Missouri House Finds Compromise
JEFFERSON CITY - The Missouri Chamber of Commerce and Industry arrived at a breakthrough compromise with Gov. Nixon on the economic development package that has been debated over the past few weeks of Special Legislative Session.
The plan includes job retention funding, data center incentives, provisions to advance high-tech start-ups and the freight forwarder incentives tied to the international cargo hub. The compromise also contains a revised version of the "Compete Missouri" proposal. This proposal brings multiple job creation programs under one umbrella.
Daniel P. Mehan, Missouri chamber president and CEO, said the package, "streamlines Missouri's job creating tools, allowing our state to target funding toward initiatives tied to job creation and investment, with taxpayer protections. There is no doubt, this package will put Missourians to work."
The House substitute bill would retool the existing BUILD program to include incentives for freighter infrastructure, an important piece to the establishment of an air cargo hub in St. Louis. The BUILD program would allow the incentives to be offered statewide and requires levels of capital investment and job creation that must be met to qualify for funding.
Mehan said he is looking forward to House debate and working with the Senate on the final approval.