The midwestern state is a magnet for new investment from global companies.
Nestled in the center of North America, Missouri is positioned for a year of dynamic growth and opportunity. With several business attraction announcements in a matter of weeks at the start of 2024, the state’s vibrant business landscape is grabbing the attention of decision-makers across the world.
TAB, an international manufacturer of industrial, SLI and lithium-ion batteries, recently announced its first North American facility will be located in Liberty, Missouri. The company plans to create 50 jobs over the next five years at its new 66,700-square-foot facility.
“With a 60-year history of battery production, this establishment of our U.S. headquarters confirms our legacy as a leading global energy supplier,” said Bogomir Auprih, Chairman of the Board of TAB. “The Kansas City region is an ideal hub, offering the positive business environment we need to achieve our goals.”
The company noted the Kansas City region’s central location and strong workforce as major factors in their selection. In addition to serving as TAB USA’s headquarters, facility operations will also include industrial battery assembly, distribution and sales.
On the other side of the state, a different international company selected St. Louis for its first North American footprint. frogfish Corp., a German security company specializing in surveillance cameras and other safety products, is opening an office in St. Louis, Missouri.
“frogfish is experiencing tremendous growth globally, and expanding into the North American market will allow us to continue to scale,” said Simon Strobel, President of frogfish Corp. “As we explored locations for our new office, St. Louis quickly became the top choice. The partnership and support we’ve received from the Missouri team has been outstanding and having an office in the center of the U.S. will greatly benefit our company and our customers.”
The support and collaboration from Missouri was also evident for a major new investment from URBN in Raymore, Missouri. The lifestyle products and services company was recently joined by local, regional and state leaders to mark the commencement of operations at its new 600,000-square-foot fulfillment center for Nuuly, the company’s women’s clothing rental brand.
“Nuuly has experienced unprecedented growth and momentum, and we are excited to expand our operations to the Kansas City region to support our next phase of growth,” said David Hayne, Chief Technology Officer of URBN and President of Nuuly. “Opening our second U.S. fulfillment center will allow us to grow well into the future.”
URBN is investing $60 million in two phases of work over a five-year period and plans to create 750 jobs over the next five years.
Two days after Nuuly’s grand opening event, Americold announced plans for its first cold storage facility on the CPKC Rail Network in Missouri. The global leader in temperature-controlled logistics, real estate and value-added services is investing $127 million in the 335,000-square-foot facility in Kansas City, Missouri. The company plans to create nearly 190 new jobs in the region.
“We are excited to kick off our strategic collaboration with CPKC through our new Kansas City cold storage facility, expanding Americold’s presence in an important U.S. transportation hub,” said George Chappelle, CEO of Americold. “Combining our cold storage capabilities with CPKC’s extensive rail network enables Americold to deliver a differentiated offering to support more customers across North America. We look forward to further collaboration with CPKC to provide world-class service to more customers and strengthen the food supply chain.”
Pending local approvals, the company plans to begin construction in the first half of 2024.
Ready to assist with recruitment and training for larger projects is Missouri One Start. Its customized, new job and job retention training programs have been around for decades and are administered by program coordinators with deep experience in workforce development. To date, these programs have trained more than a million workers. Missouri One Start’s programs ensure that eligible companies in Missouri get the help they need, not only before the ribbon cutting but long after. New to the program in 2024 is the Intern and Apprentice Recruitment Act (IARA), which provides tax cuts to businesses that hire interns and apprentices.
As Missouri moves into 2024 with a resounding wave of new investment from global businesses across various industries, the world is taking note of its appeal as an expansion location. The recent influx of business attraction announcements underscores the state’s allure as a strategic business destination. With each new venture, Missouri solidifies its position as a beacon of innovation, collaboration and prosperity, setting the stage for a transformative year ahead. As companies from around the globe gravitate toward the Show-Me State, Missouri’s economic landscape shines brighter than ever, illuminating a path towards shared success and prosperity for all. T&ID
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