Missouri Senate Passes Scaled Back China Hub Incentives
JEFFERSON CITY, Mo. (KMOX) – The Missouri Senate Wednesday passed the omnibus economic development bill by a 26-8 vote. It now goes to the House.
The bill contained a critical provision that authorizes up to $60 million in tax credits for an air cargo hub at Lambert Airport in St. Louis.
“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.”
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 bill during debate, could be steered toward other programs provided by the Missouri Department of Economic Development – either existing programs or the retooled economic development program “Compete Missouri.” This is the likely course of the Missouri House when it takes up the bill in committee.
“It may look different than the original proposal, but there are always changes in the legislative process. In the end, we will still achieve the goal of providing the facilities needed to export Missouri agriculture and manufacturing products throughout the world,” Mehan said.
Mo. Senate Backs Scaled Back China Hub Incentives