
JEFFERSON CITY, Mo. – A Senate committee gave the thumbs up Thursday morning on a new tax credit bundle aimed at attracting a jet plant to Kansas City.
Despite questions and concerns raised Wednesday over the proposal’s lack of details, the bill flew through the committee with a unanimous 11-0 vote and virtually no discussion.
Bill Sponsor Sen. Charlie Shields, R-St. Joseph, has contended the incentive package would convince Bombardier to move from its current Canada site and relocate just south of the Kansas City International Airport.
The $375 million plant is expected to generate more than 5,000 other jobs.
In exchange, Mr. Shields’ SB 1234 would expand the Enhanced Enterprise Zone program to include “mega projects,” like Bombardier. The change would allow the Missouri Department of Economic Development to issue up to $40 million in tax credits on a sliding scale each year for up to 22 years based on the company’s payroll.
Unlike other tax credits, Bombardier would have to repay the credits, but officials haven’t divulged how much.
As majority floor leader, Mr. Shields plans to bring up the bill for consideration in the full Senate next week. Companion legislation also is circulating in the House of Representatives.
Mr. Shields said lawmakers are pushing the bill through as quickly as possible in order to send a message of intent to Bombardier so the state can nail down a deal with Bombardier.
During the committee executive session Thursday, Sen. Kevin Engler, R-Farmington, said he understood that the bill needed to move quickly, but that he’d asked Senate accounting staff to review the legislation more thoroughly before a final vote is taken.
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