JEFFERSON CITY, MO—Today, Representative Dean Dohrman joined an overwhelming majority in the House of Representatives and approved a $1.7 Billion tax incentive package aimed at bringing job growth to our state. During the special session called by Governor Nixon, the General Assembly overwhelmingly approved SB 1 offering specific tax incentives to the aerospace industry. This was in response to the Boeing announcement they are looking to move production of their 777x airplane out of Seattle to a more business and cost friendly environment.
“The impact of this bill will be felt around the state,” Representative Dohrman said. “We have many suppliers all across the state who would benefit from Boeing expansion. The bill has safeguards to protect Missouri taxpayers while offering an opportunity for Boeing to increase its manufacturing in Missouri as they also expand the state’s economy.”
Missouri’s incentive package offers up to $150 Million per year for 10 years to aerospace companies who create new jobs in Missouri. The Bill is also contingent upon Boeing creating at least 2,000 jobs in the state by June 20th, 2014. Average pay for these jobs is reportedly $75,000 per year. Boeing already has a formidable workforce within the state, providing over 15,000 jobs. The legislature is hopeful Boeing will favorably consider their expansion with the proven partner they have in our Missouri workforce.