An effort to boost Missouri’s tech and exporting industries has moved to the Senate, where a committee has heard testimony on a critical economic development bill.
For years, state lawmakers have been working to pass legislation that would encourage the development of data centers in Missouri. It’s an expanding industry that provides good paying jobs.
“The data center industry is a growing industry and it’s not going to go away,” said Tracy King, Missouri Chamber vice president of legislative affairs. “Globally, it’s a $100 billion industry. For Missouri’s tech industry, this is an important issue because when you have a data center locate into a state, you typically have clusters of high tech companies that tend to move into that area.”
To help entice this industry to Missouri, House Bill 1501, by Rep. Anne Zerr, a Republican from St. Charles, includes incentives for data centers as well as other proposals to help grow the state’s economy.
The bill would establish a new tax credit to help angel investors fund newly developing companies. The bill would also help Missouri companies export their products overseas and would aid in an effort to revitalize a distressed community in north St. Louis.
All of these ideas have been under consideration for years in the Missouri General Assembly. Advocates for the proposal, including the Missouri Chamber of Commerce and Industry, feel a momentum for passage this year. The bill was already approved in the Missouri House of Representatives. It awaits a vote in the Senate jobs committee.
For more information please contact Tracy King at firstname.lastname@example.org or by phone at 573-634-3511.