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Financial Services Leadership
Missouri is a leader in financial services with more than 125,000 people, or nearly 5 percent of the workforce, employed in occupations related to financial services. We are home to the second highest concentration of financial securities brokerage firms among major U.S. metros, and we are a global leader in the reinsur-ance industry.
Financial Services in Missouri
ONE OF THE BEST
TRACK RECORDS
IN THE COUNTRY
FOR FISCALRESPONSIBILITY
ONE OF THE BEST
TRACK RECORDS
IN THE COUNTRY
FOR FISCAL
RESPONSIBILITY
Missouri’s 50+ years of AAA bond ratings are represen-tative of our solid financial acumen and stable financial foundations. We are home to Edward Jones, Jack Henry & Associates, H&R Block, Wells Fargo Advisors, American Century Investments, RGA, CitiMortgage, DST Systems, MasterCard’s global operations center, and several other financial services leaders. Missouri is the only state to house two Federal Reserve Banks. Missouri also has depth of talent in financial services, with nearly 40 colleges and universities offering bachelor’s degrees or higher in Finance, Financial Management and Accounting.
In Missouri, it just adds up.
Missouri’s Financial Services Companies
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Missouri's largest financial services companies by employment
Major financial services companies
Kansas City
Warrensburg
Columbia
Rolla
Hannibal
West Plains
Cape Girardeau
Farmington
St. Louis
Fort Leonard Wood
Maryville
St. Joseph
Lebanon
Moberly
Kirksville
Mexico
Kennett
Sikeston
Joplin
Sedalia
Marshall!(
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45 7
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14 15
91
32
5 8
10 11
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44
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57
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Missouri’s central location allows companies to stretch their workdays to service customers on both coasts. Travel across North America is simple, with more than 70 nonstop destinations from Missouri’s airports.
Missouri is within 600 miles of 50 percent of U.S. households, including those in seven of the nation’s fastest growing metros: Atlanta, Austin, Dallas, Denver, Houston, Minneapolis, Nashville and San Antonio (Census Bureau, 2018).
Missouri’s Central Location
Airport
600 mile radius
1,200 mile radius
HoustonSan AntonioAustin
Dallas
Denver
Minneapolis
DetroitChicago
Indianapolis Columbus
Memphis
Oklahoma CityAtlanta
Nashville Charlotte
Missouri’s Financial Services Companies
Major Missouri Financial Services Companies
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Major Missouri Insurance Companies
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* headquartered in Missouri
Major Missouri Accounting Firms
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Federal reserve banks
* headquartered in Missouri
Cenlar FSB, a financial services company that specializ-es in home loans, expanded with plans to add 500 jobs in O’Fallon, Missouri. The company is planning to take over the mortgage servicing operations of Citigroup as a result of a shift in focus by Citigroup.
Chase Card Services, a financial services company, announced plans to expand its workforce in Springfield, Missouri. The company will celebrate its 20th anniversa-ry in Springfield by adding 300 new jobs that will focus largely on customer service for credit card owners.
DST announced plans to expand in Kansas City in 2017, creating 415 new jobs. DST is a leading global technol-ogy, strategic advisory, and operations outsourcing company operating in the financial and healthcare sectors.
First Mortgage Solutions, LLC expanded and created 17 new jobs in the Kansas City region.
Mid-Missouri Bank broke ground on a new $4 million headquarters in Springfield, Missouri.
Multipli Credit Union expanded with a new headquar-ters in Springfield, Missouri.
PennyMac Financial Services, Inc. expanded recently, creating 155 new jobs in St. Louis, Missouri.
Safety National Casualty Corporation, a leading specialty insurance and reinsurance provider, recently began construction on its new corporate headquarters in Maryland Heights. The 145,000 sq. ft. expansion will house the company’s learning and operations func-tions, which will include new offices, workstations and meeting space in addition to a professional develop-ment center.
