Financial Services Leadership

Missouri is a leader in financial services with more than 125,000 people, or nearly 5 percent of the workforce, employed in occupations related to financial services. We are home to the second highest concentration of financial securities brokerage firms among major U.S. metros, and we are a global leader in the reinsur-ance industry.

Financial Services in Missouri

ONE OF THE BEST

TRACK RECORDS

IN THE COUNTRY

FOR FISCALRESPONSIBILITY

ONE OF THE BEST

TRACK RECORDS

IN THE COUNTRY

FOR FISCAL

RESPONSIBILITY

Missouri’s 50+ years of AAA bond ratings are represen-tative of our solid financial acumen and stable financial foundations. We are home to Edward Jones, Jack Henry & Associates, H&R Block, Wells Fargo Advisors, American Century Investments, RGA, CitiMortgage, DST Systems, MasterCard’s global operations center, and several other financial services leaders. Missouri is the only state to house two Federal Reserve Banks. Missouri also has depth of talent in financial services, with nearly 40 colleges and universities offering bachelor’s degrees or higher in Finance, Financial Management and Accounting.

In Missouri, it just adds up.

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Missouri’s Financial Services Companies

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15

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1076

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Missouri's largest financial services companies by employment

Major financial services companies

Kansas City

Warrensburg

Columbia

Rolla

Hannibal

West Plains

Cape Girardeau

Farmington

St. Louis

Fort Leonard Wood

Maryville

St. Joseph

Lebanon

Moberly

Kirksville

Mexico

Kennett

Sikeston

Joplin

Sedalia

Marshall!(

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Joplin

14 15

91

32

5 8

10 11

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29

35

70

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49

55

57

64

72

Missouri’s central location allows companies to stretch their workdays to service customers on both coasts. Travel across North America is simple, with more than 70 nonstop destinations from Missouri’s airports.

Missouri is within 600 miles of 50 percent of U.S. households, including those in seven of the nation’s fastest growing metros: Atlanta, Austin, Dallas, Denver, Houston, Minneapolis, Nashville and San Antonio (Census Bureau, 2018).

Missouri’s Central Location

Airport

600 mile radius

1,200 mile radius

HoustonSan AntonioAustin

Dallas

Denver

Minneapolis

DetroitChicago

Indianapolis Columbus

Memphis

Oklahoma CityAtlanta

Nashville Charlotte

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Missouri’s Financial Services Companies

Major Missouri Financial Services Companies

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Major Missouri Insurance Companies

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* headquartered in Missouri

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Major Missouri Accounting Firms

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Federal reserve banks

* headquartered in Missouri

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Cenlar FSB, a financial services company that specializ-es in home loans, expanded with plans to add 500 jobs in O’Fallon, Missouri. The company is planning to take over the mortgage servicing operations of Citigroup as a result of a shift in focus by Citigroup.

Chase Card Services, a financial services company, announced plans to expand its workforce in Springfield, Missouri. The company will celebrate its 20th anniversa-ry in Springfield by adding 300 new jobs that will focus largely on customer service for credit card owners.

DST announced plans to expand in Kansas City in 2017, creating 415 new jobs. DST is a leading global technol-ogy, strategic advisory, and operations outsourcing company operating in the financial and healthcare sectors.

First Mortgage Solutions, LLC expanded and created 17 new jobs in the Kansas City region.

Mid-Missouri Bank broke ground on a new $4 million headquarters in Springfield, Missouri.

Multipli Credit Union expanded with a new headquar-ters in Springfield, Missouri.

PennyMac Financial Services, Inc. expanded recently, creating 155 new jobs in St. Louis, Missouri.

Safety National Casualty Corporation, a leading specialty insurance and reinsurance provider, recently began construction on its new corporate headquarters in Maryland Heights. The 145,000 sq. ft. expansion will house the company’s learning and operations func-tions, which will include new offices, workstations and meeting space in addition to a professional develop-ment center.

Spring Venture Group, a direct-to-consumer distribu-tor of Medicare supplement insurance, continued to grow in Kansas City, Missouri. The new 210,000 sq. ft. headquarters is home to the more than 500 current Spring Venture employees, and the company expects to add another 1,000 employees in the coming years.

Recent Financial Services Expansions And Investment

Square Inc., a leading financial services company lo-cated in the Cortex Innovation Community in St. Louis, Missouri, recently doubled its footprint and created an additional 300+ new jobs.

SwipeSum relocated its headquarters to St. Louis, Missouri, in early 2018, and expanded into Kansas City, Missouri, in 2019. The combined expansions created 90 new jobs in Missouri.

TrialCard, a health innovation company specializing in helping pharmaceutical manufacturers with distribu-tion, payment and patient-support services, expanded in Kansas City, Missouri. The expansion created 225 new jobs in Missouri.

