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Rural jobs plan passes House committee

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An effort to attract investment in rural Missouri has passed a Missouri House committee.

The Show Me Rural Jobs Act would establish a state system to channel investment dollars toward spurring business growth in rural Missouri.

Sponsored by Rep. Craig Redmon, the bill would essentially take the state’s New Market Tax Credit program, set to expire in 2018, and retarget it toward rural areas. The bill would focus on attracting investments in sectors such as manufacturing, agriculture technology and plant sciences.

Rep. Redmon’s bill is House Bill 1927. Sen. Brian Munzlinger has a similar bill awaiting a vote in a Senate committee. His bill is Senate Bill 885.

The Missouri Chamber of Commerce and Industry has testified in support of both bills.

“As a whole, Missouri has been searching for ways to improve access to capital. We need to find ways to ensure more good business ideas can be funded in our state. However, these problems are most acute in rural communities which are disproportionally disadvantaged when it comes to having access to the kind of investments needed to grow jobs,” said Tracy King, Missouri Chamber vice president of governmental affairs. “I’d like to thank the House Select Committee on Commerce for approving this bill. We are going to continue advocating for this idea as the session continues.”

Learn more about the Show Me Rural Jobs Act:

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