Spring Venture Group, a direct-to-consumer distribu-tor of Medicare supplement insurance, continued to grow in Kansas City, Missouri. The new 210,000 sq. ft. headquarters is home to the more than 500 current Spring Venture employees, and the company expects to add another 1,000 employees in the coming years.
Recent Financial Services Expansions And Investment
Square Inc., a leading financial services company lo-cated in the Cortex Innovation Community in St. Louis, Missouri, recently doubled its footprint and created an additional 300+ new jobs.
SwipeSum relocated its headquarters to St. Louis, Missouri, in early 2018, and expanded into Kansas City, Missouri, in 2019. The combined expansions created 90 new jobs in Missouri.
TrialCard, a health innovation company specializing in helping pharmaceutical manufacturers with distribu-tion, payment and patient-support services, expanded in Kansas City, Missouri. The expansion created 225 new jobs in Missouri.
Twain Financial Partners expanded in St. Louis, Missouri, creating 25 new jobs.
Today, more than 125,000, or nearly 5 percent, of workers in Missouri are employed in core occupations relevant to the financial services industry. More than 12,000 licensed CPAs and more than 1,000 registered members of the CFA (Chartered Financial Analyst) Institute.
Nearly 40 Missouri colleges and universities offer bachelor’s degrees or higher degrees in Finance or Accounting. This well-educated population provides an easily trainable labor pool. Missouri also has a higher high school graduation rate (88.3 percent) than the national average (Education Week, 2017).
Financial Services Talent
Workforce, all industriesSource: Bureau of Labor Statistics, 2018
Workforce, financial activitiesSource: Bureau of Labor Statistics, 2018
NE1,020,197
NE66,526
IA1,686,840
IA109,288
IL6,469,668
IL374,998
MO3,052,386
MO164,344
KS1,482,220
KS73,904
KY2,061,622
KY94,514
TN3,244,921
TN152,832
AK1,351,496
AK50,779
OK1,841,872
OK77,724
University of Missouri in Columbia
Avila University (Kansas City): BS in Finance, BS in AccountingCentral Methodist University (Fayette): BS in Finance, BS in AccountingCollege of the Ozarks (Point Lookout): BS in AccountingColumbia College: BS in Finance, BS in AccountingCulver-Stockton College (Canton): BS in Finance, BS in AccountingDeVry University’s Keller Graduate School of Management-Missouri (St. Louis): BS and MS in AccountingDrury University (Springfield): BS in Finance, BS in AccountingEvangel University (Springfield): BS in Finance, BS in AccountingFontbonne University (St. Louis): BS and MS in AccountingHannibal-LaGrange University: BS in AccountingHarris-Stowe State University (St. Louis): BS in AccountingLincoln University (Jefferson City): BS, BA in AccountingLindenwood University (St. Charles): BS and MS in Finance, BS and MS in AccountingMaryville University of Saint Louis: BS in Finance, BS in AccountingMissouri Baptist University (St. Louis): BS in AccountingMissouri Southern State University (Joplin): MS in AccountingMissouri State University-Springfield: BS in Finance, BS and MS in AccountingMissouri Valley College (Marshall): BS in Finance, BS in AccountingMissouri Western State University (St. Joseph): BS in Finance, BS in AccountingNational American University-Independence: BS in AccountingNational American University-Lee’s Summit: BS in Finance, BS in Accounting
