Tagged: aerotropolis

Special legislative session may end unless consensus found in 2 days

Supporters and opponents of the scaled-down tax credit bill spent more than six hours Monday trying to make their respective cases to a Missouri House committee.  Senate leaders slashed $300 million  from the Aerotropolis proposal before passing it, and say that the Compete Missouri provision in the bill can more than make up for the deleted warehouse incentives. 

David Kerr, who heads the state's Economic Development department, testified in favor of the bill.

Updated 5:32 p.m. with reaction from the Mo. House Speaker

A measure that sharply reduces the amount of tax credits available to support the creation of an international cargo hub at Lambert-St. Louis International Airport is in the hands of the Missouri House.

The State Senate approved the measure this morning.

Updated 9:39 a.m. Sept. 14

A smaller version of the wide-ranging tax credit bill received first-round approval Tuesday in the Missouri Senate.  GOP Senate leaders realized there was not enough support within their own caucus for passing $360 million in air cargo incentives, not to mention a threatened filibuster. 

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.