The Missouri General Assembly has approved a spending plan that incorporates key business priorities endorsed by the Missouri Chamber of Commerce and Industry. These include funding for the expansion of I-44, the development and retention of a skilled workforce, and the domestication of high-tech manufacturing industries crucial to national security.
The budget bills, totaling $51.7 billion, were passed just hours before the constitutional deadline of 6 p.m. on Friday, May 10. The total budget is approximately one billion dollars less than Governor Mike Parson’s recommendation.
Due to advocacy efforts by the Missouri Chamber, employers will have access to funding designed to help their workers acquire new skills. The Department of Economic Development’s budget includes $3 million for the upskill credentials program – a significant tool for building and retaining a skilled workforce. This competitive grant program supports employees who earn short-term certificates or credentials in areas vital to Missouri’s economy such as cybersecurity, welding, HVAC repair, nursing, and manufacturing technology.
The Missouri Chamber also spearheaded efforts to secure $15 million aimed at attracting more high-tech manufacturing to Missouri. Specifically, this pertains to the manufacturing of semiconductors and active pharmaceutical ingredients (APIs). This state funding addresses public health and national security risks posed by an over-reliance on foreign-sourced products.
The budget bills now await Governor Parson’s signature.
Other pro-business highlights from the budget include full funding for K-12 education foundations and transportation formulas ($4.2B), expanded access to pre-kindergarten programs ($81.9M), baseline teacher salary set at $40,000 ($33.4M), STEM career awareness ($370K), computer science education ($450K), career and technical education programs ($80.1M), youth apprenticeship programs ($611K), WorkKeys job and career assessments ($2.5M) among others.
In higher education & workforce development sector, a 3% increase in funding for all higher education institutions is included, along with a variety of other initiatives.
The transportation sector will see an I-44 expansion ($727.5M), environmental impact study on I-44 ($20M), I-70 expansion bond payments ($136M), construction and repair of 215 bridges ($18.8M) among others.
In the administration sector, World Cup planning and logistics have been allocated $17.5M. In economic development, creation of a Cortex-led tech job training program has been funded with $7M, and broadband expansion and deployment has received $1.8B.
In public safety/corrections, re-entry and job coaching programs for offenders have been allocated $7M, while health sector sees construction of an acute behavioral health unit funded with $25M and construction of four new behavioral health crisis centers in high-need areas with $7.3M.