National American University-Weldon Spring: BS in AccountingNorthwest Missouri State University (Maryville): BS in Finance, BS in AccountingPark University (Parkville): BS in Finance, BS in AccountingPurdue University Global (St. Louis): BS, MS in Finance and AccountingSaint Louis University-Main Campus: MS in AccountingSoutheast Missouri State University (Cape Girardeau): BS in Finance, BS and MS in AccountingSouthwest Baptist University (Bolivar): BS in Finance, BS in AccountingTruman State University (Kirksville): BS and MS in AccountingUniversity of Central Missouri (Warrensburg): BS in Finance, BS and MS in AccountingUniversity of Missouri-Columbia: BS, MS and PhD in AccountingUniversity of Missouri-Kansas City: MS in Finance, BS and MS in AccountingUniversity of Missouri-St Louis: BS and MS in AccountingWashington University in St Louis: BS and MS in Finance, BS and MS in AccountingWebster University (St. Louis): BS and MS in Finance, BS and MS in AccountingWestminster College (Fulton): BS in AccountingWilliam Jewell College (Liberty): BS in AccountingWilliam Woods University (Fulton): BS in Accounting
Schools Offering Financial or Accounting Degree Programs
Occupations for Financial Services
Code Occupation Title Employment Hourly Median Wage
Hourly Mean Wage
Annual Mean Wage
00-0000 All Occupations 2,804,780 $17.33 $22.33 $46,460
11-3031 Financial Managers 7,630 $58.59 $65.63 $136,520
13-0000 Business and Financial Operations Occupations 138,940 $29.94 $33.25 $69,160
13-1031 Claims Adjusters, Examiners, and Investigators 7,250 $31.40 $31.89 $66,340
13-1041 Compliance Officers 5,200 $28.11 $29.89 $62,180
13-1051 Cost Estimators 4,630 $30.56 $32.51 $67,620
13-1071 Human Resources Specialists 12,020 $26.78 $30.19 $62,790
13-1075 Labor Relations Specialists 1,600 $28.43 $26.56 $55,240
13-1081 Logisticians 3,170 $32.93 $36.80 $76,540
13-1111 Management Analysts 7,140 $36.65 $39.09 $81,300
13-1141 Compensation, Benefits, and Job Analysis Specialists 1,510 $28.32 $30.83 $64,120
13-1151 Training and Development Specialists 5,460 $27.13 $29.43 $61,210
13-1161 Market Research Analysts and Marketing Specialists 9,920 $27.27 $31.43 $65,360
13-1199 Business Operations Specialists, All Other 14,260 $32.69 $35.34 $73,500
13-2011 Accountants and Auditors 25,090 $30.60 $33.77 $70,240
13-2021 Appraisers and Assessors of Real Estate 1,350 $24.44 $26.54 $55,190
13-2031 Budget Analysts 690 $30.71 $33.28 $69,220
13-2041 Credit Analysts 1,960 $30.91 $36.36 $75,620
13-2051 Financial Analysts 4,280 $39.42 $44.14 $91,800
13-2052 Personal Financial Advisors 5,050 $30.29 $41.27 $85,830
13-2053 Insurance Underwriters 2,320 $31.08 $32.81 $68,250
13-2061 Financial Examiners 2,370 $31.84 $35.52 $73,870
13-2071 Credit Counselors 510 $22.17 $25.60 $53,250
13-2072 Loan Officers 7,130 $32.70 $36.80 $76,550
13-2081 Tax Examiners and Collectors, and Revenue Agents 1,830 $21.00 $22.88 $47,590
13-2082 Tax Preparers 990 $17.79 $19.46 $40,480
13-2099 Financial Specialists, All Other 2,050 $33.45 $35.60 $74,050
Source: BLS, 2018
Quality of Life
91 state parks and historic sites covering nearly 160,000 acres
Two World Championship baseball teams and the 2019 Stanley Cup champions St. Louis Blues
More than 1,100 miles of lake coastline, including the popular Lake of the Ozarks
Nationally recognized symphonies, historic formal gardens, renowned art galleries, and live theater across the state
Numerous wine trails, home of Anheuser-Busch, and a growing craft beer industry
Branson, the “Live Music Capital of the World,” welcomes millions of visitors every year
Missouri Can Help Reduce Your Risk and Your Costs
Missouri provides you with a solid business foundation, financial and otherwise. In Missouri, taxes and business costs don’t eat up all of your company’s profits.
