Missouri Business Headlines

Investing in manufacturing—Bill would expand successful program

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The 2010 Manufacturing Jobs Act helped Missouri retain jobs and grow our automotive industry.

Now, Missouri lawmakers are considering opening the program to all manufacturers.

Rep. Nick King, a Republican from Liberty, is proposing the Manufacturing Infrastructure Investment Act. The bill would incentivize manufacturers to make capital investments in Missouri by allowing them to retain up to 100 percent of their withholding taxes for up to 10 years.

“This is fundamentally a job retention bill, but it also helps to foster an environment of growth across the entire manufacturing sector,” said Rep. King as he presented his House Bill 1389 to the House Committee on Economic Development and Business Attraction.

A similar bill passed the House of Representatives last year and Rep. King hopes it can get even farther this year.

The Missouri Chamber of Commerce and Industry supports this proposal.

“We have seen tremendous growth in the automotive industry and we would like to see that in other areas in manufacturing,” said Tracy King, vice president of governmental affairs.

For more information, contact King at tking@mochamber.com or by phone at 573.634.3511.

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