Business Climate

Leading Employers

Boeing Defense Co. and Emerson Electric Co. have both been mentioned as leading companies in North County. World Wide Technology is another leading employer specializing in providing IT services to a broad range of clients. Additional employers of note in the aerospace industry are Electronics and Space Corporation, GKN Aerospace and DRS Technologies, a supplier of defense electronic systems to government and commercial markets. Mallinckrodt Pharmaceuticals., a $2.1 billion company, has located its U.S. headquarters in North County. The medical research and services sectors are further represented by Gallus Biopharmaceuticals LLC, BioMerieux, and Express Scripts Inc., which also has it’s world headquarters located in North County. A national leader in customer management services, Convergy’s is also located in North County.

Tax Rates

North County also features competitive tax rates. The corporate tax rate for the state of Missouri is 6.5 percent. The law allows for 50 percent of federal tax payments to be deducted while computing taxable income. This creates an effective corporate tax rate of 5.2 percent in the state. Personal property, real estate and sales tax rates will vary depending on local municipalities. The property tax rates range anywhere from zero to $1.27. In unincorporated St. Louis County, the base sales tax rate is 6.325 percent.

Retail and Restaurant Profile

The retail sector in North County is the third largest for employment and is supported by $762.5 million in retail spending from outside the area and spent at North County businesses. There is an additional $78.2 million spent at North County restaurants and neighborhood apparel establishments.

Population density for the area average 4.0 persons per acre while income density per acre is around $91,000 compared with only $13,679 per acre for the 16 county St. Louis metropolitan statistical area. The $49.5 million spent on groceries combined with population density in the area provides residents with excellent grocery service with an average distance of about 1.2 miles to a store.

Below is a chart depicting the sales volume as of 2012 for specific retail sub-sections at a 1 mile, 3 mile and 5 mile radius from the 63042 zip code which then encompasses the bulk of the North County area.

 

Retail

*Data provided by Public Policy Research Center at UMSL