CNBC ranks Missouri No. 38 among ‘States for Business’

Missouri ranked No. 38 on CNBC’s recently released 2026 list of America’s Top States for Business, and the overall poor showing – and low rank on key indicators such as workforce – prompted a call to action from Springfield business, civic and education leaders.

Missouri was down from No. 34 a year ago. Ohio was ranked No. 1, followed by North Carolina, Virginia, Texas and Minnesota.

The Show-Me State’s ranking on seven key indicators was a mixed bag, with Missouri near the bottom at No. 44 for quality of life and No. 49 for workforce, and near the top at No. 5 for cost of doing business. It was the No. 49 in workforce that Jack Stack, president and CEO of SRC Holdings Corp., said should be a wake-up call.

“It isn’t that the people aren’t really, really good, it’s the fact that they are not ready to compete,” he said, in an interview. “And if you’re not ready to compete, then your long-term survival rate looks very, very thin.”

Stack said talent development must be a top priority, and the workforce deficits that exist impact all businesses, including SRC. He said change starts with education, training and providing skills required for successful careers.

“I can’t grow anymore unless I can figure out how to create the experience, the education, the skill sets, the business literacy skill sets to be able to grow,” he said.

Stack said there needs to be higher participation in the education and training programs that exist, so workers have the skills needed to pivot as markets shift.

“I’m not trying to point the finger at anyone here, I’m just saying wake up,” he said.

Stack said the low cost of doing business in Missouri should help drive economic growth and attract business and industry.

“That should be a major strength,” he said. “That should be a calling card.”

The only state Missouri was lower than in workforce was New York. For quality of life, it was ahead of Georgia, Indiana, Louisiana, Tennessee, Texas, and Utah.

Allison Cash, executive director of Leaders for Ozark Region Evolvement, or LORE, said the CNBC rankings should be viewed as a catalyst for action rather than a discouragement.

“Competitiveness today is about far more than the cost of doing business,” she said, in an email. “It’s about whether talented people see a future in our region.”

Cash said the rankings show that the Missouri Ozarks have many of the ingredients needed to compete.

“We have innovative employers, expanding workforce training, strong educational institutions, outstanding healthcare, entrepreneurial leadership, and an exceptional quality of life,” Cash said. “The opportunity now is to connect those strengths through a shared regional strategy that makes the whole greater than the sum of its parts.”

She said LORE is committed to bringing business, healthcare, education, philanthropy and local communities together to strengthen competitiveness.

Cash said success will not be based on a single initiative but “aligning around a common vision.”

On the other indicators measured by CNBC, Missouri ranked No. 38 on business friendliness but average – in the middle of the pack – on infrastructure, technology and innovation, and economy.

In publishing the report, CNBC said the categories for the annual list – started 20 years ago – are largely the same and based on factors companies consider when deciding to locate their business and where states invest to win jobs and business.

Matt Morrow, president and CEO of the Springfield Area Chamber of Commerce, said the seven indicators measured by CNBC were the right ones.

He said there is value in looking at where Missouri is ranked, especially if it spurs discussion and action, but companies often look at a specific city, county or region – but perhaps not the state as a whole – in deciding where to move or start a business.

Morrow said state policy has an impact, but southwest Missouri is better situated for business due to continued population growth and the availability of education and training options.

“Not every part of the state has an Ozarks Technical Community College,” he said.

Hal Higdon, chancellor of Ozarks Tech, said the workforce ranking was not a surprise. He said it reflected the entire state, not a specific region.

“If you could break the state apart and look at southwest Missouri versus the rest of the state on workforce readiness, I think we would stand out, and that is evidenced by the fact that we have a growing population and a growing economy,” Higdon said, in an interview. “If the rest of the state was as well run as southwest Missouri, we wouldn’t be 49th.”

Higdon said despite declining revenue, the state must find a better way to fund higher education. He said even though Ozarks Tech offers a high volume of technical and allied health programs – critical to filling high demand jobs – state funding for the college remains too low.

“We have some hope that current funding could get rearranged a little bit, but we have also been told to expect a 10% cut next year,” he said.

He said Missouri offers a lower cost of doing business, but that alone will not attract employers.

“Having worked in economic development for 30 years in three different states, it’s not the low-cost place where business and industry goes,” he said. “They go where the workforce is readily available, well trained, and the legal environment is very strong.”

Higdon said the CNBC rankings should set off “alarm bells” that change is needed.

“Whether we’re 49th or 40th is not really the point,” he said. “We know we’re not doing a good job with workforce readiness.”