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Missouri

A guide to help you understand the ins and outs of business in Missouri

Overview

Missouri is a Midwestern state which borders eight states: Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. Even though the well-known city of St. Louis is there, Kansas City is the largest city and Jefferson City is the state’s capital. It is the 21st largest state in the country and has a population of 6.14 million people, making it the 18th most populous state. The GDP for 2019 in Missouri was $328,401,000,000

The largest industries in Missouri are automotive suppliers, biosciences, manufacturing, financial and professional services, healthcare, IT, military and defense, and transportation and logistics. In 2018, Missouri saw $18.2 billion in direct military support spending. This, in turn, supported nearly 200,000 jobs and $29.2 billion in the state

In 2019, Missouri exported $24,939,538 to Qatar with its top exports being: Vehicles except railway and tramway, and parts Nuclear reactors, boilers, machinery, etc. Electric machinery, sound/tv equipment An estimated 36,000 jobs are being supported by the 2016 sale of 72 F-15Q fighters to Qatar for $21.1 billion. Boeing's St. Louis facility received direct benefit from the first half of the order being produced there.

Missouri’s corporate income tax is a flat rate of 6.25%. The three free trade zones in the state are located in Kansas City, Springfield and St. Louis. The state also has a total of 32 incentive programs including the Beginning Farmer Loan Program, the Wood Energy Tax Credit, and the Business Facility Tax Credit Program.

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