New Year holds opportunities for statewide job growth

In Missouri, we are fortunate to have a work force that is second to none in the world, great schools and higher education institutions, a low tax burden and enviable geographic and regional advantages.

More jobs, small-business support

The Department of Economic Development has played a key role in helping Gov. Matt Blunt implement one of his top priorities – helping attract and retain good, family-supporting jobs. I am pleased to report that since the governor took office in January 2005, Missourians have created more than 45,000 new jobs.

DED played a role in helping enact legislation in 2006 that will allow small businesses to join professional associations to purchase health insurance for their employees, a high expense for any business.

Also, creation of the Governor’s Advisory Council on Agricultural Science and Technology will help our state move forward in these burgeoning fields and create new economic opportunities.

Imports

For the second straight year Missouri businesses set a new export record in 2006, surpassing the 2005 record by 22 percent. Fifteen Missouri product categories each topped $100 million in export sales through the third quarter of 2006.

Missouri businesses are working diligently to get their products on the world market and the results are encouraging for the growth of our economy.

Lewis & Clark Discovery Initiative

The No. 1 priority for the DED is the implementation of Gov. Blunt’s Lewis and Clark Discovery Initiative.

This proposal allocates $335 million toward capital improvement projects at colleges and universities throughout our state and $15 million to commercialize innovative research projects under way at many of those same institutions, which will help spur the creation of high-paying jobs.

We cannot afford to miss out on the opportunity to add $7 billion and 4,880 jobs to our economy.

These jobs are projected to pay an average wage of $45,000 per year and create $2.9 billion in additional personal income and an extra $37.6 million in state general revenue.

Through the Lewis and Clark Discovery Initiative, we have the potential to build a solid economic and educational foundation for our state starting now.

We are excited about the possibilities this initiative holds for our state and look forward to working with the governor and the legislature to improve our state’s economy and enhance opportunity for all Missourians.

Greg Steinhoff is the director of the Missouri Department of Economic Development, which can be reached at www.ded.mo.gov.