Mo. proposing new incentives for high-tech firms - KAIT Jonesboro, AR - Region 8 News, weather, sports

Mo. proposing new incentives for high-tech firms

JEFFERSON CITY, Mo. (AP) - Gov. Jay Nixon and many Missouri lawmakers will be pushing for new business incentives during the legislative session that starts Wednesday. At least four incentive plans are likely to be considered.

They would: - Target startup companies with new tax credits for investors, forgivable loans or grants from a state seed-capital investment fund. - Create a special incentive pool for biotechnology businesses, funded by diverting a portion of the tax-revenue growth from existing firms in that field. - Establish a "closing fund" of cash, which state officials could tap to offer extra incentives to businesses when Missouri is competing to close a deal. - Allow existing Missouri businesses to exceed the standard caps for certain tax credits as an incentive to expand here instead of elsewhere.

 (Copyright 2010 by The Associated Press. All Rights Reserved.)

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