Economic Overview: St. Louis is emerging as one of the nation’s leading financial service centers. We’re the 3rd most concentrated market for investment advisors, just behind New York and Boston. And, during the recession-stressed years 2007 – 2012, St. Louis was the fastest growing major market for the securities industry, a fact noted by the Wall Street Journal in a December 2012 article.
The single biggest driver of our regional economy, however, and even to an extent beyond most other major metros is health care; attesting to St. Louis’ national and global role as a center for Health Science & Services.
Given our geography and infrastructure, it’s no surprise St. Louis has a tradition of leadership in transportation, distribution, and logistics. Our manufacturing is among the most technologically advanced and highest value-added nature, as home to Boeing’s Defense Space & Security business unit.
From a macro standpoint, the St. Louis regional economy largely mirrors the U.S., with industry sectors rising and falling in sync with national trends. And, like everywhere, our regional economy continues to evolve. Express Scripts, our largest public company by revenue and ranked in the Fortune 100, was founded as recently as 1986. Startups in the technology and life science fields are getting launched and funded at a rate unimaginable just a few years ago. It’s an amazing transformation to witness.
The St. Louis Economic Development Partnership, representing St. Louis City and County have a video that provides an overview of the region.
Please click here if you’re more an economist at heart and want all the statistics from Beige Books, Conference Boards, etc.