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Final 9-25-16 Delaware

Missouri governor approves tax incentives for data storage

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Missouri governor approves tax incentives for data storage

JEFFERSON CITY, Mo. (AP) – A bill to create tax incentives for Missouri data storage centers has been signed into law by Democratic Gov. Jay Nixon. Nixon on Thursday signed the measure, which will create sales tax exemptions on equipment and utilities for new and expanding data storage centers. The governor vetoed similar legislation last […]

Missouri governor approves tax incentives for data storage

JEFFERSON CITY, Mo. (AP) – A bill to create tax incentives for Missouri data storage centers has been signed into law by Democratic Gov. Jay Nixon.

Nixon on Thursday signed the measure, which will create sales tax exemptions on equipment and utilities for new and expanding data storage centers.

The governor vetoed similar legislation last year. He cited concerns that the exemptions were too broad and didn’t guarantee a return on the state’s investment.

But the proposal this year included a requirement that companies eligible for the incentives meet requirements for job creation and capital investments. They’re subject to random audits to ensure compliance.

Nixon says the bill could spur job growth and attract high-tech companies to Missouri.

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