Jessica Machetta

ST. LOUIS (KMOX) – Gov. Jay Nixon announced Wednesday that MTC — Missouri Technology Corporation — will get more than $17 million in the fiscal year 2016 budget. He made the announcement at T-REX, a technology incubator in downtown St. Louis. T-REX is one of 65 companies that received funding from MTC.

MTC is a public-private partnership created by the Missouri General Assembly to promote entrepreneurship and foster the growth of new and emerging high-tech companies, focusing on 21st Century bio-science industries that build on two of Missouri’s major industries — agriculture and technology.

“It’s clear that by design, this working environment here at T-Rex fosters creativity and collaboration so that innovative ventures can take wing,” Nixon said. “This is … part of an ongoing effort to grow our economy and jobs in St. Louis and across our state.”

Nixon says as the state’s economy continues to improve, supporting entrepreneurship and high-tech companies will continue to be priority. Mayor Francis Slay says St. Louis has a long-standing tradition of fostering entrepreneurial endeavors, and is much more than just a feeder region for Silicon Valley.

“What you are doing within these walls and in the city of St. Louis is absolutely incredible,” Slay said. “We are getting a lot attention throughout the United States and even the world for that matter in some of the things that are happening here.”

According to T-Rex, their goal is to increase the regional economy by recruiting and nurturing start-up companies that advance technological development, encouraging creative thinking through design. The company also wants to hire skilled workers that will contribute to the economic development of St. Louis.

Nixon says Missouri is one of the top states in the country for evolving, and that the administration and legislature will continue to focus on increasing economic growth in St. Louis.

(TM and © Copyright 2015 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2015 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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