Department of Economic Development evaluates strategy, resets to focus on better serving the state

Today, new legislation and multi-department state government reorganization take effect, signaling a complete reset to Missouri’s economic development strategy. Governor Parson signed Senate Bill 68 into law in July, bringing forth comprehensive economic development legislation that included key components – Missouri One Start and the Missouri Works Deal Closing Fund – designed to meet employer needs and help Missouri compete for business expansions. Missouri One Start is a new resource that will allow Missouri to contend with the country’s top workforce training programs by helping businesses recruit, onboard, and train job applicants during expansions through customized workforce solutions. The Missouri Works Deal Closing Fund will give Missouri a negotiating tool to close deals with companies by granting tax credits up front during a business expansion, rather than over a multi-year period, and includes a claw back provision. The multi-department reorganization included moves within the following agencies: the Missouri Department of Economic Development, the Missouri Department of Higher Education and Workforce Development, the Missouri Department of Natural Resources, the Missouri Department of Commerce and Insurance, and the Lt. Governor’s Office. For more information about the Missouri Department of Economic Development, visit ded.mo.gov.

 

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