St Louis seeks tax benefit
18 / 04 / 2012
A REVISED proposal giving companies shipping freight out of Lambert/St Louis International Airport (US) tax breaks moves a step closer to being finalised.
Missouri House of Representatives – the lower chamber of the state legislature – has given its initial approval for a bill to allow up to US$60m in tax credits over several years for firms using the Mid-western airport.
The legislation, which still needs another vote to move to the Senate, was first presented as part of a major plan to improve business opportunities – including transforming the airport into an international cargo hub.
However, it was never passed because the House and Senate could not agree.
Meanwhile, the county council has recently agreed to use $3m of casino tax revenue designated for improving roads to subsidise freight forwarders using the airport.
The move was made possible after the state agreed to divert federal funds allocated for developing homes devastated by the 2008 Mississippi floods to plug the shortfall.