All month long, Missouri Partnership is taking a look back at some of Missouri’s biggest stories in economic development from the past year. Today we are taking a look back at Missouri’s passage of Senate Bill 68 into law, making Missouri one of the best states for automotive manufacturing in the U.S.
In August, Missouri Governor Mike Parson signed Senate Bill 68 into law. The new automotive incentives grant up to $25 million in tax credits to automotive manufacturers that invest $500 million in plant upgrades, while agreeing to retain current workers, and then an additional $25 million in tax credits if they invest another $250 million.
“This legislation gives us the tools we need to be more competitive and shows companies everywhere that Missouri is open for business,” said Governor Parson. “We’re excited about this great step forward and will continue to invest in Missouri workers, help companies grow, and keep quality jobs here in our state.”
Check out our full coverage here.