Mo. unveils aid effort to Ferguson businesses

Aug 29, 2014

Governor Jay Nixon
Governor Jay Nixon
Credit File photo

Missouri Governor Jay Nixon says the state and St. Louis-area economic development groups and lenders are committing up to $1 million in support to businesses affected by racial unrest that followed the shooting death of an unarmed black 18-year-old by a white police officer.

Nixon says he's designated State Treasurer Clint Zweifel to oversee the distribution of no-interest loans to Ferguson businesses harmed by looting and rioting since the August 9th death of Michael Brown.

The state's share of the support is $250,000. Nixon's announcement of that public-private effort comes as the cost of the racial unrest in the largely black suburb with a predominantly white police force is beginning to trickle in.

St. Louis County's chief operating officer estimates that total cost could reach as high as $6 million.