Developing our communities

By Lt. Governor Joe Maxwell   

Making life better in Missouri.  Not only is this an important aim of our
state government, but it is a crucial aspect of economic development
programs.  In an economy that has taken a downturn since the rapid expansion
witnessed in the 1990's, working to provide opportunities for economic
growth has become even more important.  By working to create jobs and
support communities, the state is making each and every community a better
place to live. 

The importance of developing our communities and state is demonstrated
through the functions of the Department of Economic Development.  Covering
issues from housing and building projects to supporting Missouri's tourism
industry, the programs and commissions of the department work to continually
improve our state.  As lieutenant governor I have the opportunity and
responsibility to serve on many of these commissions, working to provide
communities and citizens with a greater quality of life.

Assisting with infrastructure and economic development projects in
Missouri that have a high probability of success, but are not feasible
without assistance, is the challenge of the Missouri Development Finance
Board.  Through the use of a variety of tax credits, bonds, and loans, this
commission is able to assist companies and communities in the development of
local industry and other improvements.  These projects are currently taking
place throughout the state, helping to bring new corporations to Missouri
and expand those currently in existence.  

The Missouri Development Finance Board, recently approved a
preliminary resolution for the General Mills plant in Hannibal to receive
BUILD tax credits for expansion.  This expansion will create an additional
140 jobs at this plant over the next three years, which is an economic
impact of approximately $3.1 million, with additional jobs being created in
following years.  This project will also help the local economy during the
initial construction period, as thirty temporary jobs will be needed to
complete the expansion.  Through providing assistance from the Missouri
Finance Development Board, we are working to secure that these new jobs will
be created in Missouri instead of another state.  

Working as a member of the Missouri Development Finance Board has
provided me with the opportunity to help Missouri's communities striving to
grow and develop.  We have worked to bring corporations into cities both
large and small, increasing jobs and having a positive impact on the
community. The efforts of the Missouri Development Finance Board
demonstrates how our government works to help the citizens of the state and
make Missouri and its communities a better place to live.