The Missouri Chamber Foundation’s Technology2030 report is a strategy to reposition our state as a global economic leader through the technology sector by the year 2030.
Missouri has a rich and growing technology sector, and the state can be even more competitive, grow even faster and be more broadly recognized as a technology leader. This report reviews employment, growth, concentration and wages for the tech sector in Missouri. The state’s performance is measured against other states for comparison. The report also evaluates a variety of technology infrastructure indicators to gauge the state’s competitiveness in the tech sector.
Overall, tech accounted for more than 5 percent of the state’s total employment, about 6 percent of its establishments and 9 percent of all wages. However, the tech industry has a greater impact on the state’s wages and sales. Missouri’s robust technology sector includes more than 12,170 employers employing almost 150,000 people and providing almost $16 billion in wages.
Missouri has a rich and growing technology sector, and the state can be even more competitive, grow even faster and be more broadly recognized as a technology leader. This report reviews employment, growth, concentration and wages for the tech sector in Missouri. The state’s performance is measured against other states for comparison. The report also evaluates a variety of technology infrastructure indicators to gauge the state’s competitiveness in the tech sector.
Overall, tech accounted for more than 5 percent of the state’s total employment, about 6 percent of its establishments and 9 percent of all wages. However, the tech industry has a greater impact on the state’s wages and sales. Missouri’s robust technology sector includes more than 12,170 employers employing almost 150,000 people and providing almost $16 billion in wages.
In this report, the total tech sector and each of the subsectors were compared to other states. The economic performance of the Missouri tech sector ranked strongest in measures of workforce diversity, cost-of-living-adjusted wages and IT growth rates. For 8 of the 31 technology performance indicators, Missouri ranked in the top 15 states.
A second set of state comparisons measured Missouri’s technology infrastructure, the foundations of a vibrant knowledge economy. Missouri ranked in the top 15 states for two of these indicators, including business-sponsored research and development and entrepreneurship levels. This report also identifies areas that need improvement. Missouri did not compare as well in broadband access, internet adoption and startup survival rates.
The results of this analysis reveal that Missouri’s tech sector is currently small in concentration compared to more traditional technology states, but it is an emerging hub with high levels of growth and important assets in place. With continued growth and attention, the tech sector can be a strong contributor to the Missouri economy and help the state grow and remain competitive.
In this report, the total tech sector and each of the subsectors were compared to other states. The economic performance of the Missouri tech sector ranked strongest in measures of workforce diversity, cost-of-living-adjusted wages and IT growth rates. For 8 of the 31 technology performance indicators, Missouri ranked in the top 15 states.
A second set of state comparisons measured Missouri’s technology infrastructure, the foundations of a vibrant knowledge economy. Missouri ranked in the top 15 states for two of these indicators, including business-sponsored research and development and entrepreneurship levels. This report also identifies areas that need improvement. Missouri did not compare as well in broadband access, internet adoption and startup survival rates.
The results of this analysis reveal that Missouri’s tech sector is currently small in concentration compared to more traditional technology states, but it is an emerging hub with high levels of growth and important assets in place. With continued growth and attention, the tech sector can be a strong contributor to the Missouri economy and help the state grow and remain competitive.
The findings of this report show that Missouri remains an emerging hub for the tech sector. The stability of the tech sector helped Missouri’s economy survive during the COVID-19 pandemic and can continue to help Missouri adapt to a rapidly changing economy. Beyond being a low-cost alternative to the high prices of major coastal cities, the state has particular competitive advantages. Growth in IT and tech manufacturing is among the top in the nation. The state’s resources show that Missouri could become a major player in the emerging tech subsectors such as advanced manufacturing, agtech and fintech.
To continue growth in the state, deficiencies will need to be addressed. The tech sector will likely continue to concentrate in the urban areas until broadband access is available and adopted in the rural portions of the state. Rural broadband may help other parts of the state capitalize on the proliferation of remote work after the pandemic. The state must put more focus on investment in research and development to leverage what private employers are investing in finding new innovations. More support to help entrepreneurs thrive is also needed.
The findings of this report show that Missouri remains an emerging hub for the tech sector. The stability of the tech sector helped Missouri’s economy survive during the COVID-19 pandemic and can continue to help Missouri adapt to a rapidly changing economy. Beyond being a low-cost alternative to the high prices of major coastal cities, the state has particular competitive advantages. Growth in IT and tech manufacturing is among the top in the nation. The state’s resources show that Missouri could become a major player in the emerging tech subsectors such as advanced manufacturing, agtech and fintech.
To continue growth in the state, deficiencies will need to be addressed. The tech sector will likely continue to concentrate in the urban areas until broadband access is available and adopted in the rural portions of the state. Rural broadband may help other parts of the state capitalize on the proliferation of remote work after the pandemic. The state must put more focus on investment in research and development to leverage what private employers are investing in finding new innovations. More support to help entrepreneurs thrive is also needed.
The data from this report was used in Missouri’s application for the federal Industry-Driven IT Apprenticeship grant.