St. Louis Public Radio News
8:32 am
Mon January 5, 2009

Nixon jobs plan would take money from downtown development program

Jefferson City, Mo. – Incoming Missouri Gov. Jay Nixon could move some money away from one of outgoing Gov. Matt Blunt's favored economic development initiatives.

The Democratic governor-elect, has proposed what he calls the Show Me Jobs initiative.

Among other things, Nixon's plan would create a low-cost loan program for small businesses financed by an existing fee the Missouri Development Finance Board charges tax credit recipients.

Left unspoken in Nixon's announcement was that those fees already support an economic development program.

They go to the Downtown Revitalization DREAM program Blunt started in 2006.

The DREAM program's first 10 cities have received about $44 million in public aid to spur downtown development.

Nixon spokesman Oren Shur says the state has the resources to continue both programs.