50 in 50: Missouri

50 in 50: Missouri

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

GDP: $297.7 billion

GDP 5-year compounded annual growth rate (CAGR) (2017-2021): 1.2% (U.S.: 1.6%)

GDP per capita: $48,502 (U.S.: $58,154)

Population: 6.2 million

Population 5-year CAGR (2017-2021): 0.2% (U.S.: 0.5%)

Unemployment: 2.4% (U.S.: 3.9%)

Economic outlook ranking: #29 out of 50

Fiscal health ranking: #24 out 50

Overall tax climate ranking: #13 out of 50

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

Top three industry sectors by GDP 5-year CAGR (2017-2021):

Top three metro areas by GDP:

• St. Louis
• Kansas City
• Springfield

Top three metro areas by population percentage increase in 2021 vs. 2020:

• Springfield
• Columbia
• Joplin

Infrastructure Highlights

Infrastructure: ASCE Infrastructure Grade (2018): C-

As part of the bipartisan infrastructure bill (BIL), the U.S. DOT just released $1.4 billion for Missouri for fiscal year 2023. The funds are meant for roads, bridges, tunnels, carbon emission reduction, and safety improvements. Outside of surface transportation, infrastructure for levees, dams, and waterways in the state need attention in order to minimize risk of flooding and improve navigation flow for shippers in the upper Mississippi.

The Missouri Highways and Transportation Commission (MHTC) recently approved funding for work that will be starting in 2023. Contractors have been assigned for work on Interstate 70 in Callaway County as well as rural road work in many other mid-Missouri counties. Across the state, officials are looking forward to seeing continued bidding competition for projects. Over the next five years, Missouri’s BIL funds will address the following categories of projects (additional funds may be deployed as federal grants get awarded to states):

Construction spending (Value of Construction Put in Place – CPiP):

• Private Nonresidential 2021 CPiP: $5.4 billion; 1.2% 5-year CAGR (2017-2021), slightly below overall U.S. CAGR of 1.4%
• State & Local 2021 CPiP: $4.0 billion; -0.8% 5-year CAGR (2017-2021), below overall U.S. CAGR of 4.0%

AE Industry

ENR 500 firm headquarters (2022): 15

M&A activity since 2018:

• 29 deals with buyers from Missouri
• 35 deals with sellers from Missouri

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.