YOUR BUSINESS AUTHORITY
Springfield, MO
With school back in session, papers on "What I Did On My Summer Vacation" and comments such as, "you must have grown a foot" will become a bit more common.
But what about growing by nearly one third?
One prominent Missouri entity did. Its name: Fort Leonard Wood.
Fort Wood, the U.S. Army base that has been a mainstay of the south central Missouri economy for nearly 60 years, had a close call with oblivion about five years ago, when it was on the list of military bases slated for potential closure. But instead, it picked up two new missions: homes for the chemical weapons and military police training schools.
It has been full steam ahead ever since. South central Missouri has taken on the appearance of an Old West gold rush town as the U.S. Department of Defense moves fast and furious to accommodate 7,000 new personnel at Fort Wood, Pulaski County and the cities of Waynesville, St. Robert and other area communities. The region is experiencing growth unparalleled anywhere else in the nation.
What does this mean for the region? Plenty. In addition to the 7,000 new Army personnel, thousands more civilians will be needed to work for the stores, shops and service providers for these military families not to mention the craftsmen and construction workers who will build the homes, roads and bridges they will use.
The Army will spend more than $225 million on construction at Fort Leonard Wood, and off-base construction is expected to top $130 million. South Central Missouri is expected to receive a $200 million economic boost each year.
The economic benefits, though, extend far beyond the Fort Wood entrance gates. More families means the need for more recreational opportunities, so weekend excursions to the lakes and river regions will become more commonplace. Springfield is a logical destination for shoppers, and both St. Louis and Kansas City are bound to be favorite destinations for enthusiasts of professional sports, the arts and educational opportunities.
The potential opportunities for entrepreneurs and professionals alike are substantial and cannot be ignored. Yet the greatest potential remains not in the here and now, but what it can mean for the state of Missouri in the long term, especially the Ozarks region.
First of all, new construction and the elevation of Fort Wood's role in our national security should preserve the installation's future for years to come. This means a solid economic foundation for the region, and the economic benefits that come along with it.
But perhaps more importantly, the developments that are bound to take place in the Fort Wood region will serve as a precursor of what's in store for the economic future of Missouri.
Again using the analogy of the Old West gold rush towns, such rapid growth usually accelerates the economic development of an area development that otherwise, may have taken years or even decades. And usually, this development takes on the face of the latest in technological and social innovations.
But unlike the Old West, there is no vein of gold, silver or other natural resource to run out. Instead, we are mining the human resources of knowledge, dedication and hard work. That is why we have high hopes for what Fort Leonard Wood may have in store for the Ozarks and indeed, the entire state of Missouri.
It is no secret that some of the greatest innovations in the history of mankind had roots in military research. Space travel and numerous developments in medical technology all began as military projects. And with a stable and growing military installation in the heart of Missouri, we have an excellent opportunity to attract the kind of high technology companies that will build the innovations of the next century.
The Department of Economic Development is working with U.S. Department of Defense personnel, in conjunction with the University of Missouri, to develop the nation's first business and technology park on a military installation.
This new park would be a multiple-win situation for everyone involved: it has the potential of saving the Army, and thus taxpayers, millions of dollars a year by creating state-of-the-art warehousing and industrial facilities on the military installation.
It would create hundreds, perhaps thousands, of new jobs for local residents and military spouses. And it would give businesses and military suppliers a convenient location to one of their key customers, while bringing cutting-edge technology to the Show-Me State.
It's not often that we can see a new economy emerge before our very eyes, but that is exactly what we are seeing in the Fort Wood region. While we are cognizant of the growing pains in the present, we are excited about what the future may hold for the Ozarks and its new place in the Missouri economy.
(Joseph L. Driskill is director of Missouri's Department of Economic Development.)
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