The project will bring in $34.2 million in investments. It will retain 388 jobs and create 73 new jobs over the next six years in the St. Louis area.
That question is at the center of the Missouri legislature’s decision to offer up to $1.7 billion in state tax dollars to entice Boeing to expand in Missouri.
Alabama’s offer to land Boeing’s new aircraft plant includes financial incentives that don’t exist now, the governor said Tuesday.
The House began debate Friday on the legislation authorizing as much as $1.7 billion of incentives as part of Missouri’s effort to land production of the 777X commercial airplane.
The Senate’s 23-8 vote in a special session sends the measure to the House with just a few days remaining before what Gov. Jay Nixon has said is a Tuesday deadline to submit a proposal to Boeing.
Senators approved the plan by a 43-10 vote Tuesday. The measure now moves to the House, where lawmakers were taking up a major pension overhaul.
In hopes to sweeten the deal, St. Louis area construction labor councils have committed to work around the clock and forgo overtime to help Missouri compete for and win Boeing’s next-generation commercial aircraft, the 777X.
Missouri’s bid for a Boeing assembly plant could include more than $1.7 billion of incentives over two decades if the airplane manufacturer adds thousands of jobs, according to new information about the proposal released Tuesday.
The bill approved Wednesday by a Senate economic development committee would provide a tax credit to local organizing groups equal to $5 for every ticket sold to the sporting events.
State Senators unanimously approved big changes to tax increment financing, in hopes of clamping down on use of the incentives.