Missouri Gov. Jay Nixon has signed legislation directing state money to help new companies doing business in science or technology fields.
The measure signed Friday creates a fund to offer incentives to companies that conduct research or make products related to agricultural biotechnology, veterinary medicine, biochemistry, forestry, homeland security, information technology and pharmaceuticals. The fund would be overseen by the Missouri Technology Corp.
House Speaker Steven Tilley (R, Perryville) supported the bill.
“That’s a bill that could actually invest and create a lot of high-tech, life sciences jobs here in the state," Tilley said. "It’s certainly a significant piece of legislation, (and) I think it really could help spur some economic development within the state.”
However, the legislation contains a contingency clause declaring that it will take effect only if a separate bill on economic development is approved. That measure is unlikely to be passed, and Nixon says courts may have to decide the effect of the contingency clause.