Exceed - Regional Economic and Entrepreneurial Development

The U.S. Census Bureau’s Veteran Employment Outcomes (VEO) tool provides valuable insights into veteran earnings after transitioning out of the military. For example, the median earnings of Missouri veterans five years post-discharge were $38,330 (2008-15 cohort). The national average was higher ($44,350) but also reflects the increased cost of living in much of the U.S. Earnings gaps varied by previous military occupation. Communications and Intelligence Specialists in Missouri earned $41,270, 17% lower than the national average. However, some fields in Missouri were more competitive with U.S. wages: ·      Craftworkers, such as construction equipment operators, earned $38,740, close to the national average of $40,330. ·      Service and Supply Handlers had one of the smallest gaps, earning nearly the same as their national counterparts. Explore the Veteran Employment Outcomes tool at: https://lnkd.in/g7uMjdMS. Additionally, an EXCEED report on Attracting and Retaining Transitioning Military and Their Families highlights steps Missouri and other states have taken to attract and retain veterans and their families can be found here: (https://lnkd.in/gsQ9_PFm). For more information, contact Alan Spell or Luke Dietterle of Exceed - Regional Economic and Entrepreneurial Development. #ExtendMU #BusComEx

𝗢𝘃𝗲𝗿 𝗛𝗮𝗹𝗳 𝗼𝗳 𝗠𝗶𝘀𝘀𝗼𝘂𝗿𝗶 𝗪𝗼𝗿𝗸𝗲𝗿𝘀 𝗖𝗼𝗺𝗺𝘂𝘁𝗲 𝗢𝘂𝘁𝘀𝗶𝗱𝗲 𝗧𝗵𝗲𝗶𝗿 𝗛𝗼𝗺𝗲 𝗖𝗼𝘂𝗻𝘁𝘆 53% of Missouri payroll job commuters worked outside their home county in 2021, illustrating the importance of regional thinking in economic and workforce development – note that payroll workers exclude the self-employed. As this recent Census story highlights (https://lnkd.in/dFRRphtJ), commuting increasingly connects city centers with the countryside, benefiting both economies and blurring the line between urban and rural classifications. Among the top out-commuting counties, Clinton County (84.2%), Andrew County (84.5%), Warren County (83.8%), Dallas County (83.5%), and DeKalb County (83.6%) see a significant portion of their residents commuting outside of the county for work. As the map shows, many rural areas are becoming commuter hubs for nearby cities, highlighting the necessity of improving transportation infrastructure, regional collaboration, and economic strategies to ensure these workers have access to adequate resources and services. Counties like Clinton and Warren not only send a significant number of residents out for work but also attract commuters. This bi-directional commuting pattern reflects the growing interconnectedness of Missouri’s rural and urban economies. As city centers and the countryside grow increasingly linked, Missouri’s economic strategies should consider regional workforce and infrastructure needs. Explore the latest commuters data and visualizations at: https://lnkd.in/gt9yUQqd For more information, contact Alan Spell or Luke Dietterle of Exceed - Regional Economic and Entrepreneurial Development. hashtag #ExtendMU #BusComEx

There is still time to register for the 2024 Connecting Entrepreneurial Communities Conference! Details below.

In 2023, Missouri saw more than 90,000 business applications, a 53% increase from 2019. Online microbusinesses, a growing business segment, are capitalizing on rising demand for e-commerce products and services. In the latest Missouri Economy Indicators brief Alan Spell and Natalia Filimonova with Exceed - Regional Economic and Entrepreneurial Development discuss the latest microbusiness trends. Missouri had nearly 283,000 active microbusinesses in early 2024—roughly 5.9 microbusinesses per 100 Missouri adults; up from 5.5 in 2020. However, that figure remains below the U.S. average (8.7). Metro counties in Missouri and across the U.S. had microbusiness concentrations at least 33% higher than those in nonmetro areas. Uncover more insights into Missouri's online microbusiness landscape by reading the latest Missouri Economy Indicators brief. Find the latest Missouri Economy Indicators brief at: https://lnkd.in/gKmwjxGZ #ExtendMU #BusComEx #MissouriSBDC

Registration for the 2024 Connecting Entrepreneurial Communities conference in Fulton, MO is now open! Come hear Alan Spell and Luke Dietterle discuss the latest trends in microbusiness and hear how your community can empower entrepreneurs to find success. Register here: https://lnkd.in/gAZPsAnE. #connectingentrepreneurialcommunities #CallawayChamberofCommerce

