Doing business in Joplin is ideal for quite a few reasons, from demographics to the local government. In fact, Joplin, Missouri was recently ranked #145 on Forbes list of best small places for businesses and careers. That’s because Joplin came in at #139 in job growth, #110 in education, and #91 in cost of doing business.
In case you didn’t know, here are ten reasons why it’s great to be a business - big or small - in Joplin, Missouri.
1. Economic Growth
Business is currently growing in Joplin, with more and more successful companies making money year after year. Job growth in Joplin averages 1.1% per year, with an average household income growth of 2.3% per year. Joplin’s economy is growing strong, and businesses are coming along for the ride.
2. Loyal Consumers
The great thing about Joplin is that it’s a loyal, tight knit community. Once you earn the trust of customers and consumers in Joplin, they turn out to be quite loyal. Joplin is part of the “Show Me State,” so it’s up to businesses to show consumers why they deserve business. On the flip side, once you prove to the people of Joplin that you deserve their business, they won’t forget it.
3. Colleges & Universities
Joplin’s high ranking in education on Forbes’ list reflects its vibrant university ecosystem that contributes to a dynamic local economy. Joplin is home to Missouri Southern State University, Ozark Christian College, and numerous technical schools like Franklin Technology Center, WTI, and Vatterott College.
4. Historic Downtown
Several of Joplin’s downtown buildings have been listed on the National Register of Historic Places. Joplin’s historic downtown buildings and architecture draw people out, and is overall a great place to own and run a business.
5. Growing Population
As Joplin’s economy has grown, so has its population. This is nothing but a plus for businesses operating in Joplin, as the town has grown to over 50,000 people - that’s a ten percent increase since 2010. Household income is also growing at 2.3%, with the median home price increasing at 2.8%,
6. Transportation Routes
Joplin is central to many transportation routes across the Four State Region. Located 140 miles south of Kansas City, and 200 miles north of Oklahoma City, Joplin sits at the junction of Interstate 44, and is located alongside history Route 66. Joplin’s position as a major transportation thoroughfare brings plenty of traffic and commerce that benefits locally based businesses.
7. Geographic Business Hub
Joplin’s hub status extends beyond transportation, as the city acts as a business center for the Four State Region. Joplin attracts thousands of daily workers and visitors who frequent local businesses for eating, shopping, and entertainment. With a daytime population of around 250,000, Joplin is the largest city within 65 miles. The presence of hospitals such as Freeman and Mercy Hospitals also make it a significant regional medical hub.
8. Great Labor Market
Unemployment is almost always a great barometer for the health and vibrancy of a city or town. In Joplin, unemployment sits at around 3.8%, which is below both the national and Missouri State averages. Moreover, Joplin enjoys a strong, skilled labor force, with 62% of the population having at least some college education or experience. Low unemployment, combined with a dynamic labor force, make Joplin’s labor market highly favorable for small and medium sized businesses.
9. Pro-business Local Government
For any city to be favorable to business, there needs to be some level of cooperation and partnership with local government officials and entities. Both business people and legislators from the Joplin area are helping to make the entire state more business friendly, and organizations like the Joplin Area Chamber of Commerce are committed to making Joplin business friendly environment.
10. Low Cost of Doing Business
Coming in the top 100 on Forbes’ list in terms of cost of doing business says volumes about the affordability of setting up shop in Joplin. In addition, Joplin’s housing cost is more than 10% below the national average, giving business owners relief on their housing costs as well.
If you were previously on the fence about whether Joplin, Missouri was a great place for small businesses, odds are you’ve come around. With a dynamic workforce, growing population, and geographic positioning, it’s certainly a great time to be in business in Joplin.