Morning headlines: Tuesday, September 13, 2011
Missouri Senate to debate "Aerotropolis" tax credit today
An analysis shows Missouri could either gain or lose money depending on how a proposed tax credit is implemented for international trade at the St. Louis airport.
Senators met as a large group Monday night to review the cost-benefit projections prepared by the state Department of Economic Development for the so-called "aerotropolis" tax credit.
The analysis looks at the amount of state tax revenue that might be generated if tax credits are issued to build warehouses and manufacturing facilities near Lambert-St. Louis International Airport. Many scenarios show a net state benefit over a decade, but at least one shows a possible loss to the state. Some senators questioned the assumptions used in the analysis yesterday and requested further examples.
The Senate is scheduled to debate the bill Tuesday.
St. Louis man pleads guilty to charges in connection with city police officer's death
A 24-year-old St. Louis man faces sentencing next month after pleading guilty to second-degree murder in the death of a city police officer. The St. Louis Post-Dispatch reports that Sheldon Beckham also pleaded guilty Monday to burglary, stealing and resisting arrest.
The charges resulted from a police chase in March 2010. During the chase, 27-year-old officer David Haynes was pursuing Beckham. The chase ended in a four-car crash that killed the officer, a former Marine who had been with the department for just over a year.
Prosecutors are seeking a 20-year prison term for Beckham. His attorney, Robert Taaffe Jr., says he will argue for the minimum of 10 years.
Ill. Gov. to tour movie set
Ill. Gov. Pat Quinn is scheduled to tour the set of "Superman: Man of Steel" Tuesday. The Chicago Democrat is out to highlight the financial impact of movies filmed in Illinois.
The Illinois Department of Commerce and Economic Opportunity says the newly released movie "Contagion" generated about $12.5 million in the state. Filming for the blockbuster "Transformers 3: Dark of the Moon" brought in another $24 million. The film industry is credited with bringing in a record $161 million in spending to Illinois in 2010.
Moviemakers can take advantage of tax credits to make films in the state.