Income Tax AllocationStarting January 1, 2020, Missouri’s corporate income tax rate dropped to 4 percent, making us one of the most tax-friendly states in the U.S. Missouri also moved to a single factor, market-based corporate income tax apportionment model based only on sales.
In addition, it is important to note that Missouri has not adopted worldwide or nationwide unitary tax assess-ment in computing multinational corporate income tax liability.
“certified” reduces the risk associated with develop-ment of particular sites by providing up front and consistent information. Additionally, Missouri’s 50+ years of a AAA bond rating is representative of our solid financial acumen and stable financial foundations.
Missouri has more than 47 rail served sites of 50+ acres or more and 180 industrial facilities with more than 50,000+ square feet (LocationOne as of 11/5/2019).
Workforce DevelopmentMissouri One Start provides businesses with $42 million of comprehensive pre-employment and customized training solutions to help them ramp up faster during an expansion. Missouri One Start’s network of colleges and training facilities have the resources to meet each business’s unique needs by delivering tailored pre-employment screening, employment marketing, and job specific training to make businesses more competi-tive. In addition, Missouri offers free community college through the A+ and Fast Track programs.
Our ServicesMissouri is also committed to your growth. Our goal is to reduce your risk and provide first-class support from your initial site search to the day you open for busi-ness. Our team is ready to work with you and provide a “concierge service” as you consider where your next expansion will be.
Benefits like our low business and labor costs, reliable and inexpensive energy, aggressive and performance-based incentives, and a statewide commitment to attracting companies and investment, make Missouri a place where your company can come to grow and thrive. Whether it’s in six weeks, six months, or six years, we are an expert resource to support you when the time is right to look at Missouri.
CORPORATE INCOME TAX RATE OF 4 PERCENT , THE 2ND LOWEST IN THE U.S.
Tax Exemptions for ManufacturersManufacturers locating in Missouri enjoy numerous tax advantages, including:• Sales/use tax exemption on machinery and
equipment used to establish a new or expand an existing facility
• Property tax exemption for inventories• State sales tax and local use tax exemption on energy
purchases
Certified SitesMissouri’s Certified Sites Program also reduces your risk by ensuring there has already been a comprehen-sive review of the availability of utilities, site access, environmental concerns, land use conformance, and potential site development costs. Having a site
Created September 2019 • Updated January 2020Missouri Partnership is a public-private economic development organization focused on attracting new jobs and investment to the state and promoting Missouri’s business strengths. We work in partnership with the Hawthorn Foundation, the Missouri Department of Economic Development, the State of Missouri, and economic development agencies across the state. • www.missouripartnership.com
Subash Alias, CEO 314-725-2688, [email protected]
Working primarily out of the St. Louis office, Subash is the CEO and focuses on bring-ing jobs and investment to Missouri.
Cathleen Flournoy, VP, Business Recruitment 816-392-5082, [email protected]
Based in the Kansas City office, and focusing on multiple industry sectors, Cathleen generates, cultivates and closes business attraction opportunities to bring jobs and capital investment to Missouri.
Deborah Price, VP, Business Recruitment & General Counsel314-932-3974, [email protected]
Focusing mostly in domestic markets as well as South America and Israel, Deborah is generating, cultivating and closing opportunities with companies across multiple industry sectors. As General Counsel, Deborah serves as the Partnership's senior attorney. She is based in the St. Louis office.
Dennis Pruitt, CEcD, VP, Business Development314-932-3972, [email protected]
Dennis, who is based in the St. Louis office, works across multiple industry sectors, primarily targeting companies in Europe, Asia, and Canada to bring new jobs and investment into Missouri.
Kylee Garretson, Director, Business Recruitment & Capacity Building314-800-6393, [email protected]
Kylee actively manages business attraction projects for Missouri, provides support to the full business recruitment team, and manages Missouri’s capacity building initia-tives in communities across the state. She is based in the Kansas City office.