Kansas City is home to a significant concentration of companies in the financial services and insurance sectors. Many of the nation’s best-known banks, investment companies, and insurance groups have selected Kansas City, Missouri, as an ideal location for their headquarters or key operations. At the same time, new and emerging finance and insurance businesses find that Kansas City’s accessibility and affordability make it a great place to put down roots.
In fact, our city boasts an impressive legacy of homegrown successes in the finance and insurance sectors, including American Century Investments (founded in 1958), Commerce Bank (1865), H&R Block (1955), James B. Nutter & Company (1951), Kansas City Life Insurance (1895), and Waddell & Reed (1937). Kansas City, Missouri, is also home to one of the nation’s 12 Federal Reserve Banks.
Why is Kansas City, Missouri, a great location for finance and insurance companies?
Accessibility
Our central location makes it easy to visit clients, investors and employees throughout the U.S. – or bring them to you. Kansas City provides easy access by air to all U.S. financial centers and major metropolitan areas. Kansas City International Airport, which is ranked No. 1 among medium-sized airports for customer satisfaction, offers 200 daily departures by 11 major airlines, with non-stop flights to nearly 50 destinations.
Skilled workforce
Kansas City, Missouri, is at the center of a metro area with a labor force of more than 1 million, and 32% of the metro area population has a four-year degree – 5% higher than the national average. In addition, Kansas City offers a workforce rich in relevant experience and skills:
- According to the Bureau of Labor Statistics, the financial sector accounts for 7% of the workforce in metro Kansas City, a concentration that is 21% higher than the U.S. average.
- More than 10% of the labor force in Jackson County – where many finance and insurance companies are headquartered – works in the finance sector.
- Kansas City is well positioned to meet the ever-increasing demand in the finance and insurance sectors for employees with computer and technology skills. Metro-wide, the IT workforce numbers more than 34,000, and area universities and colleges produce more than 1,000 IT graduates each year.
Cost and infrastructure
- Kansas City offers lower costs than most major metro areas and is consistently ranked among most affordable major markets in which to live and operate a business.
- Affordable office space for finance and insurance businesses of all sizes is available in a variety of locations, from historic downtown buildings to office parks.
- Kansas City has a world-class telecommunications and electric infrastructure and is a point of convergence for transcontinental fiber and related communications networks.
- The Kansas City area offers an affordable electric supply, generated through a combination of traditional energy sources and sustainable resources such as wind power.
Selected finance and insurance businesses located in Kansas City, Missouri:
American Century Investments, Inc. (HQ)
Bank of America (regional HQ, operations center)
Bank Midwest (HQ)
Capital One Financial Corporation (HQ, home loan division)
Commerce Bank (HQ, including support and shared services)
DST Systems, Inc. (HQ)
Federal Reserve Bank (regional HQ)
H&R Block (HQ, including support and shared services)
James B. Nutter & Company (HQ)
Kansas City Life Insurance Company (HQ)
Lockton (HQ)
Missouri Bank & Trust Co. of Kansas City (HQ)
State Street Corporation (shared services support)
U.S. Bank (regional banking services HQ and operations center)
UMB Financial Corporation (HQ and shared services support)
Waddell & Reed (HQ and shared services)
