On May 22, Governor Blunt signed the mega project legislation. HB 2393 would provide the Department of Economic Development (DED) with tools they need to try to land an aircraft manufacturer deal for the Kansas City Airport area. Discussions are ongoing between DED and Canadian-based Bombardier regarding such a facility.
The mega projects legislation allows tax incentives to be issued to a company that must be repaid, the net effect of which is a low interest or no interest loan, if the company provides certain high levels of employment at high salaries and makes a certain infrastructure investment in the facility. The incentives would be repaid based on a repayment schedule finally determined by DED.
You may find additional details, including the actual text of the bill, here.
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The Missouri Economic Development Council (MEDC) is a group of more than 400 economic developers from across Missouri (www.showme.org). This blog shows vital information regarding legislation affecting economic development in Missouri.
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(C) 2007, 2008 Ray McCarty Governmental Relations, (C) 2009 Missouri Economic Development Council
(C) 2007, 2008 Ray McCarty Governmental Relations, (C) 2009 Missouri Economic Development Council
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