Show-Me State Times

On June 28, Gov. Mike Parson signed a roughly $50.5 billion budget that funds key business priorities backed by the Missouri Chamber of Commerce and Industry. These priorities include the expansion of Interstate 44, building and retaining a skilled workforce, and onshoring high-tech manufacturing industries crucial to national security.

“This year’s budget bills have a variety of transformational investments that will move Missouri forward in the global competition for jobs,” said Kara Corches, vice president of governmental affairs for the Missouri Chamber. “Gov. Parson’s action on these bills demonstrates his continued commitment to strengthening Missouri’s economy through investments in infrastructure, workforce, and technology.”

Missouri's central location has long been an advantage. The budget includes a $577.5 million investment to expand I-44, further positioning the state as a national and global logistics leader. This infrastructure improvement is vital to the global supply chain for many industries.

The governor's action also enables employers to access funding to help their workers earn new skills. The Department of Economic Development budget includes $3 million for the upskill credential program, designed to support employees who earn short-term certificates or credentials in vital areas for Missouri’s economy such as cybersecurity, welding, HVAC repair, nursing, and manufacturing technology.

Additionally, the budget allocates $15 million to attract more high-tech manufacturing to Missouri, specifically focusing on semiconductors and active pharmaceutical ingredients (APIs).

“The reliance on overseas supply chains for semiconductors and active pharmaceutical products, including their contributing critical minerals, is a national security risk. We are heartened to see investments to onshore these vital industries,” Corches said. “Together, these budget bills will spur economic growth and improve the lives of Missourians for decades to come.”

Other pro-business highlights include funding for Children’s Mercy's efforts to address pediatric mental health challenges; support for The Alliance for Healthcare Education in training healthcare professionals in the Springfield region; and money to expand State Technical College of Missouri’s heavy equipment operations and management program.