Missouri’s tech industry is projected to rapidly grow over the next five years.
According to a report by the Missouri Chamber Foundation, Missouri’s technology sector is poised to become a top-growth tech state.
The Technology 2030 Report analyzed Missouri’s current tech sector and its potential, specifically for energy technology, environmental technology, life sciences/biopharmaceuticals/agricultural tech, and IT.
Currently, Missouri’s tech sector employs more than 140,000 people and pays over $13 billion in annual wages, and is ranked among the top 10 states for future growth.
The study found that Missouri ranks best in the country for small business opening rate vs. closing rate, ninth for expected tech sector employment growth, and sixth for percentage of women in the tech workforce.
While issues like broadband access, internet adoption, and small business funding are factors that the state needs to improve on, the future of Missouri is bright.
“Kansas City and St. Louis have earned national reputations as outstanding locations for tech businesses,” says the report. “All the while, pockets of inspiring innovation are happening in Missouri’s mid-size cities and small communities across the state. Missouri is well-positioned to continue to build an inclusive tech sector.”