What you should know about the PACE program!

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In honor of Global Entrepreneurial Week . . . 5 Reasons to start your business in Missouri!

Today marks the start of Global Entrepreneurship Week, a weeklong celebration of innovators and job creators who launch startups that bring ideas to life and drive economic growth.

And what better way to celebrate this occasion than by reminding you why Missouri is the best place for entrepreneurs? It was very hard to do…but we narrowed it down to 5 Reasons to Start your Business in Missouri:

1

Booming entrepreneurial ecosystem – Missouri currently boasts the 2nd most startup accelerators per capita, and is currently one of the top 10 states for startup funding. The state is also home to numerous organizations and programs that accelerate economic development by providing grant funding to budding businesses, including the Missouri Technology Corporation, Arch Grants, Capital Innovators, 1ST50K, and the Prosper Startup Accelerator, among many others. And according to the latest census data, Missouri also led the nation in new business formations!

2

Top-notch, educated workforce – You can connect with staff that have the skills and knowledge to grow your new business in the Show-Me State. With more than three million educated workers, Missouri’s talent pool is larger than the total population of 20 other states, including many of its neighbors. Additionally, the state’s high school graduation rate is 5 percent higher than the nation average, and the state is home to several nationally-ranked post-secondary institutions. To top it off, Missouri makes training your workforce easy with the nation’s #7 best workforce training environment, led by Missouri Works Training.

3

Pro-business environment – Businesses that start in Missouri thrive – which is why Missouri has been ranked among the Top 10 Pro-Business States by Pollina Corporate for six years running. On top of that, we have the 4th best corporate income tax index, 11th lowest cost of doing business, and the 6th lowest industrial electricity rates. Together, these factors helped Missouri recently grab the title of the #1 state in the nation for new business creation.

4

Excellent location and infrastructure – When starting a business, location is EVERYTHING. And as the country’s population center, Missouri is also within 600 miles of 53 percent of all national manufacturing plants. This central location is aided by Missouri’s vast network of transportation infrastructure, including the nation’s 6th largest public road and highway system, 14 public port authorities, two international airports, 10th largest railroad mileage, and 10th largest inland waterway mileage. Additionally, Missouri’s infrastructure has been ranked the 6th best in the nation. Bottom line – you can connect with your growing clientele quickly.

5

Culture of innovation – Inspiring your team is key to ensure business success. From rolling farmland to bustling metropolises to up-and-coming suburbs, there’s nowhere like Missouri to find such a diverse synergy of resources and attractions that keep a high stock of talent around. With the nation’s 4th most diverse economy, in Missouri you can find a fashion firm living next door to a technology startup, right down the hall from a healthcare company and a new coffee shop. Visit our many innovation centers, take a walk through the numerous historic downtown shopping districts – everywhere you look, the fabric of Missouri culture blends seamlessly with innovation.

 

Important Things Residents in Rural Economic Enterprise Zones should know . . . What is a TIF?

Local Tax Increment Financing (Local TIF) permit the use of a portion of the local property and sales tax to assist funding the redevelopment of certain designated areas within your community.  Additionally, TIF may be used to pay certain costs incurred with a redevelopment project. Such costs may include, but are not limited to:

  • Professional services such as studies, surveys, plans, financial management, legal counsel
  • Land acquisition and demolition of structures
  • Rehabilitating or repairing existing buildings on site
  • Building necessary new infrastructure in the project area such as streets, sewers, parking, lighting
  • Relocation of resident and business occupants located in the project area

For more information regarding Tax Increment Financing, please visit the following webpage:

http://www.missouridevelopment.org/community%20services/Local%20Finance%20Initiatives/Tax%20Increment%20Financing.html