Mo. House backs expanding auto industry incentives
Wednesday, April 25, 2012
JEFFERSON CITY, Mo. (AP) — The Missouri House has endorsed new tax breaks aimed at helping companies that make auto parts.
In a voice vote Wednesday, the Republican-controlled House gave first-round approval to an expansion of the incentives that were given to Ford and General Motors in 2010.
The bill would require auto parts makers to create at least five new jobs, or to create two new jobs and invest $100,000 in such things as new buildings. The tax break would be equal to 5 to 6 percent of the new workers’ salaries.
Democratic Gov. Jay Nixon had called for such measures in his State of the State address in January. The House measure must be approved once more before it goes to the Senate.
Manufacturing jobs bill is HB1455