Missouri will push development of eight key industries

BYLINE: By Rachel Melcer ST. LOUIS POST-DISPATCH

The Missouri Department of Economic Development is expanding its staff and teaming with business leaders to find ways of helping eight key industries to grow.

The state aims to attract out-of-town companies, and bolster local ones, in these sectors: life sciences, agribusiness, energy, defense and homeland security, transportation and logistics, information technology, automotive and financial services.

Choosing the industries "wasn't that complicated. It was, quite simply, about looking at Missouri and realizing we're strong - and have the ability to be stronger - in each one," said Mike Mills, deputy director of economic development.

His department is hiring eight specialists to delve into the opportunities and challenges facing each sector. They will help develop and implement strategic plans, including policy and funding initiatives, Mills said.

The specialists' salaries - in the range of $30,000 to $50,000 apiece - initially were to have been funded by the Hawthorn Foundation, a nonprofit that solicits donations from Missouri industry, chambers of commerce, professional associations and universities to support state economic development.

Instead, the $2.5 million budgeted for the program will come from a special state fund created in 2005 as a means to promote the benefits of doing business in Missouri, Mills said.

The Hawthorn Foundation will contribute business expertise to the effort by convening councils of eight to 15 leaders in each industry to brainstorm ideas and help the specialists create their strategic plans.

"We want to open up their minds and figure out how to make Missouri the top place in the nation, or even in the world, for these industries to operate," Mills said.

He warned that the results will be constrained by limited resources and the legislative process. "But we've got to have new, innovative ideas to move forward."