Missouri House OKs $9 million economic development package

Thursday, February 5, 2009 | 2:39 p.m. CST; updated 5:48 p.m. CST, Thursday, February 5, 2009

JEFFERSON CITY — The House has approved a $9 million economic development package that is one of Gov. Jay Nixon's top priorities for the session.

The measure expands a popular business incentive program and sprinkles other tax breaks mainly to employers. The main element removes any cap on the tax breaks that can be awarded under Missouri's Quality Jobs program.

That program was created in 2005 and lets businesses earn tax credits and keep a portion of the payroll taxes for newly hired workers whose jobs pay average wages and include health benefits. Currently the program's tax credits are capped at $60 million.

House approved the legislation 141-19 Thursday. It now goes to the Senate.

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