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Business and Industry

Columbia’s diverse and stable economy is not only fueled by the array of large employers, but also by its superior location near a number of major markets and highways. The workforce of Columbia is comprised of more than 204,000 people from nine counties in the area. Unemployment in the county is consistently below national and state average. The rates have continued to decrease in the last few years – from 5.8 percent in all of Missouri and 3.7 percent in Boone County in 2004 to 5.1 percent in Missouri and 3.3 percent in Boone County in 2007.

The area’s strong economy is aided by the significant industries of education, healthcare and insurance, with the University of Missouri-Columbia, University Hospital & Clinics and State Farm Insurance Companies, among others, on top.

Columbia hails as the home of Shelter Insurance Companies’ corporate headquarters, as well as the location of State Farm Insurance Companies’ regional office. A handful of Fortune 500 companies reside in the thriving city, including Dana Corporation, a major producer of automotive products, 3M, a leading technology company, and Quaker Oats, a prominent food manufacturer.

Above all, the University of Missouri–Columbia makes the most significant impact on both the economy of the city of Columbia and the state of Missouri. Bringing in more than 28,000 students from all over the state, country and world, Mizzou is able to provide Columbia’s businesses with a massive base of well-educated employees.

The University is important to the local and state economy through aiding in the creation of new jobs and fostering a better, more progressive economic environment for those living in Columbia, as well as the entire state of Missouri. Through its diverse schools and sundry of programs, Mizzou encompasses an abundance of resources that comprehensively assist in the area’s flourishing business sector.

Local businesses have a massive support base in the community, state and throughout the country, through several influential and accommodating organizations in Columbia. With over 1,500 businesses, industrial companies and professionals as members, the Columbia Chamber of Commerce strives to maintain a healthy business atmosphere in the city. Working closely with the Chamber in assisting established and new business in the area is Regional Economic Development, Inc. (REDI), an excellent resource on economic development. Additional helpful business resources include the City of Columbia Finance Department, the University Center for Innovation and Entrepreneurship (holding a partnership with a number of other organizations, including the Missouri Small Business and Technology Centers), the Missouri Business Portal and the Service Corps of Retired Executives.