Supporters of creating a so-called 鈥淎ngel Investment鈥� tax credit in Missouri testified in favor of legislation Wednesday before a committee.
would provide incentives to wealthy investors, dubbed 鈥淎ngels,鈥� who are looking for start-up opportunities, preferably in high-tech and Internet-based businesses. was one of several witnesses hoping to persuade committee members to approve the bill.
鈥淓very other state that surrounds the state of Missouri, other than Tennessee, offers this program," James said. "Whether you鈥檙e in St. Louis or Springfield or Hannibal, wherever entrepreneurs are, the state nearest you outside of this state is offering something that we don鈥檛 have.鈥�
A vote on the bill is expected later. Meanwhile, the sponsor, (D, Kansas City and Callaway County), also had the Angel Investment language added to the that won first-round approval early Wednesday morning in the Missouri Senate. That version contains a six-year sunset and caps incentives at $6 million a year. Justus says those provisions will also be added to the stand-alone version of the bill.
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