Missouri chamber endorses Nixon's job-creation plan

Gov.-elect Jay Nixon's proposal to bolster Missouri's economy with new jobs by extending low-interest loans and tax credits to employers has garnered the endorsement of the state's largest business association.

The Missouri Chamber of Commerce and Industry on Monday espoused the six-point economic recovery plan unveiled by Nixon - dubbed the Show Me Jobs initiative - at stops in Kansas City and St. Louis.

The governor-elect enlisted state lawmakers from both parties to promote the bipartisan initiative.

"Gov.-elect Jay Nixon is building the Show Me Jobs initiative on a foundation of proven economic development programs, while adding in some innovative ideas that can make a real difference in turning around the economic downturn in Missouri," chamber President and CEO Daniel P. Mehan said in a news release. "We are encouraged to see his administration make job creation an early priority."

In its current form, Nixon's plan would:

• Provide low-interest loans for small businesses through the Missouri Development Finance Board, which would fund the program with revenue from the 4 percent fee collected on approved tax credits.

• Expand the Missouri Quality Jobs Program, a 2005 initiative by Gov. Matt Blunt's administration to create new jobs with above-average wages and health care benefits.

• Create incentives for worker training and re-training by extending tax credits to employers that would offset a portion of the pre-employment training costs for full-time employees, such as tuition at a community college or vocational school.

• Coordinate state actions with federal efforts to maximize the efficiency of future job-creation initiatives, such as the federal stimulus package being considered by President-elect Barack Obama.

• Establish an Automotive Manufacturing Task Force to ensure that Missouri's autoworkers - primarily in Kansas City and St. Louis - and other industry employees are at the forefront of producing fuel-efficient vehicles.

• Streamline the Missouri Business Use Incentives for Large-Scale Development Program, which provides tax credits to large-scale businesses expanding their in-state operations. Nixon would authorize the state Department of Economic Development to waive this requirement on a case-by-case basis.