Missouri Senate Discusses Boeing Bill
JEFFERSON CITY - The Missouri Senate met Wednesday morning to discuss tax break incentive bills for Boeing. Both the House and Senate committees approved the bills last night.
The proposal passed through both committees after Governor Jay Nixon released a cost analysis of the plan on Tuesday, which includes tax breaks based on job creation.
If Boeing creates 2,000 jobs the state would give the company more than $435 million in tax break incentives over the course of 23 years. If 8,000 new jobs are created, Boeing would receive more than $1.7 billion in tax breaks.
In Nixon's report, he stated that his administration is confident in the proposed investment, because the state would receive two dollars in new tax revenue for every dollar it gives Boeing.
The Senate took a brief break Wednesday morning while a group of senators worked on the wording for financial safeguards. They will continue to discuss the bills until they reach a decision.
Boeing is searching for a location to build their new 777X commercial aircraft and is fielding offers from 15 states. Missouri officials have until Tuesday, December 10 to offer a final proposal to Boeing.