JEFFERSON CITY — The governor has approved Senate Bill 861, a measure sponsored by Sen. Paul Wieland, R-Imperial, that began as port improvement legislation and grew into a significantly larger economic development bill.
“Senate Bill 861 is perhaps the largest economic development bill to pass the Missouri Legislature in years,” said Sen. Wieland. “It contains provisions pertaining to advanced industrial manufacturing zones, public-private partnerships, the Bring Jobs Home Act, tax incentives for transportation facilities and much-needed aid for the redevelopment of the old Chrysler plant in Fenton, Missouri.”
Senator Wieland’s legislation will allow ports to create advanced industrial manufacturing zones for the purpose of establishing a dedicated funding source for port improvement and development. Additionally, the bill creates tax incentives for entities that utilize Missouri port authorities. The deductions would be administered by the Department of Economic Development.
“We have a unique opportunity to become a national leader in shipping goods by waterway,” Sen. Wieland said. “By creating a dedicated funding source, my legislation will encourage more businesses to ship their goods by port. It’s a carefully crafted measure designed to give our ports the support they need to continue creating jobs, and it positions us to take advantage of a rapidly changing 21st century marketplace.”
Senate Bill 861 also contains language expanding the types of facilities that are included in the definition of “project” under the Missouri Public-Private Partnerships Transportation Act. Public-private partnerships help deliver private sector capabilities, including their innovation and cost efficiencies, to public sector projects.
“We were looking for ways to encourage the private sector to grow and help the public sector accomplish projects in a more effective way,” added Sen. Wieland. Finally, SB 861 modifies the Brownfield Redevelopment Program to aid in the cleanup and redevelopment of the old Chrysler plant in Fenton, Missouri, and establishes the “Bring Jobs Home Act” to encourage businesses that have left to bring their jobs back to the Show-Me State.
“With this legislation, we will be able to accomplish two important goals at once,” said Sen. Wieland. “First, we’ll rejuvenate a property in Fenton that was abandoned when a company moved its jobs out of our state. And second, we’ll create incentives for companies to move their jobs back to Missouri.”
In addition to sponsoring SB 861, Senator Wieland fought to see Missouri’s port authorities receive more than $12 million in funding for Fiscal Year 2017 — a historic amount and a tacit acknowledgement of how important ports are to business owners in Missouri. Of that $12 million, $1.4 million is going to Jefferson County for improvements in Kimmswick for the Delta Queen project.
“I have long been an advocate of Missouri’s ports,” Sen. Wieland said. “With over 1,000 miles of the Missouri and Mississippi Rivers, which is more than the combined length of Interstates 44, 55 and 70, Missouri’s unique geographic location makes our port system one of the Show-Me State’s greatest assets.
“Our ports provide a low-cost, environmentally sound way to transport goods to market. As we enter into a new age of global economics, they will play an even greater role in exporting Missouri products across the world. I’m glad the governor has recognized the significant of our ports by approving this important legislation.”
For more information on Sen. Wieland’s sponsored legislation, visit his official Missouri Senate website at www.senate.mo.gov/wieland.