Special Session Likely to Focus on Economic Growth

8 years 2 months 2 weeks ago Tuesday, August 02 2011 Aug 2, 2011 Tuesday, August 02, 2011 1:08:00 PM CDT August 02, 2011 in News
By: Kylie McGivern
loading

JEFFERSON CITY - Missouri lawmakers say boosting the state's economy will likely be the center focus of a special session next month. All, in an effort to generate job growth.

State Representative and Economic Development Vice Chairman Caleb Jones said the economic development and tax reform bill would generate $1.5 billion in net savings. This would be from reining in tax programs that are underperforming, and reallocating that money to benefit a greater portion of the state.

"Now, more than ever, the biggest issue that is facing Missouri families is economic development, and 'How we are going to keep our jobs here in Missouri?' 'How are we going to attract more jobs?' And with 9 percent unemployment here in the state, it's questioning everyone and every job out there and making sure we're doing the best for the state of Missouri," Jones said. 

One suggestion included in the bill involved providing tax incentives to the St. Louis Lambert International Airport. "Aerotropolis," is meant to transform the airport into a hub for international trade. The program is about $400 million in tax credits, Schaefer explained. For the most part, the money would be used for refrigerated warehousing. 

"You could have commodities that have to be refrigerated come in, have a place to be stored before they are shipped out or vice versa," Shaefer said, therefore opening up new trade possibilities. 

But not everyone is satisfied with where the tax credits would come from...

"The more controversial issue in the proposal of the bill is to create those tax credits by eliminating existing tax credits... We need to be very, very cautious when looking at eliminating that credit, which has proven itself to be successful, to pay for a project that is somewhat speculative," Schaefer said. 

Another part of the bill proposes a Missouri Science and Innovation Reinvestment Act (MOSIRA), which Schaefer said would expand the biotech industry. 

"There are several of us from Mid-Missouri who are working very hard to convince the governor that it would be good to include the expansion of the Callaway plant in the special call... We are going to be at a competitive disadvantage in the state of Missouri for manufacturing or any other entity that uses a lot of electricity, all the way down to residential by this additional tax. So if we can expand our capacity from nuclear, that is not subject to the tax," Shaefer said. 

He continued, "In the short term, it's roughly a $7 billion to $8 billion construction project over about seven years. At its peak, that's about 4,000 construction jobs. So if the point of the special session is economic development, there is no bigger economic development proposal in this state, than the expansion of the nuclear plant."

Until Governor Jay Nixon calls the special session, it is unclear how much each issue will be discussed, and what new proposals will be up for negotiation. 

More News

Grid
List
COLUMBIA - The Boone County Democratic Party will host an event on Wednesday night to look for future candidates. ... More >>
1 hour ago Wednesday, October 23 2019 Oct 23, 2019 Wednesday, October 23, 2019 3:41:00 AM CDT October 23, 2019 in News
COLUMBIA - After a local church came under fire for a sermon some felt was transphobic, one local bookstore is... More >>
1 hour ago Wednesday, October 23 2019 Oct 23, 2019 Wednesday, October 23, 2019 3:32:00 AM CDT October 23, 2019 in News
JEFFERSON CITY - The Cole County Sheriff's Department said Tuesday it used pepper spray at a Lincoln University Homecoming Concert... More >>
8 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 8:23:00 PM CDT October 22, 2019 in News
FRANKLIN COUNTY - Missouri State Highway Patrol troopers found a kangaroo Monday night who escaped from his home. Troop... More >>
9 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 7:53:00 PM CDT October 22, 2019 in News
MILLER COUNTY — Neighbors in Eldon are angry that they're finding styrofoam waste in their yards. Multiple properties... More >>
9 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 7:34:00 PM CDT October 22, 2019 in News
SEDALIA - The Sedalia Police Department reported a 17-year-old missing Monday night. Marie McDonald was last seen on Oct.... More >>
9 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 7:27:00 PM CDT October 22, 2019 in News
JEFFERSON CITY – Several mid-Missouri nonprofit organizations said they are experiencing “donor fatigue” after the destruction of the May tornado.... More >>
9 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 7:12:00 PM CDT October 22, 2019 in News
KEYTESVILLE - A judge in Chariton County found Tuesday there is probable cause to send James Pleasant’s case to trail.... More >>
11 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 5:13:00 PM CDT October 22, 2019 in News
KINGSTON, Mo. (AP) — A Missouri prosecutor and sheriff will give an update Wednesday into the disappearance of two Wisconsin... More >>
12 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 4:53:00 PM CDT October 22, 2019 in News
COLUMBIA - The Boone County Commission approved Tuesday morning a budget amendment for additional and/or replacement outdoor warning sirens. ... More >>
13 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 3:18:00 PM CDT October 22, 2019 in News
COLUMBIA - A judge sentenced a former coach who worked at school districts in Fulton and Ashland to three years... More >>
13 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 3:15:00 PM CDT October 22, 2019 in News
COLUMBIA -The Columbia Mall has three big projects on its radar including Dillard's Men's, a Hilton Hotel and Level Up... More >>
14 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 2:42:00 PM CDT October 22, 2019 in News
REPUBLIC, Mo. (AP) — A Missouri man has busted the state records for the heaviest and second-heaviest pumpkins. KMBC-TV... More >>
16 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 12:20:00 PM CDT October 22, 2019 in News
COLUMBIA - The legend of "Mad" Max Scherzer still seems to drift through Taylor Stadium. "A lot of people... More >>
16 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 12:10:00 PM CDT October 22, 2019 in News
ATLANTA (AP) — Former President Jimmy Carter is in the hospital again after falling and fracturing his pelvis Monday... More >>
22 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 6:54:00 AM CDT October 22, 2019 in News
COLUMBIA - The City of Columbia approved an increase in funding for Job Point's affordable houses on Monday. Job... More >>
23 hours ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 5:46:00 AM CDT October 22, 2019 in Top Stories
(CNN) -- Four attorneys general announced a proposed framework for a global settlement that could resolve lawsuits against five companies... More >>
1 day ago Tuesday, October 22 2019 Oct 22, 2019 Tuesday, October 22, 2019 4:16:38 AM CDT October 22, 2019 in News
COLUMBIA - Tiger fans, the Border War is back. Missouri and Kansas have agreed to play... More >>
1 day ago Monday, October 21 2019 Oct 21, 2019 Monday, October 21, 2019 8:28:00 PM CDT October 21, 2019 in News
Columbia, MO
Broken Clouds 42°
5am 43°
6am 43°
7am 45°
8am 47°