New laws target important business growth efforts

 Two newly signed bills will help create and retain thousands of jobs in Missouri.

Senate Bill 194 extends a special tax credit intended to attract corporate headquarters to Missouri and help the state’s existing headquarters expand within Missouri. Under the bill, this tax credit will now continue until 2025. All companies that expand their headquarters in Missouri or move operations here will benefit from this bill. One known project that will benefit is Burns & McDonnell’s planned long-term expansion of their Kansas City headquarters, creating as many as 2,100 new jobs in Missouri.

House Bill 514 will help redevelop a former automotive manufacturing plant in the St. Louis region, an important regional economic development effort. The bill also enhances the city’s efforts to keep the National Geospatial-Intelligence Agency as the agency considers a possible relocation with thousands of jobs at stake.

“When we look across Missouri, there are certain major job creation opportunities that require a proactive, coordinated approach by local and state officials. These two new laws illustrate that our General Assembly is listening to our local communities and remains ready to help whenever possible,” said Daniel P. Mehan, Missouri Chamber president and CEO. “In the coming years, these bills will help attract and retain thousands of jobs in Missouri. This is the kind of progress we need as we work toward the goals outlined in our state’s long-range economic strategy, Missouri 2030: An Agenda to Lead.”

The two new laws mark another success for the 2015 General Assembly, which also passed Senate Bill 149 into law, helping entice data center investment to Missouri.

Senate Bill 194 was sponsored by Sen. Ron Richard, a Republican from Joplin. House Bill 514 was sponsored by Rep. Mike Leara, a Republican from St. Louis.

The Missouri Chamber of Commerce and Industry (www.mochamber.com) is the largest business association in Missouri. Together, with the Missouri Chamber Federation, the Missouri Chamber represents more than 40,000 employers.

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About mochamber

The Missouri Chamber of Commerce and Industry understands that the quality of life in our state depends on quality jobs for Missourians. To that end, we have one simple mission: to protect and advance Missouri business.

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