With a highly qualified workforce, a nationally acclaimed startup movement, a diverse economy featuring tech, science, financial, aerospace, and mobility sectors, along with a world-class city’s educational and cultural amenities, Greater St. Louis is the intelligent choice for business.
| Population | 2.8M | |
|---|---|---|
| Regional Economy | $187.5B | 4th in the Midwest |
| Median Household Income | $68K | |
| Cost of Living Index | 87.8 | |
| Fortune 500 Companies | 6 | |
| Fortune 1000 Companies | 17 |
Kansas City has a strong economy with a mix of industries, including healthcare, finance, manufacturing, and technology. The city has a low cost of living, which can make it easier for businesses to attract and retain talent. The city and state offer several incentives and programs to support businesses, including tax breaks, workforce training programs, and grants. The city has also been recognized as one of the top cities for entrepreneurship and small business growth.
| Population | 2.2M | |
|---|---|---|
| Regional Economy | $154.3B | 8th in the Midwest |
| Median Household Income | $71.5K | |
| Cost of Living Index | 93.7 | |
| Fortune 500 Companies | 1 | |
| Fortune 1000 Companies | 5 |
Secondary real estate markets in the Midwest represent significant opportunities for retailers. Of the 21.7 million people that live in the states of Missouri, Illinois, and Kansas, over 7 million of them reside outside the metropolitan statistical areas of Chicago, St. Louis, and Kansas City.
Some of the Midwest secondary markets are significant population centers with strong economic fundamentals and growth potential, offering distinct advantages for retailers, such as lower real estate costs, less competition, and a growing customer base.
The central location of these markets, coupled with the vast transportation networks across the Midwest, make them attractive options for businesses seeking to integrate new locations into their existing distribution networks.
These secondary markets are also well known for their affordable housing costs, making them particularly appealing to young families, first-time homebuyers, and those looking to escape the high costs of living in larger cities.
We at Pace Properties have seen many of our clients leveraging the Midwest region’s strong consumer spending and demographic trends to expand into those smaller markets.
