On Tuesday, the Missouri Department of Economic Development (DED) announced that Missouri’s 2015 private sector employer community comprised of 182,004 employing units or establishments and saw a net growth of five percent or 8,742 units from 2014. Over that same time, 18,342 new businesses formed in Missouri, a 5.7 percent increase compared to 2014.
“More and more companies and entrepreneurs are seeing the many benefits of starting or growing their business in Missouri,” said DED director Mike Downing. “Our low taxes, competitive business incentives, top-notch talent, access to resources and high quality of life make it the perfect location for businesses to thrive.”
The report, produced by the DED’s research unit, the Missouri Economic Research and Information Center, found that 77 percent of the state’s private sector employers employ less than ten people. Businesses employing 20 to 49 people experienced the largest increase in employment, adding over 13,000 jobs. Overall, Missouri businesses added nearly 51,800 employees in 2015.
According to the most recent US Census data, Missouri led the nation in new business formation. In addition, household income for Missourians grew by 3.8 percent from 2014, the largest gain since before the recession.
You can find the full report here.