Mo. lawmakers seek requirements for officials involved in economic development projects
A House panel heard testimony Monday on eight measures aimed at increasing scrutiny of businesses that ask for government money. The legislation would require local governments to get insurance for municipal bonds for economic development projects and to hold public hearings before issuing bonds.
State and local officials would also have to share information they have about companies seeking development incentives.
Governor Jay Nixon (D) says his administration wisely handled the vetting of a Los Angeles-based company that began building an artificial sweetener plant in Moberly, then pulled out after missing its bond payment to the small northeast Missouri town.
Moberly officials told a State House committee this week that the governor’s Department of Economic Development withheld emails from a DED consultant revealing that he could not verify whether Mamtek had a functioning plant in China. Nixon did not address that accusation when talking with reporters today, but he did say no taxpayer dollars went to Mamtek.
Quinn and lawmakers reach deal on state facilities
A budget deal reached among Illinois Governor Pat Quinn and lawmakers will save seven state facilities and the jobs at those locations, at least for now. The plan won General Assembly approval Tuesday. Quinn had targeted a handful of developmental centers, prisons and psychiatric hospitals for shutdown after the legislature failed to provide enough money to keep them operating.
Quinn’s budget director, David Vaught, says the deal to shift money in the budget is a better solution…
The director of Missouri's Department of Economic Development is stepping down at the end of the year.
In a news release Tuesday from Gov. Jay Nixon, department director David Kerr cited a desire to spend more time with his family after working for 35 years in the public and private sectors. Nixon said he would move quickly to select a new director.
A Missouri Senate committee has requested that the state’s Economic Development Department hand over all documents related to a failed attempt to build an artificial sweetener plant in Moberly. The northeast Missouri town agreed to issue $39 million in bonds to Los Angeles-based Mamtek. But the project fell through, and Moberly was stuck with a $39 million tab when the company missed its bond payment. Republican Senator Kurt Schaefer of Columbia was appointed to the Governmental Accountability C