How to make Missouri more competitive for jobs

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One thing that I found interesting was that in 2024, it was the first annual decline in tech industry employment in the report's history. But that doesn't mean that tech jobs went down. Demand remains strong in non-tech industries. And so does this mean that basically tech companies are cutting back, but other sectors, basically everybody else is saying we need more tech people? That is exactly what that data means. Tech occupations actually grew approximately 12% in Missouri from 2019 to 2024, even while employment at tech companies have recently softened. In order to keep up with that demand, Missouri is going to have to fill almost 19,000 technology positions each year to meet the growth and replacement needs. So when we first started this report, it was a look at... tech industries, but tech permeates all industries, nearly all industries at this time. And so at some point, this report is just going to be called a report, not a technology report, because it impacts nearly every business in our state. Well, speaking of that, when it comes to manufacturing, and we talk about high-tech manufacturing jobs, what are the different sectors that Missouri is seeing? Because, you know, getting people back into factories is a big wish for folks across the state. What are some of the areas where we're seeing growth in that? The clearest success story in this year's report is technology manufacturing. Missouri ranked fifth in the nation for the five-year tech manufacturing job growth, and we are projected to remain among the top 10 states for future growth. Since 2011, Missouri's technology manufacturing employment growth has consistently outpaced the national trend. Missouri is a legacy manufacturing state. Our economy was built on early on, and it's really exciting to us to see this tech manufacturing now leading the way for Missouri's future economic growth. Some of those areas include electrical components, battery production, pharmaceutical manufacturing. You can point to some real powerhouses right there in St. Louis and Pfizer and Bear. and other advanced production activities are growing. Yesterday we talked with a site selector in the wake of the Panera departure, who said that more than cost to doing business, more than tax policy, given Panera moving to Massachusetts, more than lifestyle even. He said it's all about workforce. Panera, for instance, Bradcoe here, moved because of the retail tech talent that's on the East Coast for the most part. And so I'm curious in terms of hook, what does Missouri do to get that kind of tech talent to locate here?

Well, we've got a lot of things that go to our advantage in that area. We have a very low cost of living, and the wage for a technology worker goes farther in Missouri, and that's no small thing. The medium wage for a technology occupation is approximately $85,000. And when adjusted to Missouri's cost of living, a typical tech worker, That purchasing power rises to over $95,000. So, you know, imagine having that opportunity at a Pfizer, at a bear, at a Boeing. That's exciting. And hopefully our young people are taking a look at those job opportunities and choosing to stay here. We are ranked 13th nationally for the cost of living with... adjusted median technology occupation earnings. And that makes this attractive place to live because you can afford to buy a bigger house and do more things. Your paycheck's going to go further. Another thing that is exciting about Missouri in our tech workforce is that we have a more diverse. workforce than most states. We rank 14th for the percentage of women employed in technology industry. And we also have more diverse workers than nearly every other state in the Midwest. And the report does outline some strategic priorities, including expanding commercialization of university and federal research and supporting early stage startups. Karen Bushman, the executive director of the Missouri Chamber Foundation with us here on KMOX. Check out that technology 2030 report to find out more about where Missouri stands and where we're headed. Thank you so much for being with us this morning, Karen. Thank you so much. I appreciate the opportunity. Every week on the Moth podcast, real people tell their stories live on stage. I burst into tears. And I wasn't sure if I was crying because I hadn't been kissed in a really long time or if I had just never been kissed like that before. To hear fascinating, heartbreaking, and sometimes hilarious stories from astronauts, teachers, farmers, and people just like you, follow and listen to the Moth wherever you get your podcasts.