Nixon Cools on More Tax Breaks for McKee

Kevin Killeen

ST. LOUIS–(KMOX)– Missouri Governor Nixon signals he’s against a plan to give more tax breaks to Paul McKee — the developer trying to reshape north St. Louis.

The St. Louis Business Journal is reporting that Nixon is balking at a proposal for more tax credits to McKee.  McKee has already been awarded $28 million in state tax credits for assembling large chunks of land in north St. Louis. 

But his ambitious project to create job centers, new office and retail in north St. Louis has been stalled for over a year in court challenges.  A plan to remove a five-year limit on credits given for interest costs that McKee is incurring was penciled into the economic development bill lawmakers will take up in September’s special session.

Nixon is quoted as saying now is not the time for economic incentives that don’t create jobs fast.  

“Economic incentives must be focused on efficiently creating jobs and moving our economy forward,” Nixon wrote lawmakers. “Expanding the land assemblage program at this time does not meet this standard.”

Copyright KMOX

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS St. Louis

KMOX Podcasts
As Heard On KMOX

Listen Live