We are always eager to celebrate Missouri’s project wins, but in order to gain a competitive edge, it is also important to understand the project characteristics and contributing decision factors for projects won so we can best allocate our marketing and business development resources in a way that will maximize future opportunities and additional project wins. As previously noted, project wins typically result from a culmination of numerous factors and risk mitigation. However, we are often able to identify a few driving factors which ultimately led to Missouri winning the project.
As previously noted, between FY 2016 and FY 2023, Missouri won 106 (13%) of the total 790 business attraction projects opened. The largest percentages of Missouri’s project wins were in the targeted sectors of Financial & Professional Services, Logistics & Distribution, and Advanced Manufacturing.
Notably, 37% of all projects Missouri won included a job creation of less than 50, whereas 21% of all projects Missouri won included a job creation between 50 and 99.
Missouri won the most projects (40) that had a capital investment of less than $5 million. However, Missouri had a higher success rate (57%) for projects with capital investment between $60 and $65 million.
It is important to note that not every project Missouri Partnership works to attract involves a real estate search. This is the result of a variety of reasons, including that sometimes clients conduct real estate searches independent of the site selection process they distribute to the economic development community. However, it is still important to review the data and trends for the information we do have about the type of facilities clients were seeking for the projects we won. The following includes a breakdown by facility type for the 106 projects Missouri won between FY 2016 and FY 2023. This also includes a breakdown of the facility types for projects won as a percentage of the total projects seeking that facility type. Notably, Missouri won only 6% of the total projects opened where the client was seeking an existing general manufacturing/industrial facility and only 7% of the total projects opened that were seeking a data center. In contrast, Missouri won 26% of the projects opened where the client sought a warehouse/distribution facility.
As previously noted, the reason Missouri wins a project is typically the culmination of several factors. The following includes a breakdown of reasons clients selected Missouri for the 106 business attraction projects Missouri Partnership landed between FY 2016 and FY 2023:
In addition, the following is a list of specific reasons for choosing Missouri for a variety of projects. Many of these are direct quotes from companies and consultants that were stored in Missouri Partnership’s CRM database. Others are based on Missouri Partnership project managers’ understanding of the project outcomes.
“The region is not only a hub for agriculture in America’s heartland, but is also already proving to be a diverse talent pool in proximity to many land-grant and research universities.”
“The company’s decision…was largely influenced by the region’s quality workforce. The key factor in site selection proved to be the existing knowledge base in the Springfield area, which far exceeded competing locations in other states.”
“Plug and play building”
“Animal health corridor”
“Innovation centers and partnership with Ameren”
Support from economic development partners
“Missouri Partnership & St. Louis region support”
“Coordinated response to unique project parameters”
“The company highlighted Moberly’s strategic location, as well as the support from the community and state as key reasons for their decision to expand in the region.”
Proximity to supply chain and customers
“Existing customer base”
“Company selected Kansas City for geographic distribution of their offices and due to strong supply chain and industry.”
“Proximity to new customers, and logistics associated with highway access”
“Proximity to HQ in Effingham”
“Better proximity to OEMs”
“This location will allow us to better serve our customers in the Missouri and Illinois area with faster lead time to help grow their business.”
“Liberty, Missouri, is a center for logistics excellence, and was named among the Top 10 U.S. Central Warehouse Sites due to its operating cost comparisons. With the global pandemic, companies are looking to Kansas City for lower-cost, more favorable tax regimes for their supply chain facilities.”
“Access to raw material”
Personal experience with community
“History of executive in Joplin”
“Interest in doing something for hometown”
“Incredible success in hiring for previous project”
“History of executive in Jefferson City”
“Personal relationship with community”
River and rail access
“Logistics, rail service, state and local incentives, real estate availability”
“Mississippi River and rail access”