Missouri offers many advantages for innovation
- October 28, 2015
Missouri shows it can innovate. At least that is the conclusion of the U.S. Chamber of Commerce’s new study, Enterprising States: States Innovate, which analyzes the 50 states through six lenses (Economic Performance, Trade & Transportation, Innovation & Entrepreneurship, Business Climate, Talent Pipeline, and High-tech Performance). The study also shows how close cooperation between governors and the business community can create a strong business climate which helps innovation flourish. Missouri ranked well in five of the six distinct categories.
The Show-Me State ranked 7th in Cost of living, 14th in State Fiscal Condition, 17th in Business Tax climate, and 23rd in U.S. Business Policy Index (all metrics in the Business Climate category). Missouri ranked 13th in the nation in High-Tech Job Growth (a metric in the High-tech Performance category), 17th in Labor Force Utilization and 21st in Higher-Ed Efficiency (metrics in the Talent Pipeline category), 24th in Adjusted Median Family Income (a metric in the Economic Performance category), and 25th in Academic R&D Intensity (a metric in the Innovation & Entrepreneurship category).
The study also recognized three Missouri initiatives designed to spur innovation and growth in the state. These are: The Missouri Building Entrepreneurial Capacity Program (MOBEC), The Missouri IDEA (Innovation, Development, and Entrepreneurship Advancement) Fund, and The Missouri Small Business Incubator Tax Credit Program.