Governor Says Missouri's Economy is Turning Around
Ozarkfirst.com
Wednesday, May 18 2011
Governor Jay Nixon says the state's economy is "going in the right" direction as he helps open a new business in St. Louis County.
Gallus Biopharmaceuticals purchased a 15-acre, 200,000 square foot facility from Centocor Biologics in the St. Louis suburb of Berkeley. Gallus hired 160 Centocor employees and will add about another 160 jobs over the next five years.
The average salary at the facility will run about $88,500. The state kicked in $14.6 million dollars in incentives which Gallus can cash in over the next ten years if they meet the criteria for the various programs.
"This significant investment in job creation and growth is a significant step forward for both St. Louis County and the state of Missouri," Nixon said in a statement posted on his website. "This investment is another strong sign that Missouri's economy is clearly headed in the right direction."
The announcement follows close on the heels of news that Missouri's unemployment rate dropped to 8.9 percent in April, the lowest figure in two years.
Economic development figures also show that 27,000 more jobs were added to the state's economy between March and April.
