STRONG ECONOMY IN MISSOURI MAY AFFECT TAXES TOO

Missouri's economy is strong and growing. That is the assessment of the Missouri Department of Economic Development officials regarding 1994. The department cited:

-- More than 75,000 new jobs, an increase of 3.2 percent.

-- More than $5 billion in exports, a record.

-- 187 new companies started during the year, up 35 percent.

These are sterling figure for a state that has pretty much weathered big cuts due to defense downsizing and a flood the year before that wiped out crops in many areas.

This year's crops are a mixed bag: The yields are large and, as a result, prices are lagging. But at least there were crops to be harvested in 1994.

One area that has been particularly affected by the statewide economic expansion has been the work force. More Missourians had jobs, but many of the state's employers were facing the unusual situation of not being able to fill some vacancies. This was mostly in entry-level positions with minimal or no benefits.

In Southeast Missouri, employers began looking at new tactics to attract and keep workers. Some companies even dispatched recruiting teams to surrounding states to find potential employees.

The year's economy was topped off with brisk retail sales for the holidays. Store owners and managers cited record sales in many instances, which was a bright note.

With the new year comes the forecasts and the questions for 1995. Will it be as good? Will it be even better? Will the national economy remain robust and help fuel more jobs and more economic expansion in Missouri?

Even with the economic gains cited by the state's economic development experts, there was the reality that some Missouri counties still have excessive jobless rates. The expansion of jobs tends to occur in some areas and not others, leaving some workers, particularly in rural counties, unable to find jobs unless they relocate.

And the economic expansion raises another issue. The state's economic tide means growth in tax revenue as well. This comes at a time when the Farm Bureau and Gov. Carnahan are backing a constitutional amendment to give voters a say in tax increases that exceed $50 million. In a growing economy there will be more money for the state to spend, and it is a pretty good bet the state will spend every dime available, with or without tax increases approved by voters.

All of which suggests that a tax-limit amendment may be approaching Missouri's boom from the wrong perspective. Instead of limiting how much the state can add on to the tax burden, perhaps voters ought to be considering a tax-cut proposal that would offset some of the natural expansion in state revenue.

A look at the future for a state with a healthy, growing economy indicates there will be more and more spending whether or not voters have a say on tax increases. Maybe it is time to let voters have a say on how fast the state's budget grows. It would even be nice to think that state taxpayers might enjoy some of the fruits of a vigorous economy through tax reductions and spending restraints.