Lawmakers in Missouri are considering a bill aimed at enhancing the state’s economic development program, Missouri Works. The proposed legislation, HB 2479, sponsored by Rep. Louis Riggs (R-Hannibal), seeks to make changes to Missouri Works, a program administered by the Missouri Department of Economic Development that assists companies in accessing capital through tax credits and withholdings.
Riggs expressed that the bill aims to make Missouri Works more competitive with similar programs in other states, stating, “This is a simple bill that will enable Missouri Works to be competitive with similar programs in other states.”
The Missouri Chamber of Commerce and Industry, a longtime advocate for Missouri Works, testified in support of the bill. Lauren Mustoe, vice president of public affairs for the Springfield Area Chamber of Commerce, emphasized the importance of the program, stating, “This is one of the programs that our economic development team utilizes first and foremost when they’re trying to attract businesses and help them expand in our region.”
The proposed changes would allow the Department of Economic Development to award tax credits and withholding tax benefits up to a total of $181 million, streamlining the process and enabling the department to make more competitive offers without quickly reaching the Missouri Works tax credit cap.
A companion bill in the Senate, SB 1301, sponsored by Sen. Jason Bean (R-Holcomb), complements the efforts in the House to improve the Missouri Works program.
For further details or inquiries about the proposed changes to Missouri Works, interested parties are encouraged to reach out to Heidi Geisbuhler Sutherland at hsutherland@mochamber.com or (573) 634-3511.
