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Missouri Backs Manufacturing Incentives

02/19/2010
The Missouri House has endorsed new tax incentives for manufacturers who improve their factories in the state.

The legislation, which was given initial approval on 2/16/10, is targeted primarily at Ford Motor Co.'s automobile plant in the Kansas City suburb of Claycomo. However, it also could apply to other Missouri manufacturers and their suppliers.

The bill would allow manufacturers to keep part of the withholding taxes they normally would pay if they invest at least $50,000 per full-time employee on factory improvements. Suppliers to those manufacturers also could qualify for incentives if they add at least five new jobs with salaries that at least meet the industry average and provide health insurance.

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