Springfield, MO

Study: Missouri among best states for manufacturing taxes

Posted online
A study grading all 50 states based on their taxes on manufacturing businesses places Missouri among the top five nationwide, according to information released Monday.

The 2010 Manufacturing and Logistics Report Card, prepared by Ball State University's Center for Business and Economic Research, issues state grades in each of nine categories: manufacturing, logistics, human capital, cost of benefits, global reach, diversification of industries, productivity and innovation, tax climate, and venture capital.

The best tax climate for manufacturers is in Florida, followed by Indiana, Missouri, Montana and Utah, according to the study, while the worst is in Alaska, Arkansas, Mississippi, Nebraska and Wyoming.

In addition to its A in tax climate, Missouri received Bs or B-minuses in logistics, global reach and diversification - a key factor to reduce volatility, CBER Director Michael Hicks said in a news release.

Overall, the center thinks manufacturing will recover to prerecession levels in the next two years in states with low tax rates, a diverse collection of industries and a strong base of government services.

"There is a great deal of pent up angst to expand or update existing manufacturing facilities or to simply build new ones," Hicks said in the release. "Those states with low tax rates and policies favorable to business creation will be the first to see new facilities in the next 18 to 24 months."

The report was prepared by CBER at the request of Conexus Indiana, the state's advanced manufacturing initiative. A state-by-state breakdown is available at the university's Web site.[[In-content Ad]]


No comments on this story |
Please log in or register to add your comment
Most Read
SBJ Live logo
Are You in Over Your Head?

Are you out of your depth in your job situatuation? Jim Ampleman of WireCo WorldGroup has a simple solution.

“We’re in the people helping business.” Larry Peterson, Executive Director, Habitat for Humanity or Springfield Missouri, says there are some misconceptions about the nonprofit group. While they do accept donations they are not a charity …
Effective Communication Caleb Arthur, founder and CEO of Sun Solar, says you need to work on your communication skills within your business. He says it can be a struggle for every business and even small things can grow …
Living Quote - “You can do everything right…” Diana Day, Chief Business Officer of People Centric Consulting Group, says even when you do everything right, you still may not win. Strive for your goals, but realize that those may not be the right …
90 Ideas - Jeff Schrag Jeff Schrag, founder of Mother’s Brewing Company, says beware of turning your hobby into a business. You might find the thing you used to get away from it all has now become a source of stress. …