MEDC 2008 Legislative Priorities

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1. Missouri Voluntary Developer Agreement Law – Codifying the existing practice of taxing districts voluntarily applying a portion of new tax revenues resulting from a project to help provide infrastructure in support of the project;

2. Small Business & Entrepreneurial Growth Act – Providing a mechanism allowing small employers that are adding employees to retain withholding tax on new employees, partially offsetting the increased costs imposed by government when employees are added (workers’ compensation, unemployment insurance, etc.) ;

3. Regional Economic Development Districts – Cleanup of language (blight, etc.)

4. Economic Development Organization Tax Credit - Allowing a tax credit for donations made to state and regional economic development organizations;

5. Investment-based Incentives – Providing tax incentives for significant infrastructure investments made by private companies to enhance retention of jobs in state and to recognize that such improvements are beneficial even though jobs are not necessarily created;

6. School District Bonding Capacity - Support effort by school districts to include properties which have received tax abatement under Chapter 100 in their assessed valuation when determining school district bonding capacity.

7. Retention Incentives – Explore retention incentives, provided objective may be established to determine whether a company’s threat to leave is sincere;

8. Innovation and Entrepreneurial Activity – Work with DED and Innovation Centers on research and development;

9. Funding for Training & Development in Rural Areas – Explore revolving loan fund or other means for funding training and development;

10. Angel Investing and Venture Capital – Explore ways to encourage angel investing and venture capital investment in Missouri, particularly when the ideas have been developed in Missouri and are at risk of being commercialized elsewhere;

11. Transportation Funding – Monitor transportation funding enhancement (tax increase) proposals in legislature and through initiative petition process;

12. SBDC Funding – MEDC considers SBDC funding a priority and will assist the SBDC with securing state funding through the appropriations process;

13. RPC Funding – MEDC supports regional planning commission funding in the appropriations process;

14. Job Training Funding – MEDC supports restoring and enhancing job training moneys that have been reduced in the appropriations process;

15. Quality Jobs Enhancement – Definition of “county average wage” prevents some counties that have high unemployment rates from using the program because average wage of those that are employed is relatively high. Explore solutions over the next several legislative sessions for presentation in future sessions to this and other issues that need to be addressed with the Quality Jobs Program;

16. Port Authority Funding – MEDC supports port authority funding;

17. Rural Empowerment Zones – Expand the application of rural empowerment zones which allow income tax abatement for new businesses locating in such zones as designated by DED;

18. Flood Plain TIF – Revisit tax increment financing prohibition in flood plains in light of amended definition of flood plains under consideration by U.S. Corps of Engineers;

19. Post-secondary Education Incentives – Develop incentives to encourage employees to seek and attain post-secondary education, possibly through incentives for employers that give time off to employees to pursue education opportunities or incentives to encourage recruitment and retention of qualified and talented employees;