As special session begins, Republicans cautiously open to Boeing incentives

JEFFERSON CITY — Missouri lawmakers on Monday convened a special session of the state legislature to consider a $150 million annual tax incentive package for Boeing in hopes the company will produce its new 777X commercial aircraft in St. Louis.

Republican lawmakers discussed the proposal with cautious but open arms on Monday as legislation backed by Democratic Gov. Jay Nixon was introduced in the state Senate. His proposal would expand four existing tax credit programs, including Missouri Works, Missouri Works Training, Missouri BUILD, and the Real Property Tax Increment Allocation Redevelopment Act

“This is a real opportunity,” Sen. Eric Schmitt, R-St. Louis, told reporters after introducing the legislation, Senate Bill 1. “I have a comfort level being familiar with these four programs being in existence — we’re not reinventing the wheel. There are taxpayer protections built into those problems.”

Read more on the St. Louis Business Journal.