Bill > HB755

This bill creates the Missouri Advanced Manufacturing Recruitment Act, which establishes a tax credit program designed to incentivize large-scale manufacturing investments in the state. Specifically, the bill allows qualified manufacturing companies to receive tax credits of up to 20% for capital investments of at least $1 billion and the creation of 500 or more new jobs, with 150 of those jobs reserved for Missouri residents. The tax credits can be claimed over a five-year period, with credits awarded in four equal installments as investment milestones are met. The total annual tax credit pool is capped at $200 million per fiscal year. Companies must apply through the Missouri Department of Economic Development, which will evaluate applications based on factors like economic impact, project size, job creation, and financial stability. The bill includes provisions for transferring credits, reporting requirements, and an expedited approval process for companies relocating manufacturing operations from countries designated as foreign adversaries, particularly China. The program is set to begin on January 1, 2026, and will automatically sunset after ten years unless reauthorized by the state legislature.

Business and Industry, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB755&year=2025&code=R