Missouri’s unemployment rate held steady at 6.9 percent in October, according to new data from the Missouri Department of Economic Development. That’s one full point below the national average of 7.9 percent.
Pro Food Systems Inc. is planning to add 43 jobs within the next five years at its operation in Holts Summit. The new headquarters will have three components: a breading and blending facility, a logistics service center and print companies. The company said it will invest $6 million dollars into the new headquarters.
Missouri Department of Economic Development Spokesperson John Fougere said the Department used tax credits and other incentives to encourage Pro Food Systems into expansion.
A new audit says Missouri officials have overstated the economic impact of the state's main job incentive programs.
The report released Monday by Auditor Tom Schweich focuses on the Quality Jobs program, which provides tax breaks to businesses that add jobs with decent wages and health insurance.
Schweich says the projected jobs and investment reported by the Department of Economic Development has significantly overstated the amount of jobs actually created and the amount of money actually invested by businesses to improve facilities and equipment.
The Missouri Department of Economic Development awarded state tax credits to five small business incubators on Monday. The Life Science Business Incubation Center in Columbia was awarded a $100,000 in tax credits.
The Missouri Department of Economic Development announced earlier this week that Big Brothers Big Sisters of Central Missouri has been approved for state tax credits. Big Brothers Big Sisters of Central Missouri received $102,782 in state tax credits under the Department of Economic Development’s Youth Opportunities Program.