The Missouri Chamber of Commerce and Industry supports a tax credit package to help Missouri businesses recruit and retain engineers.
This week, the Senate Emerging Issues and Professional Registration Committee heard SB 190, sponsored by Sen. Justin Brown (R-Rolla).
Under the proposal, newly hired engineers would receive a tax credit of up to $2,500 a year for five years. Employers would be eligible for tax credits for hiring engineers or supporting employees who are seeking engineering degrees or certificates.
“We’re graduating some of the top engineers – literally – in the United States, if not the world,” Brown said. “This bill incentivizes some of those graduates to stay in the state.”
Cade Tremain, manager of governmental affairs for the Missouri Chamber, said that in 2022, over 26% of Missouri’s engineering workforce was over the age of 55, putting them at risk of retirement.
SB 190 would help ensure Missouri has the workforce to meet economic demands.
“In 2022, the turnover rate for engineers in Missouri was also 26%, which was the second lowest in our economy. So, we know that engineers in our state are staying in the field – We simply need to get them there,” Tremain said. “The Missouri Chamber strongly supports this bill because it helps retain that strong workforce in Missouri.”
According to the U.S. Bureau of Labor Statistics, engineering employment is projected to grow faster than the average for all occupations over the next decade.
Kyna Iman testified on behalf of The Boeing Company, which employs roughly 17,000 people in Missouri.
“Over half of our employees are engineers,” Iman said. “This bill is a very good retention and attraction tool for engineers in our industry.”
A companion bill, HB 204, is sponsored by Rep. Donnie Brown (R-New Madrid).
For more information, contact Tremain at ctremain@mochamber.com or call 573-634-3511.
