BusinessJuly 3, 2023
Gov. Parson cuts loan for Southeast Missouri smelter
Gov. Mike Parson has vetoed a $8.5 million set-aside for a no-interest loan for pollution controls at Magnitude 7 Metals, an aluminum smelter plant in Marston, Missouri, in New Madrid County. Parson, in a statement, said the loan violated a Missouri Constitution provision dating from the Civil War prohibiting "lending of public credit to any private person, association or corporation except under special circumstances that don't exist here."...
Gov. Mike Parson has vetoed a $8.5 million set-aside for a no-interest loan for pollution controls at Magnitude 7 Metals, an aluminum smelter plant in Marston, Missouri, in New Madrid County.
Parson, in a statement, said the loan violated a Missouri Constitution provision dating from the Civil War prohibiting "lending of public credit to any private person, association or corporation except under special circumstances that don't exist here."
Magnitude 7 opened in 2018 on the site of a former Noranda plant.
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Of note
On June 26, the Biden administration announced funding to provide "reliable and affordable" high-speed internet service to all 50 states in its "Investing in America" initiative.
Missouri was allocated $1.74 billion for broadband.
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