Twain Financial Partners expanded in St. Louis, Missouri, creating 25 new jobs.

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Today, more than 125,000, or nearly 5 percent, of workers in Missouri are employed in core occupations relevant to the financial services industry. More than 12,000 licensed CPAs and more than 1,000 registered members of the CFA (Chartered Financial Analyst) Institute.

Nearly 40 Missouri colleges and universities offer bachelor’s degrees or higher degrees in Finance or Accounting. This well-educated population provides an easily trainable labor pool. Missouri also has a higher high school graduation rate (88.3 percent) than the national average (Education Week, 2017).

Financial Services Talent

Workforce, all industriesSource: Bureau of Labor Statistics, 2018

Workforce, financial activitiesSource: Bureau of Labor Statistics, 2018

NE1,020,197

NE66,526

IA1,686,840

IA109,288

IL6,469,668

IL374,998

MO3,052,386

MO164,344

KS1,482,220

KS73,904

KY2,061,622

KY94,514

TN3,244,921

TN152,832

AK1,351,496

AK50,779

OK1,841,872

OK77,724

University of Missouri in Columbia

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Avila University (Kansas City): BS in Finance, BS in AccountingCentral Methodist University (Fayette): BS in Finance, BS in AccountingCollege of the Ozarks (Point Lookout): BS in AccountingColumbia College: BS in Finance, BS in AccountingCulver-Stockton College (Canton): BS in Finance, BS in AccountingDeVry University’s Keller Graduate School of Management-Missouri (St. Louis): BS and MS in AccountingDrury University (Springfield): BS in Finance, BS in AccountingEvangel University (Springfield): BS in Finance, BS in AccountingFontbonne University (St. Louis): BS and MS in AccountingHannibal-LaGrange University: BS in AccountingHarris-Stowe State University (St. Louis): BS in AccountingLincoln University (Jefferson City): BS, BA in AccountingLindenwood University (St. Charles): BS and MS in Finance, BS and MS in AccountingMaryville University of Saint Louis: BS in Finance, BS in AccountingMissouri Baptist University (St. Louis): BS in AccountingMissouri Southern State University (Joplin): MS in AccountingMissouri State University-Springfield: BS in Finance, BS and MS in AccountingMissouri Valley College (Marshall): BS in Finance, BS in AccountingMissouri Western State University (St. Joseph): BS in Finance, BS in AccountingNational American University-Independence: BS in AccountingNational American University-Lee’s Summit: BS in Finance, BS in Accounting

National American University-Weldon Spring: BS in AccountingNorthwest Missouri State University (Maryville): BS in Finance, BS in AccountingPark University (Parkville): BS in Finance, BS in AccountingPurdue University Global (St. Louis): BS, MS in Finance and AccountingSaint Louis University-Main Campus: MS in AccountingSoutheast Missouri State University (Cape Girardeau): BS in Finance, BS and MS in AccountingSouthwest Baptist University (Bolivar): BS in Finance, BS in AccountingTruman State University (Kirksville): BS and MS in AccountingUniversity of Central Missouri (Warrensburg): BS in Finance, BS and MS in AccountingUniversity of Missouri-Columbia: BS, MS and PhD in AccountingUniversity of Missouri-Kansas City: MS in Finance, BS and MS in AccountingUniversity of Missouri-St Louis: BS and MS in AccountingWashington University in St Louis: BS and MS in Finance, BS and MS in AccountingWebster University (St. Louis): BS and MS in Finance, BS and MS in AccountingWestminster College (Fulton): BS in AccountingWilliam Jewell College (Liberty): BS in AccountingWilliam Woods University (Fulton): BS in Accounting

Schools Offering Financial or Accounting Degree Programs

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Occupations for Financial Services

Code Occupation Title Employment Hourly Median Wage

Hourly Mean Wage

Annual Mean Wage

00-0000 All Occupations 2,804,780 $17.33 $22.33 $46,460

11-3031 Financial Managers 7,630 $58.59 $65.63 $136,520

13-0000 Business and Financial Operations Occupations 138,940 $29.94 $33.25 $69,160

13-1031 Claims Adjusters, Examiners, and Investigators 7,250 $31.40 $31.89 $66,340

13-1041 Compliance Officers 5,200 $28.11 $29.89 $62,180

13-1051 Cost Estimators 4,630 $30.56 $32.51 $67,620

13-1071 Human Resources Specialists 12,020 $26.78 $30.19 $62,790

13-1075 Labor Relations Specialists 1,600 $28.43 $26.56 $55,240

13-1081 Logisticians 3,170 $32.93 $36.80 $76,540

13-1111 Management Analysts 7,140 $36.65 $39.09 $81,300

13-1141 Compensation, Benefits, and Job Analysis Specialists 1,510 $28.32 $30.83 $64,120

