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Issue: 981 Date: 6/11/2009
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Gov. Nixon Signs Jobs Bill Into Law, Provides Key Economic Development Tools For Growth Of State And Regional Economy
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| Gov. Nixon signed House Bill 191 into law at St. Louis Community College-Forest Park on Thursday morning. He also signed the bill at the Columbia Career Center in Columbia, as well as at the offices of HNTB, an engineering and architecture firm based in Kansas City. |
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The RCGA was pleased to join Gov. Jay Nixon and leaders from the Missouri House and Senate on Thursday morning at St. Louis Community College-Forest Park, for the signing into law of House Bill 191, the statewide, bi-partisan economic development job creation bill passed by the Missouri Legislature last month. This new law takes several important steps forward in enhancing the region's and State's ability to attract and retain jobs.
One of the RCGA's primary objectives in each legislative session is to strengthen and expand proven tax credit programs. This newly-signed legislation does so by increasing the annual funding caps and modernizing the provisions of two of the State's most important job attraction and retention programs - Quality Jobs and BUILD Missouri. The new law also helps in economically disadvantaged areas, with increases in the caps on both the New Markets and Distressed Land Assemblage programs. The legislation also includes provisions which lower the burdens on small businesses, including an exemption from the State franchise tax for some 3,000 of the smaller companies.
Thanks to the leadership of both Gov. Nixon and members of both parties in the House and Senate, Missouri and the St. Louis region have become more competitive in the fierce competition for jobs and investment with other states around the country. Finally, this legislation continues the highly successful and national award-winning Missouri Historic Preservation Tax Credit Program, which is vital to the continued revitalization of St. Louis, Springfield, Kansas City and other urban areas throughout the State.
This program has been of enormous value in revitalizing the center city and smaller downtowns throughout the region. For example, in 2008, $161 million in Missouri Historic Preservation Tax Credits stimulated over $700 million in new private investment and thousands of new jobs in 337 projects throughout the State.
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