ST. LOUIS (AP) - Missouri Gov. Jay Nixon chose a monument to the space race manufacturing boon as a backdrop to sign into law a $1.7 billion tax incentive package to lure aerospace giant Boeing to the state.
The governor endorsed the tax breaks for production of the company's 777X jetliner Tuesday morning at a bill signing ceremony at the James S. McDonnell Planetarium in St. Louis' Forest Park.
More than 100 civic and business leaders joined Nixon, hours before Boeing's self-imposed deadline for offers from eager local and state governments across the country. The presumed manufacturing site is on the edge of Lambert St. Louis International Airport.
The tax credits are worth up to $150 million annually over 23 years if Boeing meets its target of 8,000 new jobs.
When the state of Missouri presents it's economic package to Boeing Tuesday, it'll include an extra tax incentive from St. Louis County.
Monday night, the County Council unanimously approved a preliminary package that could be worth as much as $1.8 billion if Boeing agrees to build the 777X commercial airliner near Lambert Airport. The specific form of the incentives will take has not yet been determined, but could include TIFs, or tax increment financing.
Both County Executive Charlie Dooley and St. Louis Mayor Francis Slay addressed the County Council last night in an effort to win the incentives. Both made the case that the number of jobs the plant would bring would mean a significant economic boost to the region. Production of the plane could bring as many as 8,000 new jobs to the St. Louis area.
With the county incentives and the tax breaks approved by state lawmakers last week, Missouri's bid to win the plant is worth nearly $3.5 billion over 20 years.
More than a dozen communities are vying for the new Boeing plant. The aerospace company is expected to make a decision in January 2014.
Missouri's proposed incentive package, designed to lure more Boeing jobs to St. Louis, will get its final touch Tuesday.
Governor Nixon will sign the bill at the James S. McDonnell Planetarium at 10:30 AM. Joining the governor for the signing: local lawmakers, labor leaders, and representatives of the Missouri Aerospace Training Consortium. The bill, passed by the General Assembly last week, authorizes up to $1.7 billion in incentives over 20 years.
The legislation was the product of a special session that Nixon called.
JEFFERSON CITY, Mo. (AP) — Two Boeing employees who are Missouri lawmakers took different approaches when the House considered a package of incentives for their company to assemble a new passenger jet in the St. Louis area.
Rep. Doug Funderburk, who is a longtime Boeing electrician, passionately urged colleagues to approve the legislation Friday. He voted "yes" as the bill passed the House 127-20.
Funderburk told The Associated Press he didn't think it posed a conflict of interest because he plans to retire within a few years. He said Boeing officials had no conversations with him about the legislation.
Representative Clem Smith, who is a machinist on the Boeing F-18, abstained from voting. Smith told The AP the bill presented a conflict of interest, because it could mean more money in his pocket.
JEFFERSON CITY, Mo. (AP) - Missouri lawmakers have given final approval to incentives for Boeing to assemble to a new passenger airplane in the St. Louis area.
The House voted 127-20-2 Friday for the legislation that authorizes as much as $1.7 billion of incentives over more than two decades for Boeing to produce the 777X jetliner. The legislation passed the Senate on Wednesday by a 23-8 vote.
Now it's up to Boeing to decide whether Missouri's offer is good enough.
Boeing sought proposals from more than a dozen locations after a machinists union in Washington state rejected a proposed contract last month.
Gov. Jay Nixon called a special session in order to increase the amount of incentives Missouri could offer. Missouri's proposed incentives are linked to the number of jobs created.
JEFFERSON CITY, Mo. (AP) - Missouri senators have passed legislation offering up to $1.7 billion of incentives over two decades for Boeing to assemble a commercial airplane in St. Louis.
Senators passed the bill 23-8 Wednesday while meeting in a special session called by Gov. Jay Nixon. It now goes to the House.
Missouri is one of more than a dozen locations invited by Boeing to bid on assembling the new 777X airplane.
Most other states are crafting their proposals privately. But Nixon called a special session because he wanted to offer more incentives than currently allowed under state law.
Under Missouri's plan, the amount of incentives Boeing gets would depend on the number of jobs created.
Supporters say the Boeing project includes 2,000 to 8,000 company jobs, plus thousands of more at its suppliers.
The Missouri Senate will take up debate Wednesday on a tax incentive bill aimed at luring Boeing's commercial airplane plant to St. Louis. That after a Senate committee approved legislation Tuesday night that will offer up to $1.7 billion of incentives over two decades tor Boeing.
St. Louis Mayor Francis Slay and County Executive Charlie Dooley led a delegation of officials testifying Tuesday evening before the Senate committee. They touted the thousands of jobs a new Boeing plant would bring to the area.
Earlier Tuesday, Governor Jay Nixon released an economic analysis showing Missouri would take in more additional tax revenues than it would waive in incentives.
St. Louis area governments also would offer incentives. But local economic development officials said they weren't ready Tuesday to put a price tag on those incentives.
Missouri is one of several states competing to assemble the Boeing 777X airplane.
JEFFERSON CITY, Mo. (AP) - New details about Missouri's bid for a Boeing assembly plant show the state could offer more than $1.7 billion of incentives over two decades.
Gov. Jay Nixon's office released details about the incentives Tuesday to The Associated Press as lawmakers prepared to hear testimony about it in a special session.
Nixon also said a new agreement among St. Louis labor councils could help Missouri compete for the Boeing 777X airplane.
Boeing solicited proposals to build its next-generation commercial aircraft after union members in Washington state rejected a proposed contract that sought concessions.
Missouri's potential package of incentives is based on the jobs created. If Boeing adds 2,000 jobs, the incentives could total up to $435 million by 2040. If Boeing adds 8,000 jobs, the incentives could total $1.74 billion.
St. Louis Mayor Francis Slay will be in Jefferson City Tuesday to testify in favor of tax breaks aimed at luring Boeing's 777X plant to St. Louis.
Yesterday, a bill was introduced that would expand state tax credit programs by $150 million for aerospace companies that create at least 2,000 jobs in Missouri.
Slay will make the case to a Senate subcommittee that landing the Boeing plant would be good for the St. Louis region and the whole state.
Governor Jay Nixon says Missouri is facing a December 10th deadline to submit an offer to Boeing.
JEFFERSON CITY, Mo. (AP) - It is the opening day for a Missouri special legislative session called in hopes of persuading the Boeing Co. to produce the 777X plane in the state.
Gov. Jay Nixon says Missouri faces a Dec. 10 deadline to submit an offer to Boeing.
Nixon has proposed an incentives package worth up to $150 million annually. It would be funded through four existing Missouri programs that help finance job training, infrastructure improvements and reward companies for expanding their payrolls.
Any incentives approved by Missouri likely will face competition from other states.