Missouri's Department of Economic Development has been named the No. 1 economic development agency in the country.
The American Economic Development Institute (AEDI) and Pollina Corporate recognized Missouri for its record year of new job creation and capital investments. This is the first time for state agencies to be formally ranked, making Missouri the first to receive the distinction, according to AEDI and Pollina Corporate.
To develop the list of the top 10 states, AEDI evaluated the states' economic development organization's performance, and awarded points based on marketing of the state to employers, efforts for attracting new businesses and assisting existing state employers.
Missouri won with a score of 112, while Utah was the No. 10 spot with a score of 84.
In fiscal year 2014, Missouri had its best year on record for job creation and capital investments. The state partnered with many companies to announce 121 expansion projects, which included plans to create 28,198 new jobs and invest more than $6.35 billion in the state. Missouri also landed the largest expansion in state history when Cerner announced plans to create up to 16,000 new jobs with a $4.45 billion investment.
Missouri's statewide efforts toward business development consists of a public and private partnership, which is divided between the Missouri Department of Economic Development (DED) and the Hawthorn Foundation and its subsidiary, the Missouri Partnership. The role of the Missouri Partnership is to attract businesses to the state as well as manage related marketing.
DED and its partners work with local economic development agencies, and community colleges to improve opportunities for business development and foster economic growth. DED's divisions and boards also provide crucial financial support to sustain a healthy and diverse competitive business community.