The Missouri Chamber of Commerce and Industry is supporting legislation to authorize new tax credits for capital investments, aiming to boost startups, manufacturing and business expansion.
This week, the Senate Economic and Workforce Development Committee heard testimony on SB 1443, sponsored by Sen. Jamie Burger (R-Benton).
Burger said his bill would expand the Missouri Works program by allowing the state to offer tax credits to companies that invest at least $50 million in new projects. Other factors that would be considered include the quality and size of the project, the number of new jobs that would be created and the financial stability of the company.
“The Missouri Works program is one of the state’s most important economic development tools,” Burger said. “By modifying the capital investment tax credit for large-scale projects, Missouri can better attract major private investments in equipment, facilities and infrastructure.”
Missouri Chamber Director of Government Affairs Chance Hepola said, “This is common sense legislation. We are happy to support initiatives to enhance the state’s economic climate and improve competitiveness by bringing in more investment to our rural and urban areas.”
For more information, contact Hepola at chepola@mochamber.com or call (573) 634-3511.
