New Law Brings Incentives to Missouri Businesses

5 years 3 weeks 6 days ago Wednesday, August 28 2013 Aug 28, 2013 Wednesday, August 28, 2013 5:13:49 AM CDT August 28, 2013 in News
By: The Associated Press

JEFFERSON CITY (AP) - Gov. Jay Nixon is promoting a new law that reshapes Missouri's business incentives.

A law that takes effect Wednesday consolidates four existing incentives into a new program dubbed "Missouri Works." It offers tax breaks to businesses that add a certain number of jobs meeting minimum requirements for wages and health benefits.

In some cases, it will be easier for businesses to qualify for aid. But the new program also gives greater discretion to the Department of Economic Development to determine how much money to give businesses.

Nixon is highlighting the new law during visits Thursday to a Boeing facility in St. Louis and a Chamber of Commerce office in Springfield. The measure was part of Nixon's agenda outlined earlier this year in his State of the State address.

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