Reauthorizing Missouri’s vital job expansion and retention programs
Two vital economic development programs make up our state’s primary incentive tools for job expansion and retention: Missouri Works and Missouri Works Training. These government programs provide businesses with tax credits, resources and other incentives to help them grow, create jobs and offer employees the high-skill training they need.
Both programs are currently set to expire in 2019.
“These are probably 90 percent of the tools that we have in the toolbox with economic development,” said Wasson at a Senate committee hearing on Jan. 23. “There is not a single Senate district that has not had some benefit from one of these programs, or both.”
Wasson said Missouri Works brings in about a $3.59 return on every dollar invested. The program is a performance-based incentive, which means the benefits are not provided until the new or retained jobs are fulfilled, making it a safe and smart investment for the state.
And with the availability of skilled labor being a top concern of business leaders and site selectors across the state, ensuring that the Missouri Works Training program continues is also crucial.
“It involves the community colleges heavily, but at the same time there’s a piece of this that will allow the company to do in-house training,” Wasson said about this program, which offers extensive recruitment and job training resources to businesses.
The Missouri Chamber of Commerce and Industry supports continuing these important programs.
“We hear from members and prospective members of our organization looking for ways to be incentivized to stay in the state or come here to Missouri and we always direct them to Missouri Works and Missouri Works Training,” said Matt Panik, vice president of governmental affairs at the Missouri Chamber. “It is definitely the number one tool for business recruitment here in the state.”
For more information, contact Panik at email@example.com or 573.634.3511.