Missouri Science and Innovation Reinvestment Act to fund science and technology economic development programs
Missouri Governor Jay Nixon
December 16, 2009
Gov. Nixon announces innovative plan to bring more science and technology companies to Missouri
ST. LOUIS - Gov. Jay Nixon today outlined a new initiative that will create stable, ongoing funding to attract and retain high-tech scientific and research jobs in Missouri. The Governor detailed this proposal during visits to BRDG Park at the Donald Danforth Plant Science Center in St. Louis and Synbiotics, an animal-health diagnostics company in Kansas City.
The Missouri Science and Innovation Reinvestment Act (MOSIRA) is a key component of the Governor's Missouri First Initiative, a comprehensive legislative proposal designed to get Missourians back to work, educate Missourians for the careers of tomorrow and harness innovation and technology to revolutionize government and business.
"We face tremendous opportunities to transform our economy for the 21st century, and it is vital that we not only bolster our existing high-tech and innovative employers, but also bring more of these cutting edge companies and their 21st century jobs to our state," Gov. Nixon said. "MOSIRA will help us capitalize on the growth of our existing science and technology companies to reinvest in generating further economic growth in the science and innovation industry sectors, which will be crucial to our future Missouri economy."
MOSIRA would create a funding source to spark growth in research and technology enterprises by capturing a small percentage of the growth in state revenue over a base year from a designated group of Missouri science and innovation companies. The monies would then be transferred into the Missouri Technology Investment Fund. The Missouri Technology Corporation (MTC) will administer the funding created by MOSIRA.
The MTC will reinvest the MOSIRA funding to generate further economic growth in the science and innovation industry sectors, with emphasis on biotechnology and life sciences. Funding will be reinvested in a wide range of programs designed to:
- Attract top science talent to Missouri;
- Commercialize scientific research to create new Missouri-based technology companies;
- Recruit and build strategic science infrastructure;
- Create a continuum of capital programs to increase access to risk capital for early-stage technology companies created in or recruited to Missouri;
- Increase technology-focused entrepreneurial activity in Missouri; and
- Establish highly-focused workplace development initiatives.
"Through MOSIRA and our additional Missouri First Initiatives, we will transform the groundwork for our future economy, and investing in 21st century careers will always be an important part of our comprehensive approach," Gov. Nixon said. "I look forward to working closely with legislators in a bi-partisan manner when the General Assembly returns in January to get this vital legislation passed."