Missouri’s Department of Economic Development recently released a list of the members of the statewide Steering Committee for 2010 Strategic Initiative for Economic Growth (hat tip: Missouri Watchdog).
Because it has more business leaders than bureaucrats, hopefully this committee will propose solutions that are more market-driven than government-driven. Unfortunately, I can’t say the same for the new Tax Credit Review Commission.
Additionally, I am pleasantly surprised to see that only a small minority of the committee members work for companies that have been issued state tax credits since 2000. Of the 40 individuals listed, I could only find four that received any. According to the “Show-Me: Tax Credits” application:
- Wells Fargo Advisors has received $2.5 million in tax credits for development.
- Global Velocity has received $150,000 in tax credits through the Rebuilding Communities program.
- Walsworth Publishing received $2.292 million in tax credits through the EZ – Enterprise Zone program in 2001 and $15,068 through the Youth Opportunity Program between 2001 and 2002.
- Washington University received $2 million in tax credits New Enterprise program between 2002 and 2005.
Hopefully, this means that they will be more willing to reduce or eliminate expensive targeted tax credit programs in Missouri.
