Lawmakers tout economic development bill

Missouri's top two legislative leaders touted a new jobs bill Tuesday that would set up a statewide enterprise zone designation that would extend tax abatements to manufacturers in areas of high unemployment bordering neighboring states.

Senate President Pro Tem Peter Kinder, R-Cape Girardeau, and House Speaker Catherine Hanaway, R-Warson Woods, signed Senate Bill 1155 at three signing ceremonies around the state including one in Scott City. The bill now goes to Gov. Bob Holden, who is expected to sign it into law.

At a news conference and signing ceremony at the Southeast Missouri Regional Port Authority office at Scott City, Kinder and Hanaway said lawmakers have delivered on a promise to provide more job opportunities.

"Our goal has been to create an environment where every Missourian who wants a job can get a job," Hanaway said.

The legislation "would put us ahead of the pack" when it comes to competing for jobs with neighboring states, Hanaway said.

Kinder said the enterprise zone provision is important because 70 percent of the population of Missouri lives within 30 miles of the state's borders.

Kinder said the bill includes much of Holden's "Jobs Now" proposal with up to $12 million annually allocated for loans and grants for construction, extension and improvement of plants and other facilities.

"You have a few more tools in your toolbox," Kinder told officials of the port authority and Cape Girardeau economic development officials.

Mitch Robinson, executive director of the Cape Girardeau Area Industrial Recruitment Association, predicted the bill will lead to greater use of enterprise zones in the Cape Girardeau area.

But he said it will likely be late summer or early fall before the economic development incentives will be in place and communities can start looking to apply for funding.

While Kinder and Hanaway chose the port as a backdrop for their comments, Robinson said the legislation doesn't directly affect ports.

Funding for the bill comes from eliminating four tax credit programs and funneling the savings into the state's new economic development program.

mbliss@semissourian.com

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