(Missourinet) A workforce development package has been signed into law that aims to court a $1 billion expansion at the General Motors factory in eastern Missouri’s Wentzville. During a ceremony today at the state Capitol in Jefferson City, Gov. Mike Parson signed his name on the dotted line to make the legislation official.
Sen. Lincoln Hough, R-Springfield, sponsored Senate Bill 68, which gives $5 million in annual tax credits over 10 years to carmakers investing at least $750 million in Missouri plant upgrades. It would give tax credits earlier in a business expansion. The plan also includes the governor’s Fast Track program that would provide financial aid for people seeking high demand fields.
Supporters of the package say it would keep jobs and bring more jobs to Missouri. Opponents of the measure call it a handout with no promise of keeping a certain number of jobs.
In a statement today from Darri’n Hardy with General Motors, the company says today’s action is a step in the right direction. She says GM is still evaluating the overall business case for this potential project and has no announcements to make at this time.