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The Missouri Economic Development Council
(MEDC), the group that has been promoting
new economic development incentive tools,
applauded the final approval this week (Thursday)
of the omnibus economic development bill,
SB 343, by the Missouri House and Senate.
MEDC, which represents more than 400 local
and regional economic development professionals
across the state, has led the initiative to
develop incentive programs that give Missouri
a competitive edge in retaining existing firms
and attracting new companies to the state.
"Our members are pleased the Legislature has
given such overwhelming support to SB 343.
The creation of the new Quality Jobs program
and the opportunity for local governments
to improve their economic development funding
with an optional sales tax are tremendous
steps in putting our state in front of our
global competitors", said Rebecca Zoll, executive
director of North County Incorporated (NCI)
and MEDC member.
Last year, MEDC conducted an independent,
outside review of Missouri's competitive position
in economic development. That study, conducted
by Taimerica Management Company, gave a number
of recommendations for improving the state's
business competitiveness. Among those recommendations
were streamlining existing programs and creating
a performance incentive based on a company's
ability to provide good jobs. That performance
incentive recommendation became the basis
for the Governor's Quality Jobs program.
The report was presented to Governor Matt
Blunt in December. "The enthusiastic endorsement
Governor Blunt gave the report and his use
of the report to develop his Quality Jobs
initiative is greatly appreciated. The Governor's
leadership on business climate issues has
been critical to the successful passage of
this economic development legislation," noted
NCI Economic Development Committee member,
Patrick McKeehan, project director for the
Ford Hazelwood Task Force and MEDC member.
The bill now goes to the Governor for his
signature.
MEDC also praised the support of Representative
Ron Richard, chairperson of the House Job
Creation and Economic Development Committee
and handler of the bill in the Missouri House,
Senator Matt Bartle, sponsor of the bill in
the Missouri Senate, and Senator John Griesheimer,
chairperson of the Senate Economic Development,
Tourism, and Local Government Committee.
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