STATE HOPES TO LURE BUSINESS

JEFFERSON CITY -- State officials could be courting a company that would invest $500 million and employ 2,000 workers in Missouri, if a bill moving through the General Assembly continues to gather support.

If a company of such size located in Missouri, it would rank as one of the state's top 10 industries.

Sponsored by Rep. Larry Thomason, D-Kennett, and Sen. Edward Quick, D-Kansas City, the bill would start a program for large-scale economic development by linking the salaries of the firm's workers to retiring bonds used to build the facility.

A 5 percent payroll deduction would be invested to pay off the bonds, said Thomason. Employees could claim the deduction to reduce their state income tax.

Gov. Mel Carnahan and Director of Economic Development Joe Driskill have stressed that the state will not use massive tax abatements and taxpayer subsidies to attract industry.

"We are very supportive of anything that will help economic development," said Carnahan spokesman Chris Sifford. "This is a way to provide financing other than the usual means."

Driskill said the state is shifting from traditional methods of attracting new business to new tactics such as "building capacity for long-term growth.

"We will hold the line on what we do to attract industry," Driskill said. "We have to move away from incentives and target economic development in a better fashion."

Roger Walker, general counsel for the Missouri Chamber of Commerce, said the bill "seems to be written with one company in mind," but said he didn't know who.

"It's a weird deal, but whatever it is, it's big," said Walker. "Really big."

"It's a little broader than that," said Sifford. "But it's an effort that will be continued to attract other development."

The bill details that to be eligible for the package workers must receive a $12 hourly wage or a combination of wages and benefits of $15 an hour.

Thomason said the measure has several safeguards, including a section protecting the state from any debt.

The bill gives the Missouri Development Finance Board authority to issue the bonds.

Thomason is secretive about who the bill is trying to lure to Missouri.

"I really can't say a whole lot about it," said Thomason. "I told Joe (Driskill) when he came to me with it not to tell me anything I didn't need to know."