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Change strengthened Missouri's economy

Saturday, April 05, 2008

One of the things I enjoy most about my job as Missouri’s Director of Economic Development is the opportunity it provides me to speak directly to our state’s innovative entrepreneurs, job creators and community development leaders; to listen to what they have to say about the changes that have taken place over the last three years.

In January 2005, Missouri’s economy was devastated. State government was facing a $1.1 billion budget deficit and Missouri had lost 34,000 jobs in the previous four years.

Fast forward to today where the state’s deficit has been turned into a surplus through sound fiscal management policies put in place by Gov. Matt Blunt and the creation of nearly 90,000 new jobs across Missouri.

Getting to this point was not easy. There were loud voices in Jefferson City saying only massive tax increases could reverse our state’s disastrous course, taxes that would have stifled job growth and brought hardships to working families. Fortunately, Gov. Blunt had a different vision.

He immediately went to work to enact real lawsuit and workers’ compensation reforms that leveled the playing field for job creators and were cited as reasons for many of the new jobs we’ve welcomed since. Also in his first year the governor created the Missouri Quality Jobs Act, which has helped create more than 22,000 new jobs that provide healthcare benefits for their employees. This innovative program effectively addresses two challenges facing all governments across the country – helping businesses create jobs and helping more workers receive healthcare benefits for themselves and their families.

To cultivate economic growth in Missouri’s local communities, Gov. Blunt created the Downtown Revitalization and Economic Assistance for Missouri (DREAM) initiative. The DREAM initiative helps mid-sized and small towns throughout Missouri revitalize and rebuild their downtown districts.

Missouri’s 10 inaugural DREAM communities have receive more than $200 million in total investment for housing, construction, renovation projects and infrastructure improvements. The public investment made to date is $32 million. This public investment has created an unprecedented $174 million in private investment in DREAM communities. Private investment is a key for Missouri’s DREAM communities to make the real economic changes as envisioned by the governor.

Aurora, Cape Girardeau, Caruthersville, Chillicothe, Clinton, Excelsior Springs, Hannibal, Hermann, Kennett, Kirksville, Maryville, Mexico, Neosho, Poplar Bluff, St. Joseph, Sedalia, Sikeston, Trenton, Washington, and West Plains are DREAM communities.

These positive changes have been well-received by people I have spoken with in every region of our state and with companies from other states who have relocated or expanded their presence in the Show-Me State. Our exceptional workforce, diverse economy, and state government leadership have brought about real and positive change to Missouri in a very short period of time. To learn more about the progress and programs I have mentioned, please visit our Internet site at www.ded.mo.gov. $$