Sunday, September 18, 2011

State mulls deal-closing fund to woo jobs

By Tim Logan • > 314-340-8291

Talk to people involved in economic development in Missouri, and it won't be long before you hear this lament: "Texas can write checks to companies to get them to move there."

So can Georgia and Mississippi, Arkansas, Virginia, Florida and other states.

If a bill moving through the Legislature becomes law, Missouri, too, will be able to write those kind of checks.
Actually, not checks literally — the Missouri Constitution prohibits that. Instead, one piece of the massive jobs bill at the heart of the special session in Jefferson City would establish a new pool of tax credits that the state could offer to companies that pledge to generate jobs here. Unlike the rest of Missouri's menu of incentives, it could offer the credits upfront, before the first job has been created.

More here.

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