fbpx

Missouri Partnership CEO Shares Three Vital Economic Development Attraction Factors

“Just as it takes a village to raise a child, enticing a large out-of-market company to plant roots around Kansas City, or elsewhere in Missouri, takes a partnership.”

That was the message from Missouri Partnership CEO, Subash Alias, in a recent article featured in the Kansas City Business Journal.

Alias went on to share three highlights about the state’s business attraction potential.

Labor, land remain make-or-break factors

Nationwide many states are suffering from the same two business attraction challenges — finding labor and talent for company prospects, and availability of the right real estate at the right time. But not Missouri.

“It’s not just who’s available today, but who is in the pipeline tomorrow?” said Alias. “These decisions are not one- or two-year decisions. They’re multiyear, multidecade decisions, and so they have to have some level of certainty that the labor force will be there.”

Virtual site tours will remain in the toolbox 

Missouri Partnership’s staff has returned to the road to meet prospective economic development contacts, such as project site selection consultants. Our team recently made trips to Columbus, Ohio, and Indianapolis, with visits to Cleveland and Pittsburgh scheduled in August.

During the past year and a half, Missouri Partnership was able to maintain existing contacts via Zoom but faced challenges forging new ties.

“The whole Zoom thing has added another layer to our ability to connect with folks,” Alias said. “Before that, they would show up at a site, and we would pull out a map and try to make the best of it in rainy or windy conditions.”

Range of business types remain interested

Missouri Partnership came out of the gate strong in 2021, and as of July 31 had eclipsed the entirety of 2019 and 2020 combined, in terms of company capital expenditures on projects won statewide. Businesses invested $650.3 million in 15 projects successfully landed this year so far, compared with $198.8 million in 19 projects in 2019 and $343.8 million in 16 projects in 2020.

*Originally published in the Kansas City Business Journal.

What Next?