Missouri Gov. Jay Nixon said he planned to call a special legislative session on economic development, but he and lawmakers are still wrangling over what should be on the agenda. The to-do list is expected to include welcome measures retooling many of the state’s tax credit programs, curbing some incentives and offering new ones for high-tech industries.
Among them are provisions to help Kansas City ward off attempts by Kansas suburbs to poach Missouri-side businesses.
But the centerpiece of the package deserves a closer and skeptical look. This is the plan to allocate $360 million in tax credits for development of a big air cargo hub — an “aerotropolis” — at Lambert-St. Louis International Airport.
The project would subsidize development of warehouses and storage facilities around the airport and encourage the movement of cargo through St. Louis.
Sen. Eric Schmitt, a St. Louis County Republican, says a major goal is to expand distribution networks around the airport and encourage job creation.
A smaller part of the legislation would give tax credits for air cargo shipment, which will encourage freight forwarders — people who book cargo space on carriers — to work in the St. Louis area. The two facets of the plan would help build a major air cargo hub, says Schmitt.
Read more: http://www.kansascity.com
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