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Special
Edition: September 8, 2011
Missouri Senate Committee
Passes Economic Development Bills
Last night the Missouri Senate
Jobs, Economic Development and Local Government Committee,
chaired by Sen. Eric Schmitt (R-Glendale), passed two major
economic development bills with strong
support.
The RCGA was
joined by business, civic and labor organizations throughout the
state in supporting the measures, which have the opportunity to
transform Missouri's economy. RCGA's President and
CEO Dick Fleming's testimony for the landmark economic
development programs can be found here.
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Bill Sponsor Sen. Rob
Mayer (R-Dexter)
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Committee Chair Sen.
Eric Schmitt (R-Glendale)
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President Pro Tem Rob Mayer (R-Dexter)
sponsored both economic
development bills. Senate Bill 8 is a comprehensive
bill that creates several key programs including the Aerotropolis
Trade Incentive Act, the Missouri Science and
Innovation Reinvestment Act (MOSIRA), incentives for data centers, the attraction of
amateur sporting events and job retention, and Compete
Missouri. It also contains many provisions recommended by
the Governor's Tax Credit Review Commission.
Senate Bill 7 contains MOSIRA by itself in case there are any
concerns with its germaneness in the comprehensive bill.
The economic development provisions in Senate Bill 8
include:
- The
Aerotropolis Trade Incentive Act, which would
help Missouri capitalize on a unique opportunity to create an
international air cargo hub at Lambert-St. Louis International
Airport, restaging the region as a center of commerce,
transportation and distribution of goods.
- The
Missouri Science and Innovation Reinvestment Act
(MOSIRA) would provide a stable source of funding to
invest in high-technology entrepreneurial infrastructure and
foster the creation of 21st Century jobs;
- Incentives for
data storage centers would help attract major
capital investments and support highly-skilled information
technology jobs;
- Incentives for
amateur sporting events would help attract major
events like the NCAA Final Four to the state;
- New
retention benefits would help save Missouri jobs
in the face of competition from other states; and
- Compete
Missouri, which would streamline some of the state's
existing business recruitment tax credits and allow for critical
up-front funding for qualified projects.
The RCGA urges the full Senate to pass
both measures when it reconvenes next Tuesday.
The State of Missouri needs this
legislation now more than ever. We cannot wait any longer,
and we cannot afford to fail.
For more information on these important economic
development programs, please click here for a copy
of the RCGA’s briefing paper. Also, click
here for an op-ed by John Sondag, President
of AT&T Missouri, which ran last weekend in the
Kansas City Star. John is an active board member of the
RCGA, Civic Progress, and the Civic Council of Greater Kansas
City.
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