13-1151 Training and Development Specialists 5,460 $27.13 $29.43 $61,210

13-1161 Market Research Analysts and Marketing Specialists 9,920 $27.27 $31.43 $65,360

13-1199 Business Operations Specialists, All Other 14,260 $32.69 $35.34 $73,500

13-2011 Accountants and Auditors 25,090 $30.60 $33.77 $70,240

13-2021 Appraisers and Assessors of Real Estate 1,350 $24.44 $26.54 $55,190

13-2031 Budget Analysts 690 $30.71 $33.28 $69,220

13-2041 Credit Analysts 1,960 $30.91 $36.36 $75,620

13-2051 Financial Analysts 4,280 $39.42 $44.14 $91,800

13-2052 Personal Financial Advisors 5,050 $30.29 $41.27 $85,830

13-2053 Insurance Underwriters 2,320 $31.08 $32.81 $68,250

13-2061 Financial Examiners 2,370 $31.84 $35.52 $73,870

13-2071 Credit Counselors 510 $22.17 $25.60 $53,250

13-2072 Loan Officers 7,130 $32.70 $36.80 $76,550

13-2081 Tax Examiners and Collectors, and Revenue Agents 1,830 $21.00 $22.88 $47,590

13-2082 Tax Preparers 990 $17.79 $19.46 $40,480

13-2099 Financial Specialists, All Other 2,050 $33.45 $35.60 $74,050

Source: BLS, 2018

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Quality of Life

91 state parks and historic sites covering nearly 160,000 acres

Two World Championship baseball teams and the 2019 Stanley Cup champions St. Louis Blues

More than 1,100 miles of lake coastline, including the popular Lake of the Ozarks

Nationally recognized symphonies, historic formal gardens, renowned art galleries, and live theater across the state

Numerous wine trails, home of Anheuser-Busch, and a growing craft beer industry

Branson, the “Live Music Capital of the World,” welcomes millions of visitors every year

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Missouri provides you with a solid, cost-competitive, and empowering business foundation to build your company. In Missouri, taxes and business costs don’t eat up all of your company’s profits.

Income Tax AllocationAn important tax advantage for Missouri businesses is the amount of income considered taxable as only income earned in Missouri is taxed. And, in 2020, Missouri’s corporate income tax rate will drop to 4 percent, making us one of the best states in the U.S.

In addition, it is important to note that Missouri has not adopted worldwide or nationwide unitary tax assess-ment in computing multinational corporate income tax liability.

Our ServicesMissouri is committed to your growth. We are ready to work with you, statewide, to make the journey from the initial site search to the day you open for business. Our goal is to work to give you reduced risk, no pain, and ef-ficient progress through our first-class support and site selection assistance. Our team is ready to work with you and provide a “concierge service” as you consider where your next expansion will be.

Benefits such as our low business and labor costs, reliable and inexpensive energy, aggressive and performance-based incentives, and a statewide com-mitment to attracting companies and investment, make Missouri a place where your company can come to grow and thrive. Whether it’s in six weeks, six months, or six years, we are an expert resource to support you when the time is right to look at Missouri.

Missouri Can Help Reduce Your Risk and Your Costs

4th

4TH BEST CORPORATE INCOME TAX INDEX IN THE U.S.

CORPORATE INCOME TAX RATE OF 4 PERCENT , THE 2ND LOWEST IN THE U.S.

EFFECTIVE JANUARY 2020

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Created September 2019Missouri Partnership is a public-private economic development organization focused on attracting new jobs and investment to the state and promoting Missouri’s business strengths. We work in partnership with the Hawthorn Foundation, the Missouri Department of Economic Development, the State of Missouri, and economic development agencies across the state. • www.missouripartnership.com

Deborah Price, VP, Business Recruitment & General Counsel314-932-3974, deborah@missouripartnership.com

Focusing mostly on domestic markets as well as South America and Israel, Deborah is generating, cultivating and closing opportunities with companies across multiple industry sectors. As General Counsel, Deborah serves as the Partnership's senior attorney. She is based in the St. Louis office.

Kylee Garretson, Director, Business Recruitment & Capacity Building314-932-3974, deborah@missouripartnership.com

Kylee actively manages business attraction projects for Missouri, provides support to the full business recruitment team, and manages Missouri’s capacity building initia-tives in communities across the state. She is based in the Kansas City office.

Subash Alias, CEO 314-725-2688, subash@missouripartnership.com

Working primarily out of the St. Louis office, Subash is the CEO and focuses on bring-ing jobs and investment to Missouri.

Dennis Pruitt, CEcD, VP, Business Development314-932-3972, dennis@missouripartnership.com

Dennis, who is based in the St. Louis office, works across all industry sectors and focuses on building relationships and connections with corporate decision makers around the globe to bring new jobs and investment into Missouri.

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