(KMOV) – In Fenton, the former Chrysler plant is about 50 percent demolished, but now there are big hopes for new jobs at the site.
Area lawmakers are proposing bills that might bring business to the area.
Those bills were filed Thursday in Jefferson City to create an enhanced enterprise zone not only of the old plant site, but across Interstate 44 to the industrial park where Chrysler sub-contractors have gone out of business.
The plant site is being demolished currently, but that is not a problem because tearing it down would be a prerequisite for redevelopment.
Here’s how the legislation would work: the state would give prospective businesses a three year Missouri state tax abatement as an incentive to locate in the area and bring jobs. The jobs would have to be well-paying with health benefits.
While some may wonder if this is a good time to be giving tax breaks, Representative Mike Leara says he thinks there will be an appetite for this plan. “It’s not an incredibly large tax credit that we are trying to provide. These are not hundreds of millions of dollars we’re trying to provide like the land development project that have been so controversial,” says Leara.
Sponsors of the bill believe it has a decent chance of passage because it’s not a massive amount of money, it has a three year end date and St. Louis is considered a big economic engine for the state.