GOV
Governor Nixon signs a bill designed to help keep NGA in St. Louis
The bill would allow for additional tax increment financing for the site located in North St. Louis
This article is 9 years old. It was published on June 23, 2015.
Missouri Governor Jay Nixon has signed a bill to help keep the National Geospatial-Intelligence Agency (NGA) in St. Louis, along with thousands of high-paying jobs.
The bill increases the amount of tax increment financing available. Under the law, Missouri will be able to contribute up to 50% of withholding revenues from the NGA, or $12 million per year. Right now, the state has a cap of $32 million in TIF per year, according to the bill.
NGA has outgrown its current location in south St. Louis.
It is currently considering whether to locate a new one-billion-dollar western headquarters and more than 3,000 jobs in Missouri or Illinois.
A decision is expected next year.
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Department:
Office of the Comptroller
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Topic:
Taxation and Revenue
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