State senator says Boeing shouldn't get Missouri tax credits

10 months 1 day 21 hours ago September 22, 2016 Sep 22, 2016 Thursday, September 22 2016 Thursday, September 22, 2016 8:51:00 PM CDT in News
By: The Associated Press

COLUMBIA (AP) — Aviation giant Boeing Co., which employs about 15,000 people in the St. Louis area, should be disqualified from receiving state tax incentives because it is doing business with a country designated as a state sponsor of terror, a Missouri state senator said this week.  

Boeing benefited from a $1.7 billion incentive package the state Legislature approved in 2013 to lure production of a new commercial airliner in the state. Two years later, the company reached a deal with the state for $229 million in tax credits over 18 years to maintain and grow employment in Missouri, the Columbia Daily Tribune reported. 

But Boeing shouldn't receive any tax credits after agreeing to sell 80 passenger jets to Iran's state-owned airline, said Sen. Eric Schmitt, a St. Louis County Republican.

Schmitt, who is running for state treasurer, spoke at Boone County Republican headquarters with former treasurer Sarah Steelman on Tuesday. He focused on the lifting of some international sanctions on Iran after the country's nuclear deal with world powers.

"I don't think any tax dollars should go to any company that does business with Iran," Schmitt said. "That would be a natural consequence of opposing the Iran deal." 

Both Boeing and European airplane manufacturer Airbus announced this week separate $25-billion deals to sell aircraft to airlines in the country, although analysts are skeptical that there is demand for so many jets or available financing. The deal would be the biggest for an American company since the 1979 Islamic Revolution and U.S. Embassy takeover.

Under Boeing's deal, Iran Air will buy 80 aircraft with a total list price of $17.6 billion, with deliveries beginning in 2017 and running until 2025. Iran Air also will lease 29 new Boeing 737s.

Boeing spokesman Marc Sklar said in a statement this week that Boeing remains in talks with Iran Air based on the memorandum of agreement reached in June.

Schmitt is running against former state Rep. Judy Baker of Columbia, the Democratic nominee, and Sean O'Toole of the Libertarian Party.

The state treasurer's office already has a policy barring investments with companies that have ties to terrorism or terrorist companies, Baker said.

"It is quite simple," she said. "I would like to keep Boeing's jobs in Missouri, and I don't think my opponent understands what the state treasurer does."

More News

Grid
List
COLUMBIA - The Missouri Department of Conservation is encouraging eclipse viewers to visit the state’s conservation areas Aug. 21 to... More >>
8 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 6:45:00 PM CDT in Eclipse Events
ST. LOUIS (AP) — Relatives of the man who died during a shootout with police al ong a Missouri interstate... More >>
10 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 5:23:14 PM CDT in News
JEFFERSON CITY (AP) — Missouri lawmakers have passed legislation to impose new regulations on abortion and give the attorney general... More >>
10 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 4:32:00 PM CDT in News
COLUMBIA - Some residents have received an email from a phony city traffic collections department, the City of Columbia Parking... More >>
10 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 4:29:00 PM CDT in News
JEFFERSON CITY - After a tragic accident that took the lives of two Jefferson City residents this past weekend people... More >>
11 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 4:06:00 PM CDT in News
COLUMBIA - COMO Connect will propose budget cuts to the city council headlined by the possible cancellation to three different... More >>
11 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 4:04:00 PM CDT in News
COLUMBIA - The University of Missouri referred a case of possible misappropriation of funds by a former staff member from... More >>
11 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 3:37:00 PM CDT in News
COLUMBIA - Summer road trips are going to be cheaper for Missouri drivers this year. According to AAA, the... More >>
12 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 3:15:00 PM CDT in News
JEFFERSON CITY (AP) — A Missouri woman has reached a settlement in a lawsuit she filed against a former neighbor... More >>
16 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 11:13:00 AM CDT in Top Stories
ST. JOSEPH, Mo. (AP) — Authorities have identified the victims of a triple shooting at a St. Joseph apartment complex... More >>
18 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 8:32:00 AM CDT in News
COLUMBIA- The Mizzou International Composers Festival began its series of concerts Monday night with a free show at Whitmore Recital... More >>
19 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 8:00:00 AM CDT in News
FLORISSANT, Mo. (AP) — Authorities say a custodian for a St. Louis suburb took photos under the skirts of female... More >>
20 hours ago July 25, 2017 Jul 25, 2017 Tuesday, July 25 2017 Tuesday, July 25, 2017 6:57:00 AM CDT in News
JEFFERSON CITY - On Monday, Mayor Carrie Tergin presented her approved budget to the city council. Tergin calls the... More >>
1 day ago July 24, 2017 Jul 24, 2017 Monday, July 24 2017 Monday, July 24, 2017 9:08:00 PM CDT in News
COLUMBIA - Columbia College has seen drastic growth in enrollment and will spend $20 million to expand its campus. Columbia... More >>
1 day ago July 24, 2017 Jul 24, 2017 Monday, July 24 2017 Monday, July 24, 2017 6:16:00 PM CDT in News
FULTON - Fulton Medical Center announced the hospital will be closing no later than September 22 and the announcement comes... More >>
1 day ago July 24, 2017 Jul 24, 2017 Monday, July 24 2017 Monday, July 24, 2017 5:13:00 PM CDT in News
ARNOLD (AP) — Investigators said a motorist who died after a shootout with police along a busy Missouri interstate had... More >>
1 day ago July 24, 2017 Jul 24, 2017 Monday, July 24 2017 Monday, July 24, 2017 4:21:00 PM CDT in News
KANSAS CITY (AP) — More than 28,000 people in the Kansas City metro area remain without power after weekend storms... More >>
1 day ago July 24, 2017 Jul 24, 2017 Monday, July 24 2017 Monday, July 24, 2017 4:17:00 PM CDT in News
JEFFERSON CITY- Democrats voiced concerns over a veto by Governor Greitens after a public hearing Monday morning. The... More >>
1 day ago July 24, 2017 Jul 24, 2017 Monday, July 24 2017 Monday, July 24, 2017 4:08:00 PM CDT in News
Columbia, MO
Broken Clouds 75°
4am 75°
5am 75°
6am 74°
7am 74°

Select a station to view its upcoming schedule:

Coming Up Next

3:00a
Mad Money
4:00a
Early Today
4:30a
KOMU 8 News Today
3:00a
Paid Program
3:30a
Paid Program
4:00a
Paid Program

Tonight's Schedule

7:00p
Little Big Shots: Forever Young
8:00p
The Carmichael Show
8:30p
The Carmichael Show
9:00p
Law & Order: Special Victims Unit
7:00p
Arrow
8:00p
Supernatural
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld