St. Louis, Missouri, has long been a mainstay of the modern supply chain. A historic city, St. Louis was once the center of the country’s river trade network. It still boasts an active port today. It’s also home to many significant warehouses.
Manufacturers can store their products there before shipping them off for global distribution. There are other reasons to consider St. Louis for your supply chain business than its proximity to water.
The Importance of Choosing the Best Location to Start a Supply Chain Business
In 2021, the worldwide supply chain management market was estimated to be worth USD 18,446 million. From 2022 to 2030, it is predicted to grow at a CAGR of 10.9%. This means that now is the moment to jump into this lucrative industry and secure a good living.
However, we must pay attention to other factors that may ruin your chances of success in this industry. One of those factors is location. It’s where you choose as an essential part of your business foundation and competitive advantage, determining future profitability and overall success.
Interstate Highway System
The Interstate Highway System has significantly connected St. Louis with other cities across the country. It also helps to facilitate business operations. This is reflected in the fact that St. Louis is one of the most important transportation hubs in the nation. Many companies choose this city as their base of operations due to its easy accessibility from all parts of America.
However, there are also some downsides to being located near so much traffic congestion. Missouri State Highway Patrol officers reported 15,818 traffic accidents in 2020 alone. Because of this high number of accidents yearly, companies should ensure they’re prepared for any possible road incidents involving their employees’ or customers’ vehicles.
Businesses can prepare themselves for road safety issues by installing auto safety features such as automated braking systems. When a driver exceeds the set speed limit on their vehicle’s onboard computer system, this device automatically activates itself without downtime or interruptions. This helps minimize any adverse consequences of car crashes.
Similarly, you should speak with a personal injury lawyer to learn what steps to follow if an accident occurs in the future. This enables immediate action, such as photographing a damaged car. However, ensure that the lawyer is exclusively from St. Louis, as picking a lawyer from your home state could be highly beneficial.
A lawyer from the home state would understand the local laws and practices, allowing them to represent their client in court better. Hence, hiring a St. Louis auto accident lawyer is crucial to maximizing your chances of winning a personal injury claim.
The St. Louis region’s deepwater port is located on the Mississippi River, one of the deepest in the country. The port system in the St. Louis region is the second-largest in the United States.
It has railroads that connect to major population centers and a regional airport with international flights to Europe and Asia. This makes it easy for businesses to ship goods worldwide quickly and efficiently while remaining centrally located within America’s heartland.
Many small and mid-sized supply chain companies find St. Louis a great place to locate their business. The reason for this is the quality of the workforce in the area. The people of St. Louis have an outstanding work ethic, which makes it easy to find employees who are willing and able to work hard for you day after day.
In addition, education levels in St. Louis are very high compared to other cities across America and around the world, making it easier for your business to find highly skilled employees who can help your company succeed at its core values. No wonder many Fortune 500 and Fortune 1000 companies operate in St. Louis.
Low Cost of Living
St. Louis is a great place to start your supply chain business for another reason: the low cost of living. According to recent studies, St. Louis ranks among the ten least expensive cities in the United States.
The lower cost of living means more money for you and your employees. This extra cash can be used on various pay raises, employee bonuses, and insurance premiums. It also means that housing costs are more affordable here than elsewhere. This means that more people will be able to afford homes in St. Louis rather than being priced out by high rents or mortgages elsewhere.
Experienced Supply Chain Providers
St. Louis is home to many experienced supply chain providers, and they can be an excellent resource for new companies. The most common service these providers provide is IT support. Still, they also offer human resources services and training programs that can help your company with everything from hiring the right employees to staying compliant with regulations like GDPR.
Some of these providers are already familiar with St. Louis because they’ve been around for a while. They’re often located near other industries you might not have considered, like finance or healthcare. So if you’re looking for someone who understands the nuances of this unique city and its business culture, look no further than your local supply chain provider.
St. Louis is an excellent choice if you’re looking for a location to base your supply chain business.
- Labor is abundant in the area.
- The transportation infrastructure is top-notch.
- The cost of living is manageable and affordable.
- The city has a very low crime rate.
- It’s centrally located between major cities like Chicago, Dallas, and Kansas City, making it easy to get in touch with customers around the country without having to deal with long commutes or high gas prices.
- The city has many colleges and universities, including Washington University.
- Tax incentives are available for businesses within the city limits, making it easier for you to get started.
We have just scratched the surface of what St. Louis has to offer. We hope you’re starting to see how this city can be an excellent place for your supply chain business.