Legislature Passes Potential $1.7 Billion Bill To Land Boeing Plant

The Missouri State Capitol in Jefferson City, photographed Sept. 11, 2013 | Photo by Michael Stacy
Legislators convened Monday in Jefferson City to put together an incentives package to lure Boeing. | Photo by Michael Stacy

The Missouri Legislature today approved and sent to Gov. Jay Nixon a bill designed to lure production of Boeing Co.’s 777X airliner to St. Louis County. The legislation expands a package of existing tax credits and could be worth $1.7 billion over 23 years, depending on how many jobs Boeing creates.

Today’s House vote marked the culmination of a special session that convened Monday for the sole purpose of pushing through legislation aimed at landing the Boeing facility, which would produce the Chicago-based company’s next-generation commercial airliner.

The House voted 120-27 to approve the bill. It passed the Senate on Wednesday, and Nixon is expected to sign it in short order.

The bill would raise the cap on four existing economic development programs to allow Boeing to receive up to $150 million per year in incentives. If Boeing were to employ 8,000 people, the price tag of the incentives package could hit $1.7 billion.

The plant could generate up to $2.9 billion in tax revenue over 22 years, according to a cost/benefit analysis released by Nixon’s office.

Boeing’s deadline for bids is Dec. 10. At least 11 other states are reportedly vying for the facility.

Read more from the St. Louis Post-Dispatch

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