Coming off its strongest year for manufacturing since 1995, Missouri received a steady grade in a national report for manufacturing and logistics industries.
A Missouri’s manufacturing and logistics industries are strong
and healthy, according to a report.
The Center for Business and Economic Research at Ball State University
and Conexus Indiana published the Manufacturing and Logistics National Report,
which measured several categories and some of the underlying indicators for
manufacturing and logistics health.
The categories include manufacturing industry, logistics, human
capital, worker benefit costs, tax climate, expected liability gap, global
reach, sector diversification, productivity and innovation. Each category was
given a grade A – F, dating back to 2009.
Here is Missouri’s 2015
Report Card:
Manufacturing: C
Logistics: C+
Human Capital: C
Worker Benefit Costs: B
Tax Climate: A
Expected Liability Gap: B
Global Reach: C
Sector Diversification: A
Productivity and Innovation: D
Manufacturing in the state makes up 7.9 percent of the economy,
totaling more than $18 billion in personal income, the report found. Since
2009, manufacturing has remained flat at a C grade.
The industry makes up 11.4 percent of total employment in Missouri, the state’s
department of economic development found. Since 2010, Missouri has focused on
growing advanced manufacturing as part of the state’s DED plan, named the Strategic Initiative for Economic Growth.
Gov. Jay Nixon announced earlier this year that 2014 was
Missouri’s best year for manufacturing since 1995, adding 9,900 jobs to the
sector.
“Missouri manufacturing is staging a major comeback,” Nixon said while announcing a new global trade
commission.
However, Ball State’s CBER has given Missouri a C grade since
2009.
A highlight in the report card was Missouri’s tax climate,
which has been graded an A for the last six years. This year, the Tax
Foundation ranked Missouri in the top-half of the nation for its
business climate, No. 17 overall. Missouri’s corporate tax rate ranked high,
with its climate as the fourth-best in the country for that category.
