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Senator says Missouri not adequately competing for economic development

Thursday, March 4, 2010 | 10:19 a.m. CST

JEFFERSON CITY — A Missouri lawmaker equates the state's approach to economic development to someone "bringing a knife to a gunfight."

Sen. Tom Dempsey, R-St. Charles, is sponsoring a wide-ranging economic development bill that got its first airing Wednesday night in the Senate. Dempsey said Missouri's business incentives are not keeping up with those offered by neighboring states.

The bill would create one special fund to attract bioscience firms, and another to provide cash incentives for businesses considering Missouri. Yet another provision would give Missouri-based companies extra tax breaks for expanding instate.

Senators took no vote on the bill Wednesday. The debate is expected to last much of the session, because some Republican senators are pushing for new limits on state tax breaks.

 


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