YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
As the southwest Missouri region is buoyed by optimism from 60% of businesses feeling economic growth, it is essential to focus on two foundational elements: affordable housing and infrastructure investment. These are not just supportive components but are vital to the region’s interconnected success and competitiveness.
Picture the region as a thriving forest, where each community stands as a unique tree. The roots of these trees represent local infrastructure – roads, utilities and public services. Just as trees in a forest rely on strong roots to draw nutrients and support their growth, our collective region needs solid infrastructure to foster business activities and accommodate expansion.
According to Springfield Business Journal’s 2024 Economic Growth Survey, 54% of businesses across the region plan to increase their workforce, while 38% aim to expand physically. Yet, housing affordability presents a significant challenge, impacting recruitment for 58% of business leaders. Affordable housing is seen by 76% of respondents as crucial for maintaining the southwest Missouri region’s competitive edge.
Medium-density townhomes and condos, preferred by 46% of respondents, act like the rich soil nurturing our forest floor. By providing diverse and affordable living options, these developments can attract a talented workforce, enhancing the entire region’s appeal as a desirable place to live and work.
Moreover, nearly half of the executives in the region (46%) call for improved government investment in capital infrastructure. By enhancing transportation, utilities and public spaces, we fertilize the roots of our community trees, enabling businesses to thrive with fewer logistical hurdles and greater productivity.
Small businesses, like the underbrush of our forest, play a vital role as the largest employer group, with 66% employing 50 or fewer people. Supporting these enterprises through strong infrastructure and housing policies ensures they remain integral to the region’s economic vitality.
Additionally, integrating destination retail into our growth strategies – supported by 41% of respondents – can draw more visitors, enhance local quality of life and solidify the region’s status as a dynamic economic hub.
As the southwest Missouri region moves forward, fostering robust roots and strong connections between communities is essential. Like interlinked trees forming a resilient forest, collaboration and strategic development will allow the region to surpass its potential and secure prosperity for businesses and residents alike.
