- Amazon announced in March 2018 it will create more than 1,500 full-time jobs at a new fulfillment center in St. Peters.
- Save-A-Lot announced in April 2018 the start of construction of a165,000-square-foot headquarters in St. Ann.
- Financial services company Square announced in May 2018 an expansion of its operations in St. Louis with 300 new jobs.
- CVS Health opened a new retail distribution center with 360 new jobs in Kansas City in August 2018.
10 Fortune 500 companies are headquartered in the state, including:
Express Script Holdings
Reinsurance Group of America
“We appreciate the leadership of Gov. Mike Parson and all of the state and local officials here who worked with us to make this project a success…. As our business continues to grow, this new facility is a critical part of our infrastructure to ensure we can best serve our customers throughout the Midwest region and beyond.” —Thomas Moriarty, Chief Policy and External Affairs Officer, CVS Health
“Kansas City Metro and the Blue Springs area are known for being a source of excellence in American manufacturing, and we’re looking forward to building on that expertise and skill set as we continued to provide the very best to our customers.” —Donald Hampton Jr., President, Faurecia Interiors, North America
“St. Louis has been home to Save-A-Lot for more than 40 years, and we are proud to continue our association with this great city…. Our desire to build for the future in state-of-the-art facilities with continued access to great talent on our doorstep underpins this decision.” —Kenneth McGrath, President and CEO, Save-A-Lot