WENTZVILLE, Mo. (KMOV.com) - The State of Missouri is looking at giving up to $50 million in tax credits to automaker General Motors for a possible $1 billion expansion in Wentzville.
Governor Mike Parson will meet with Wentzville leaders Wednesday to discuss a possible massive expansion and the proposal state lawmakers are working on.
According to a spokesperson for Parson’s office, the state is looking at a 10-year package which would award the automaker $5 million each year for five years if GM makes at least $500 million in investments to the Wentzville plan. The plan would extend another five years contingent on another $250 million in investment.
Lawmakers in Jefferson City are working on a proposal but need to move quickly as the session ends on May 17. Parson believes it will get done and has assured the mayor of Wentzville they’re working on it.
“It’s huge, GM has expanded several times in the area, it’s about protecting jobs,” said Wentzville Mayor Nick Guccione.
Missouri is competing with other states for the expansion but a spokesperson for GM will not expand on what the possible expansion could look like in terms of size, scope or number of jobs.
“No decision has been made on a future investment for Wentzville. There are several factors that go into making these decisions, including the overall business case for a project, discussions with state and local community officials and discussions with the United Auto Workers (UAW). GM leadership is awaiting outcomes on these three elements of the business case before making any final decisions regarding potential investment,” said Kim Carpenter, of GM Communications.
GM has shuttered plants across the country, laying off thousands. Some of those workers have been transferred to other plants including the Wentzville plants.
“This expansion would mean that GM id here to stay, its viability, sustainability, for these jobs are here to stay,” said an optimistic Guccione.
The package being put together by state leaders is expected to also include elements of the Governor’s job training proposal and elements of infrastructure improvement plans.