FOR IMMEDIATE RELEASE
Thursday, April 09, 2009

Contact:
Jon Galloway
(573) 751-7595 - Office
(573) 418-2923 - Cell
jon.galloway@treasurer.mo.gov

INVEST IN MISSOURI Receives Initial Senate Approval Legislation reinvests $1 billion in Missouri communities

JEFFERSON CITY - INVEST IN MISSOURI, Senate Bill 542, received initial approval from the full Missouri Senate today.  The legislation includes State Treasurer Clint Zweifel's plan to create and retain jobs and reinvest $1 billion in Missouri communities.

 "Unemployment is at 8.5 percent, 663,000 people lost their jobs in March, and this legislation provides tools to rebuild our economy and put Missourians back to work.  We can enhance small business and farm incentives, reinvest in community banks and we do it at no cost to taxpayers," Treasurer Zweifel said.  "INVEST IN MISSOURI increases reinvestment in Missouri, and I am pleased by the efforts of the senate." 

Sen. David Pearce, R-Warrensburg is the sponsor of the INVEST IN MISSOURI legislation.

"Today, my fellow senators realized the impact of this legislation," Sen. Pearce said.  "Enhancing our economic development opportunities is essential as we move Missouri's economy forward."

SB 542, perfected today, requires one more vote in the senate before moving to House of Representatives. INVEST IN MISSOURI legislation is also in the House as HB 883, and is sponsored by Rep. Tim Flook, R-Liberty.  The Missouri Bankers' Association and Missouri Independent Bankers' Association are also supporters of the legislation.

"Sen. Pearce and Rep. Flook have done an outstanding job handling this legislation," Treasurer Zweifel said.  "If we are going to help Missourians in a real way, we must work in a bipartisan fashion to ensure we create and retain jobs and reinvest in our communities."

INVEST IN MISSOURI Web site: http://www.treasurer.mo.gov/TreasurersEconomicDevelopment.asp

Missouri Linked Deposit Program: http://www.treasurer.mo.gov/LinkedDeposit.asp