𝗡𝗲𝘄 𝘁𝗼𝗼𝗹 𝗵𝗲𝗹𝗽𝘀 𝗲𝘅𝗽𝗹𝗼𝗿𝗲 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗺𝗼𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 How well are lower-income households climbing the economic ladder? This question can be explored through the new Opportunity Atlas, which compares the incomes of individuals born in 1978 (Gen X) and 1992 (Millennials) at age 27. Nationally, economic mobility for lower-income households improved more for children born in 1978 than for those born in 1992. Some key insights include: • Individual incomes were 4.5% higher for adults born in 1978 than those born in 1992, adjusted for inflation. • Notably, black children born in the later generation made income gains and reduced the white-black earnings gap. • The economic environment where a child was raised significantly influenced mobility: growing up in a thriving community with good job opportunities improved a child’s income prospects, even if their parents were unemployed. In Missouri, economic mobility followed similar U.S. trends but with a larger income gap. Show-Me State insights include: • Children born in 1978 to lower-income families had 7% higher individual incomes than those born in 1992. • Economic mobility varied significantly across counties, influenced by factors such as the economic environment. For example, children born in 1978 to lower-income families in nonmetro counties had 8% higher incomes at age 27 than their 1992 counterparts, compared to 5% higher for metro counties. Explore the Opportunity Atlas from the Opportunity Insights team to see changes in your community: https://lnkd.in/exn32gP For more information contact Alan Spell or Luke Dietterle of Exceed - Regional Economic and Entrepreneurial Development. #ExtendMU #BusComEx

Missouri’s 2020-23 annual population growth rate of 0.2%, typical for the Midwest, notably outpaced neighboring Illinois (-0.6%) and Kansas (0.0%) but was significantly slower than Tennessee (1.0%) and Oklahoma (0.7%). In the latest Missouri Economy Indicators brief Alan Spell and Natalia Filimonova with Exceed - Regional Economic and Entrepreneurial Development discuss the latest population trends. Nonmetro areas grew faster than metro regions from 2020-23 in contrast to the prior decade’s trend of rural population decline. Although metro areas still account for the largest number of new residents, mostly due to suburban domestic migration, nonmetro areas have been gaining population at a faster pace since 2020. Recreation-dependent counties, which had stagnated population change from 2010-20, are increasing population five times faster than the state average from 2020-23. Find the latest Missouri Economy Indicators brief at: https://lnkd.in/gKmwjxGZ #ExtendMU #BusComEx #MissouriSBDC

Registration for the 2024 Connecting Entrepreneurial Communities conference in Fulton, MO is now open! Come hear Alan Spell and Luke Dietterle of Exceed - Regional Economic and Entrepreneurial Development discuss the latest trends in microbusiness and hear how your community can empower entrepreneurs to find success. Register here: https://lnkd.in/gQqyraPh #connectingentrepreneurialcommunities #CallawayChamberofCommerce

THERE IS STILL TIME! Missouri's agricultural, food and forestry businesses are vital to the state’s economy. MU Extension’s 4-H team needs YOUR help as it works to support the talent needs of agribusinesses! Please share this voluntary survey with local businesses in your area and across the state. It’s quick, anonymous and will make a big difference. The survey will be used to enhance 4-H agribusiness career initiatives with a better understanding of workforce issues such as recruitment and retention practices, along with skills training needs. Spread the word by telling others about this survey! It’s open until early July and can be found here: https://lnkd.in/grbTsyE6

In 2023, more than 180,000 Missourians were employed in the construction sector. The demand for construction services is on the rise in Missouri, yet many contractors struggle to find qualified workers. In the latest Missouri Economy Indicators brief, Alan Spell with Exceed - Regional Economic and Entrepreneurial Development discusses the latest trends. A survey conducted by the Associated General Contractors (AGC) revealed that in 2024, the primary concerns of Missouri construction firms were rising labor costs (77%) and financing expenses (73%). The worker shortage in Missouri (70%) was the third concern, surpassing the national average (56%). Over the past five years, construction employment in Missouri has risen by 12%, outpacing Missouri's overall job growth (2.3%) and the national construction job growth rate (8%). Find the latest Missouri Economy Indicators brief at: https://lnkd.in/gbtq5SvA #BusComEx #MissouriSBDC