Missouri Minute: MTC funding takes hit in budget plan; proposed Mexican import tax could be ‘very poor’ for Missouri consumers

Here are today’s top business headlines from across Missouri:

State role in startup investing takes hit in budget plan

A state fund responsible for helping to jump-start small businesses throughout Missouri faces a nearly 80 percent funding cut under Gov. Eric Greitens’ proposed spending plan. The Missouri Technology Corporation, a public-private partnership that provides seed money for tech startups, would see its budget shrink to $5 million in the fiscal year beginning July 1 from the current $22.9 million. Read more

Trump’s proposed Mexican import tax could be ‘very poor’ for Missouri consumers

Missouri businesses may not fare well if a 20 percent tariff on Mexican imports is established to pay for the southern border wall promised by President Donald Trump. Mexico is one of Missouri’s largest foreign trading partners, accounting for about 17 percent of all the imports to Missouri (valued at about $3.3 billion) and about 18 percent of exports from the state (about $2.5 billion) in 2015, according to data from the U.S. Census Bureau. Read more

St. Louis soccer stadium, MetroLink plans approved by Board of Aldermen

The St. Louis Board of Aldermen on Friday passed legislation that would ask voters in April whether to increase the city’s sales tax and use a corresponding rise in the local use tax to build a soccer stadium. A spokeswoman for Mayor Francis Slay, who plans to immediately sign the bills, said the city would on Friday afternoon ask the St. Louis Circuit Court to put the measures on the April ballot. Read more

Hardware company leases distribution facility in KC area, will bring in 315 jobs

Spectrum Brands Hardware and Home Improvement will consolidate two outstate distribution facilities into a single facility in Edgerton, Kansas, bringing 315 jobs to the Kansas City area. Read more

State lawmaker offers funding solution for UMKC downtown arts campus

Conspicuously absent from Gov. Eric Greitens’ budget was any allocation of funding toward the University of Missouri-Kansas City’s long-sought downtown arts campus, but a Clay County Republican has an idea for getting $48 million in public funds for the project. Rep. Noel Shull recently introduced a resolution that would authorize the Missouri Health and Educational Facilities Authority to issue up to $48 million in bonds as the state’s share for UMKC’s $96 million effort to build a downtown arts campus. Read more

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