HB 575 -- Business Use Incentives for Large-Scale Development
Program

Sponsor:  Diehl

Currently, an eligible industry with an economic development
project that is an office industry must create a minimum of 500
new jobs for the purposes of the Business Use Incentives for
Large-Scale Development (BUILD) Program.  This bill reduces the
minimum number of new jobs to 350.

The bill also authorizes the Missouri Development Finance Board
within the Department of Economic Development to allow the
program to temporarily suspend or waive its requirements if
market or economic conditions are such that an eligible industry
is unable to meet the program's requirements.

Currently, in order to approve an application, the board must
find that there is at least one other state that the applicant
verifies is being considered for the BUILD project and that there
is a significant disparity in the project's costs based on the
incentives offered by the competing state.  The bill removes
these requirements.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am