The company plans to relocate its circuit breaker manufacturing lines to Mexico by the end of 2013.
Proponents say an enhanced enterprise zone could bring manufacturing jobs to Columbia. However, a 2010 state audit found that promises of jobs and investment related to Missouri's EEZ program were inaccurate and often overstated.
Some citizens are concerned that 12-year-old demographic data might paint an inaccurate portrait of Columbia and Boone County. The city's population has grown about 30 percent from 2000 to 2010.
Regional Economic Development Inc. began to look into the possibility of an enhanced enterprise zone in early 2011. It first came before the City Council in January, and the council will consider re-establishing an EEZ board at its meeting on Monday.
Columbia group would seek removal of City Council members who vote to reform enhanced enterprise zone board
Columbia residents worry about property values and eminent domain in neighborhoods designated as blighted. Proponents of an enhanced enterprise zone insist the worries are unfounded and that the city needs to offer incentives to attract manufacturing jobs.
Business that locate or expand within an enhanced enterprise zone are eligible for a number of economic incentives. To date, there are 199 such zones in Missouri.
The class of 2012 is leaving college with something that many graduates since the start of the Great Recession have lacked: jobs.
Instead of seeking additional aid from taxpayers, the company will pay a dividend of $2.8 billion to the Treasury Department. That compares with the same quarter one year ago when Fannie reported a net loss of $6.5 billion.
The government slashed its forecast for average gas prices to $3.79 per gallon for the summer driving season.
Greek left-wing politician Alexis Tsipras caused a stir Tuesday when he said Greece is no longer bound by its pledges to impose crippling cutbacks in return for rescue loans.
The City Council voted unanimously Monday evening to rescind a blight decree that was needed to establish an enhanced enterprise zone.
Job creation has been "consistently solid" adding "more than 100,000 jobs for eight months straight" while employers have also added "at least 100,000 jobs every month this year."
Amidst economic worry over unemployment and less than projected job growth, the price of oil dropped below $100 per barrel for the first time in three months.
Economists surveyed by The Associated Press foresee economic growth in the coming years, but they still have a few concerns that could cause growth to stall.
Europe's plan to fix its debt crisis by imposing budget cuts frayed Monday, and heavy selling rocked financial markets.
The rising cost of fuel is taking on toll on rural economy growth, a survey conducted in 10 states found.
A report intended to address the consequences of rescinding the blight decree necessary to establish an enhanced enterprise zone will be up for discussion at Monday night's meeting of the Columbia City Council.
While jobs numbers usually bounce around from month to month, experts argue there are several reasons to worry about the current job market.
Employment increased in Boone County from September 2010 to September 2011 by 2.4 percent. Average weekly wages in the county also increased during that period, by 5.2 percent.