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Fri July 12, 2013
Mo. business incentives to be streamlined
Missouri's main business incentives are getting a makeover.
Gov. Jay Nixon signed legislation Thursday that consolidates four of the state's current incentives into a new program dubbed "Missouri Works."
The new program is modeled after a current set of incentives called "Quality Jobs" in that it offers tax breaks to businesses that add jobs with decent wages and health benefits.
But the new program lowers the number of jobs and the level of wages necessary to qualify for aid. It also gives greater discretion to the Department of Economic Development to determine how much money businesses should get.
The legislation also consolidates Missouri's current job-training programs. It was one of the priorities that the Democratic governor outlined earlier this year in his State of the State address to the Republican-led Legislature.