Missouri Governor Blunt Signs Legislation to Help Foster Economic Growth and Innovation

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June 15, 2007 -- ST. LOUIS – Missouri Governor Matt Blunt today visited the Nidus Center for Scientific Enterprise on the Monsanto campus where he highlighted legislation that will encourage plant and agricultural research in Missouri.

"Missouri is a national leader in the area of plant and agricultural research and we want to continue to lead in this important sector of the economy," Gov. Blunt said. "Missourians have created nearly 100,000 jobs since January 2005. With this legislation we will be even more competitive in promoting research and development and manufacturing allowing Missourians to create even greater economic growth."

Senate Bill 30, sponsored by Sen. Gary Nodler, allows a sales tax exemption for personal property and utilities to be used for agricultural/biotechnology and plant genomics products. The legislation also authorizes a state sales tax exemption for the cost of all utilities, chemicals, machinery, equipment, and materials used in the manufacturing, processing, compounding, mining, or production of a product, and research and development related to manufacturing.

"As the Chairman of the Governors Advisory Council on Plant Biotechnology, and one who is interested in the economic growth of Missouri in this field, I applaud Governor Blunt for signing Missouri Senate Bill 30. His support of this bill is yet another example of his unwavering commitment to improve and expand Missouri's plant science research and commercialization," said Dr. Roger N. Beachy, president of the Donald Danforth Plant Science Center. "Senate Bill 30 reduces the overall cost of research and development for both large and small companies. This in turn will stimulate the industry in Missouri by encouraging businesses to undertake additional research and development initiatives. It also makes Missouri more attractive to companies that are interested in relocating to our state. This bill is part of a winning strategy that the Governor has taken as a mechanism to build the economy of our state by building on the foundation of strong science."

Since January 2005, Missourians have created more than 94,000 jobs. Gov. Blunt has made helping employers and entrepreneurs create good, family-supporting jobs a top priority. Legislative changes he has championed such as real lawsuit and workers' compensation reform combined with innovative new proposals like his Quality Jobs Act have been cited by job creators as reasons for expanding or relocating to the Show-Me State.

Gov. Blunt officially signed Senate Bill 30 into law on June 13, 2007. The effective date of the legislation will be August 28, 2007.

Source: Missouri Governor