Missouri weighs $50 million in incentives for GM expansion
WENTZVILLE, Mo. – Missouri Gov. Mike Parson and state lawmakers are considering an incentives package offering General Motors up to $50 million for expansion of an eastern Missouri plant that makes trucks and vans.
The St. Louis Post-Dispatch reports that the package would include up to $25 million in tax credits if GM makes at least $500 million in improvements to its Wentzville plant within three years. If GM makes an additional $250 million in improvements, it could qualify for another $25 million in tax credits.
State officials cited urgency in the proposal since the Legislature adjourns May 17, and because Missouri is competing with other, unnamed states for the expansion.
The legislation does not mention if or how many new jobs would be created. The plant employs about 3,500 workers.
Information from: St. Louis Post-Dispatch, http://www.stltoday.com