While Missouri legislative leaders have reached an agreement on an economic development package, some lawmakers are speaking out against it.
The key component is the so-called Aerotropolis measure, which would provide $360 million in tax credits to transform Lambert Airport in St. Louis into an international air cargo hub.
The economic development deal struck by lawmakers will cut one of Missouri’s most popular tax credits nearly in half.
The deal between House and Senate leaders would cut the amount of Historic Preservation tax credits issued each year from $140 million down to $80 million.
Ruth Keenoy with the non-profit Landmark Associates of St. Louis, Inc., says the smaller cap would be detrimental to Missouri’s economy. She wants the incentives to be left as-is.
Updated 3:46 p.m.
St. Louis business leaders are praising a move by state lawmakers and the governor to take up a broad-ranging package of economic incentives.
Governor Nixon announced Thursday that he will call a special session in September to talk address jobs and economic development
Chief among the package is $360 million in tax incentives for Lamber-St. Louis International Airport.
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