Nixon talks up innovation, China Hub in jobs-creation speech
The delicate compromise on economic development incentives that was unveiled by state lawmakers Wednesday took a sizable step forward Thursday morning, when Gov. Jay Nixon endorsed many of its key elements.
In a speech at the Danforth Plant Science Center in Creve Coeur, Nixon pledged to call a special legislative session to consider a tax credit package, and laid out priorities for what he’d like to see happen.
Given the setting – Danforth is a hub of the region’s plant science industry – Nixon focused on innovation and education in his 20-minute speech. And he called the room full of local business leaders and politicians to think big about Missouri’s economy.
“We need bold vision and competitive spirit again,” he said. “We are competing against the world.”
Nixon also sounded his strongest support yet for the $360 million worth of tax credits designed to build a cargo hub at turn Lambert-St. Louis International Airport. He has at times been lukewarm towardthe project in the past, particularly citing concerns about transparency in the tax credit program. He repeated that call today for good oversight but said the cargo hub is a project well worth doing.
“The creation of a thriving commercial hub in St. Louis would allow us to continue to drive exports through the roof, which drives job creation, profitability and prosperity not just in the St. Louis area, but all across our state,” he said. “I am a strong supporter of this initiative.”
Nixon also specifically supported tax credits to build data centers – hubs that store large quantities of computer information – and MOSIRA, a top priority of the St. Louis high-tech community which would dedicate a stream of state income tax revenue to fund tech startups.
Aerotropolis, MOSIRA and data centers were all parts of the tax credit package released by House and Senate leaders on Wednesday. Nixon added to the mix a fourth priority of his own: Compete Missouri, which would combine various other incentive programs and enable the governor’s office to lend money upfront to businesses to get them to locate in Missouri.
“We needed tools that were sharper, more effective and more user-friendly,” he said.
Reaction from business leaders was swift, and positive. Richard Fleming, president of the Regional Chamber and Growth Association, immediately hailed the speech, and said it’s a good sign that Nixon’s priorities shared so much with those of legislative leaders.
“You see the planets aligning,” he said.
Sam Fiorello, president of the BRDG Park tech incubator that’s attached to Danforth, was delighted with MOSIRA’s inclusion in the deal. It’s the kind of package that can help science startups grow to full-scale companies, instead of leaving Missouri to find funding elsewhere, he said.
“It’s terrific,” he said.
Even Republican lawmakers had little bad to say. Rep. John Diehl, a Republican from Town and Country who played a key role in tax credit talks, said he was glad to hear there’ll be a special session and generally like the tone of the governor’s speech. It was, though, “a little short on specifics.”
