The Missouri Science and Innovation and Reinvestment Act (MOSIRA) has been approved by both houses of the Missouri legislature and will be sent to Governor Nixon for his signature.
MOSIRA is landmark technology-based economic development legislation that will foster economic growth and the creation, attraction, and retention of quality jobs related to science and innovation in Missouri. It will enable Missouri to capitalize on its existing assets that make Missouri a national leader in science and innovation.
Thanks to MOSIRA, Missouri will continue its pursuit to be a leader for science and innovation entities to locate and grow in Missouri, which will create new jobs, foster economic growth, and advance scientific knowledge.
The legislation functions by capturing the new growth in state income taxes generated by new employees working in Missouri within designated science and innovation fields and reinvesting this revenue to assure future and continued growth in this important sector of Missouri’s economy.
It’s important to note that funding through the act will not involve the use of existing general revenue funds.
The MOSIRA legislation will become effective 90 days following the Governor’s signature.
To view the bill, click here.
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