A measure to encourage businesses to offer stock ownership plans to employees is being promoted by the Missouri Chamber of Commerce and Industry.
The proposal was approved by bipartisan majorities during the legislative session and awaits action by Gov. Jay Nixon.
We join in urging the governor to sign an incentive that offers benefits for Missouri employees, business owners and statewide economic development.
As outlined last week by Dan Mehan, the state chamber's president and CEO, "The bill allows business owners to defer up to 50 percent of the taxes gained from the sale of stock to an employee stock option program, as long as the company is over 30 percent employee-owned."
Mehan explained that "the deduction allowed would created an incentive to sell their companies in Missouri to their employees - as opposed to running the risk of offering it up on the auction block to anyone outside the state or outside the country or just closing the doors."
In addition to enhancing economic development, House Speaker Pro Tem Denny Hoskins, R-Warrensburg, believes employee-ownership will boost workers' morale.
"We've found that study after study shows that," Hoskins said, "when as an employee you are a part owner in the business that you are working for, your productivity and sense of pride and workmanship increase.
"This bill," he continued, "provides that opportunity to have the American dream and be a part-owner of a business."
Employee stock ownership plans enhance business growth, job stability and economic development. As an incentive for both Missouri businesses and their employees, we encourage the governor to sign this bill into law.