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5 reasons Missouri is right for financial and professional services

 

Located in the Central time zone, Missouri makes it easy to do business with both domestic and foreign-based companies in real time.  The historic presence of financial firms throughout the state ensure an established and qualified workforce. In addition, Missouri is known for its leadership in financial services innovation and fintech innovation.

 

1. Missouri is more pro-business than other midwestern states.

 

  • Missouri has remained in Pollina Corporate Real Estate's Top 10 Pro-Business states for six years.
  • Missouri's diverse economy names it a far less volatile environment for business.
  • Missouri is extremely tax-friendly. The state has the 7th best property tax index in the U.S. (Tax Foundation), and property tax abatements are available for qualifying companies. Missouri's franchise tax will be phased out by 2016.
  • Missouri has maintained a AAA bond rating for over 50 years.
  • In both 2009 and 2013, Missouri's captive insurance laws were enhanced to support the state's $6.5 billion captive insurance industry and further help lower the overhead costs for mid-sized businesses in the state.

2. Missouri's got talent!

  • Forbes ranked St. Louis 5th nationally in job gains in the financial services industry in 2014.
  • More than 230,000, or 8.7%, of workers in Missouri are employed in core occupations relevant to the financial services Industry (BLS).
  • A well-educated population provides an easily trainable labor pool. Missouri has a higher high school graduation rate than the U.S. average (Education Week).
  • Over 40 Missouri Colleges and Universities offer bachelor's degrees or higher degrees in finance or accounting (NCES).
  • Bloomberg Businessweek rated Washington University's undergraduate business degree 5th in the U.S. in 2014.

3. Missouri's central location and stable natural environment provides an ideal home for your customer's data.

  • Missouri's central location provides quick connections to both coasts.
  • Missouri is within 600 miles of 50 percent of U.S. households, including those in seven of the nation's fastest growing metro populations: Dallas, Houston, Atlanta, Austin, Denver, San Antonio, and Minneapolis.
  • Located in the center of the country, Missouri is a low-risk state for acts of terrorism and has experienced no such events (FEMA).
  • Missouri has a stable environment for keeping data secure. The state has experienced no major disasters related to hurricanes or earthquakes since record keeping began in 1957 (FEMA).

4. Missouri has dependable, redundant and diverse internet network infrastructure.

  • Numerous Tier 1 providers have a strong presence throughout Missouri with over 2,000 miles of fiber combined. Providers include AT&T, CenturyLink, Cogent, level 3, Sprint, Time Warner, Verizon, and XO.
  • In 2014, Google announced Kansas City would be the first to test the new Google Fiber small business service. Kansas City was selected from over 1,100 communities in 2011 to be the first to receive Google Fiber. 
  • At&T's Internet GigaPower service is available in Kansas City for qualifying residents and small businesses, and the company recently announced that the service would be available in St. Louis by 2015.
  • Missouri benefits from the presence of the National LambdaRail (NLR) and Internet2 high-speed national networks connecting research institutions to one another for faster exchange of data.

5. Missouri is an established leader in financial services. Look who's here:

  • Missouri is home to the regional headquarters of several large banks, including Bank of America, Regions Bank, and U.S. Bancorp, as well as the headquarters for Commerce Bank, Central Bank, and UMB Bank- three of the top banks in the nation according to Forbes.
  • Missouri is the only state with two Federal Reserve banks, located in Kansas City and St. Louis.
  • The IRS has a significant presence in Kansas City, employing more than 6,000 people during peak season.
  • Missouri topped the list of best states for banking in 2014 (Moneyrates.com).

Image: MISSOURI'S AAA-RATING

MISSOURI'S AAA-RATING

Missouri is one of only nine states with an AAA from all three ratings agencies.

Financial services companies:
American Century Investments (HQ Kansas City)
Central Bank (HQ Jefferson City) 
Commerce Bancshares (HQ Kansas City) 
DST Systems, Inc. (HQ Kansas City) 
Edward Jones  (HQ St. Louis) 
H&R Block (HQ Kansas City) 
North American Savings Bank (HQ Grandview)
Scottrade(HQ St. Louis)
Stifel Financial Corp (HQ St. Louis)
UMB Financial Corp. (HQ Kansas City) 
Veterans United Home Loans (HQ Columbia) 

Insurance related companies:
American National Property and Casualty (HQ Springfield)
Centene (HQ St. Louis)
Columbia Mutual Insurance Company (HQ Columbia)
Lockton (HQ Kansas City)
Reinsurance Group of America (HQ St. Louis) 
Shelter Insurance (HQ Columbia)  
Spring Venture Group (HQ Kansas City)

Accounting firms: 
Anders (HQ St. Louis) 
BKD (HQ Springfield) 
Brown Smith Wallace (HQ St. Louis) 
CliftonLarsonAllen (St. Joseph and St. Louis)
Deloitte (Kansas City and St. Louis) 
EY (Kansas City and St. Louis) 
Grant Thornton (Kansas City and St. Louis) 
KPMG (Kansas City and St. Louis) 
McGladrey (Kansas City and St. Louis) 
PwC (Kansas City and St. Louis) 
RubinBrown (Kansas City and St. Louis)  
UHY Advisors (St. Louis)  

Next steps

Download our Financial Services industry brochure or our Call Centers industry brochure.

 

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Phone: +1.314.725.0949
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120 South Central Avenue, Suite 1535
Saint Louis, MO 63105

12200 NW Ambassador Drive, Suite 205
Kansas City, MO 64163