From the desk of Senator David Pearce - Creating jobs

Creating Jobs

At the beginning of the session, my colleagues and I decided that we would work on a few main goals, such as job creation and creating a balanced budget. These concepts are not just arbitrary ideals, but are necessary for a strong state and a bright future. The House approved its version of the budget this week and sent it to the Senate for consideration.

This week the Senate took up Senate Bill 280, a measure that would enhance job creation. The cornerstone of SB 280 is a new economic development plan called Compete Missouri. It would combine six existing business programs that would provide tax incentives for job creation and retention, as well as capital investment.

This program would allow the Department of Economic Development the discretion to allow a qualified company a number of tax exemptions, provided they create and retain jobs. For a company to achieve maximum benefit from this program, qualifications including offering health insurance, creation of at least 20 jobs within two years, or retention of at least 150 jobs already existing jobs and a commitment of $15 million in capital improvements would have to be met.

While the Compete Missouri Program would be a great step toward fulfilling Missouri’s potential in the economic race, so too is the opportunity to research, review, and discuss other tax credits on the books in Missouri, which is the other purpose of SB 280. The Tax Credit Review Commission was formed last summer in order to review 61 tax credit programs being offered by the state and examine their continued efficiency and effectiveness. One of the biggest questions that needs to be asked is whether or not the state is receiving a good return on its investment.

Creating jobs and balancing the budget are important goals for the Senate this session. Senate Bill 280 has the potential to allow discussion that will allow us to reach those goals and make Missouri a greater competitive force for the future.

As always, please feel free to contact me or my staff with any questions or concerns at any time. We look forward to hearing your comments and suggestions and trying to answer any questions you may have. You can reach us by phone at 866-277-0882 (toll-free) or 573-751-2272, or by fax at 573-526-7381.

Senator David Pearce serves Bates, Cass, Johnson and Vernon counties in the 31st State Senatorial District.