Missouri: Thriving Economy for 2014
There are a number of items Missourians can look forward to in 2014. From a booming automotive industry to a growing agriculture sector, this Show-Me state is prepared for a very economically rewarding year. In recent news St. Louis was selected by the Obama Administration as one of the target cities for the Strong Cites, Strong Communities Initiative. But what does this actually mean for the city of St. Louis? Under the Strong Cities, Strong Communities Initiative a full-time employee will work with the Mayor of St. Louis for at least a year to prioritize federal investments, provide assistance with local programs, facilitate more effective utilize of existing resources and more. What is interesting is the president of the Federal Reserve Bank of St. Louis has already predicted that the GDP in 2014 will grow by 3 percent.
In Governor Nixon’s recent State of the State address he was proud to announce the current conditions of the economical climate of Missouri. The Governor mentioned that Missouri’s unemployment rate has stayed below the national average for 51 straight months. The state has added 44,000 jobs in past year alone. The private sector specifically has seen some major growth and Governor Nixon reported that Missouri’s private sector is in the top 10 of the nation. Missouri’s economy is also fairing better then all of the neighboring states. Missouri has the sixth lowest taxes in the nation and the Governor has signed four cuts which were designed to help employers expand their businesses. For 2014, Missouri employers should save an impressive $70 million due to a corporate franchise tax cut.
Missouri is home of a thriving automotive industry. Governor Nixon’s Automotive Jobs Task Force and the Missouri Manufacturing Jobs Act has made significant impacts on Missouri’s economy and the Ford Motor Company announced they will be manufacturing their new 2015 Ford F-150 at the Kansas City Assembly Plant. Just last year Ford had to create a third production shift at this facility to meet customer demand and with the popularity surrounding the new F-150 it is expected that this announcement will positively impact Missouri as a whole. The F-150 is recognized as one of the best selling vehicles in the nation and this new model is designed with a variety of beneficial innovations. One of the key features of the 2015 Ford F-150 is the high-strength aluminum-alloy body. This new design has dropped 700 pounds compared to the previous model and combined with the highly efficient 2.7 liter Ecoboost engine this Ford will perform with a greater fuel economy than ever before.
Missouri is a forward thinking state and this is seen through the actions of the Missouri Department of Higher Education. The state knows that with the expanding automotive, aerospace and other industries there is going to be a demand for more highly trained employees. The A+ Scholarship program is one of the programs to help meet these needs for a stronger workforce. This program will allow eligible students to attend two years of community college with free tuition. 2014 will not only be rewarding for Missouri but it will also be a year in which all Missourians will make an economical impact across the nation.