Rep. Schoeller Touts Job Act

Rep. Shane Schoeller (#139th) is praising legislation passed by the House that eliminates the tax credit limits under two big Blunt administration economic programs.

According to Schoeller, under the current Jobs Act the tax credits typically reach the cap before the year ends. The result is that some proposed projects can’t take advantage of the credits and opt to move to another state where similar incentives are guaranteed.

"Eliminating the limits on tax credits allows our state and local economic development professionals all over the state to work in a frictionless environment to attract and retain quality jobs in Missouri,” said Rep. Richard, chairman of the House Special Committee on Job Creation and Economic Development and sponsor of the legislation.

The Quality Jobs Act was passed in 2005 and targets three areas important to Missouri’s future – small and expanding businesses, advanced technology companies, and high impact projects. The act requires the employer to produce jobs in order to receive state benefits and the more jobs, the greater the benefit. Qualifying businesses are required to create a minimum number of new jobs at competitive wage levels, offer health insurance to the new employees and pay at least half of their health insurance.

"We have witnessed this job growth success in our area with the addition of 43 new jobs at Tuthill Vacuum and Blowers through MQJ and 700 new jobs at T-Mobile through the EEZ program. Together they add an additional 22.3 million dollars in salary locally, and they are quality jobs that pay higher than the average daily wage for Greene County. It is a highly competitive world we live in and we must take every step we can to ensure businesses see Missouri as a place that can offer them the environment and incentives they need to be successful,” said Schoeller.

According to a study to be released later this week, the Quality Jobs program has created more than 12,500 jobs. To date, 104 projects have been approved in Missouri, creating jobs with an average annual wage of $46,856. Total annual wages earned by workers in jobs created by these projects are estimated to exceed $630 million by the fifth year of the program. Total return on the state’s investment is estimated to be $3.18 million in additional state tax revenue for each dollar invested in the program through withholding taxes and tax credits.