JEFFERSON CITY, Mo. (KY3) — According to a recently published report, Missouri’s technology industry is experiencing the seventh highest growth rate nationally and has been identified as crucial for the state’s economic expansion.
Leaders from business and technology sectors statewide convened with a nonpartisan assembly of legislators at the Missouri Capitol on Wednesday. As outlined in a Missouri Chamber report titled Technology 2030, Missouri has the potential to thrive due to the expanding tech sector.
The report details multiple primary recommendations for the state to capitalize on this opportunity:
- Utilize areas where Missouri already possesses advantages.
- Concentrate talent acquisition efforts on former Missourians who are coming back.
- Increase initiatives aimed at linking youth with tech professions.
- Expand efforts to reach out to marginalized communities within the tech industry.
- Enhance the advantages of the local business environment
- Tackle shortcomings in technological infrastructure and address disparities in digital access
- Create a collaboration between government and private sectors to advance artificial intelligence.
Many nations find themselves at the heart of their respective continents. “We’re not only active on a national level; we’re also engaged globally,” stated St. Louis Democrat Senator Brian Williams, who co-founded the nonpartisan Legislative Technology and Innovation Caucus along with others.
With the Trump administration implementing tariffs and various policies aimed at bringing manufacturing and tech industries back to the U.S., Missouri might find itself well-placed to attract these emerging centers of activity.
Favia D’Souza co-founded
Sentio BioSciences
In Maryland Heights, their pharmaceutical manufacturing venture exemplifies how technology tycoons globally recognize Missouri’s promise.
She said three things make Missouri stand out to a potential tech company: its central location, low cost of living, and highly skilled workforce from an abundance of universities and trade schools.
“With the present administration, there is significant pressure to increase manufacturing within the U.S.,” D’Souza stated. “I believe Missouri is perfectly situated. It’s practically like a hidden gem.”
If the state aims for such growth, it must lure these companies. According to D’Souza, Missouri should provide startup incentives, particularly to small enterprises, to take advantage of this opportunity.
A bill
The approval for these incentives was granted by a Senate committee earlier this month; however, with just a limited number of weeks remaining in the legislative session, legislators are rapidly approaching their deadline to enact new laws.
“When someone considers moving and relocating, I want them to think, ‘Why not Missouri?’ rather than asking, ‘Why should we choose Missouri?’. I aim for people to come here, establish stores, create job opportunities, and boost business growth within our state,” stated Senator Kurtis Gregory, a Republican from Marshall, who introduced the legislation.
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