MO Senate Passes Economic Development Bill
JEFFERSON CITY - The Missori Senate passed the omnibus economic development bill by a 26-8 vote today.
This bill contains a critical provision that authorizes up to $60 million in tax credits for freight forwarders that facilitate international shipments in and out of Missouri through an air cargo hub at Lambert Airport in St. Louis.
Despite changes to the original bill, proponents of the air cargo hub are still optimistic that tax credits for warehouse development incentives, removed from the bull during debate, could be steered toward other programs provided by the Missouri Dept. of Economic Development.
"We are pleased with the action by the Missouri Senate to move the bill forward," said Daniel P. Mehan, President and CEO of the Missouri Chamber of Commerce and Industry. "This is an important step for moving this bill toward the finish line."