The speech will take place at a joint session of the General Assembly in the House chamber and will be streamed live at mdn.org as well as by some local TV stations.
Nixon has emphasized his commitment on creating jobs and not raising taxes.
A package focusing on expanding job training and aiding the growth of high-tech companies and "loyal Missouri companies" is among the projects his office said will be mentioned in his address.
At the start of session earlier this month, leadership in the House and Senate pointed to the budget and ethics as priorities. Missouri faces a significant revenue shortfall this year.
Tuesday some Republican legislative leaders criticized Nixon, saying that, so far, he has kept them in the dark on how he's going to handle the state's historic revenue shortfall.
Some of the harshest criticism came from Senate Floor Leader Kevin Engler.
"I want to work with him, but I don't want to have to read press releases to get his opinion on things," Engler said.
The legislature will have the full details of the governor's budget plans when it is released to the public Wednesday night.
House Speaker Pro Tem Bryan Pratt shared that same concern.
"We're in the worst economic times in several decades," Pratt said. "Leading up to tomorrow, the governor is not communicating with the House or Senate on how he intends to cut the budget. We know the budgets are printed up; I'm just waiting to see a copy."