Springfield region’s success and competitive edge
The Chamber’s Community Leadership Visit focused on learning from regions experiencing rapid job growth and workforce expansion. These visits always provide valuable insights and reinforce our confidence in the Springfield region’s potential. We have a clear path to continued growth and success, driven by our strong and long-standing partnerships. The Springfield Business Development Corporation (SBDC) continues to work with cities, counties, chambers and investors all while playing a crucial role in fueling Southwest Missouri’s steady economic progress.
Job growth in the 10-county Springfield region has outperformed Missouri and the nation over the last ten years. Our population growth also is beating Missouri and U.S. averages – especially among prime working age workforce and young professionals. That is the undeniable conclusion of mountains of data and recent analysis by economist Ted Abernathy of Economic Leadership, Inc. The Chamber has been working with Economic Leadership this year to develop a new long-range strategic plan with input from 400 local stakeholders. Citing the area’s overall economic expansion, business growth and rapidly expanding talent pool, Abernathy concluded our regional economy is robust, highly successful and the envy of peer communities and regions nationally.
Of course, our community has challenges, as all do. Some express concern about a lack of inventory for industrial sites and buildings. A closer look reveals a bullish reality. Springfield and the region boast shovel-ready land and industrial buildings under construction, making it a prime location for businesses looking to expand. The market is so dynamic that available properties are quickly utilized, leading to the perception of scarcity. A perfect example is Partnership Industrial Center West, having sold over 100 acres across four sites over the past year, with two more under contract, or the privately developed industrial parks across the region in Strafford, Republic and beyond. Across the Springfield region, thousands of acres of property prime for development, much of which is ready to market.
Our office space market has demonstrated remarkable resilience post-pandemic. Unlike other regions, we enjoy strong occupancy and healthy absorption rates while local professional services firms and call centers are projecting growth. And, while some positions have been consolidated through restructuring, most local professional services firms and call centers are actively hiring as they experience healthy growth.
The Springfield region remains an attractive destination for high-quality manufacturing projects amid national uncertainty, but local businesses are optimistic. Many plan to add jobs, invest in automation and upskill their workforce. Our working age population is growing almost twice as fast as any other metro in Missouri, and twice as fast as the national average. We’re also creating new jobs here nearly twice as fast as we are adding people. That means skills and educational attainment will be keys to our long-term success, along with robust ongoing talent attraction, retention and workforce participation initiatives.
Our region’s success is fueled by a potent combination of factors. Our central location within the U.S. provides logistical advantages, while ongoing investments in infrastructure enhance our connectivity and efficiency. Coupled with a diverse industry mix, this attracts a wide range of enterprises. Our region’s legacy of collaboration and a commitment to quality of life benefits both residents and businesses. The Chamber, through the SBDC, has played a key role in fostering this collaborative spirit since 1985, uniting cities, counties and investors to drive Southwest Missouri’s economic growth.
I’m excited to welcome Jonas Arjes to the Chamber’s economic development team as our new Senior Vice President of Economic Development. Our team is committed to fostering an even greater sense of regional collaboration and shared priorities among public, private and philanthropic partners. With a competitive edge and a supportive community, we’re helping businesses thrive as we build a brighter future for the entire region.
Matt Morrow
President
Springfield Area Chamber of Commerce
