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House Committee passes bill that would give Ford tax breaks to stay in Hazelwood

April 28, 2003
By: Elizabeth Gill
State Capital Bureau

The House Job Creation and Economic Devlopment committee passed a bill that would give Ford tax breaks in an effort to keep a plant open in Hazlewood.

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The committee passed the bill which would offer Ford tax credits in addition to workforce devlopment programs.

The programs would be designed to make employees more efficient.

In exchange for the incentives, Ford would have to invest at least a half a billion dollars in the state.

The bill's sponsor, Republican Senator John Loudon, says Ford is expected to close if the state fails to offer a proposal:

Actuality:Loudon 102
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Contents: "We do know if we do nothing Ford is pretty much gone. If we do act, we need some tools with which to act."

Joe Driscol, the director of economic development, says over 26 hundred jobs would be affected in Hazelwood if the plant closes.

He estimated over 7 thousand jobs would be lost state wide.

From the state capitol, I'm Elizabeth Gill, KMOX news.

The House Jobs Creation and Economic Development Committee sent a bill to the House floor which offers Ford tax breaks to stay in Hazelwood.

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Patrick McKean, the project director of the Ford Hazelwood task force, says the state would lose 2 billion dollars in economic gain if the plant closes.

He says the issues for Ford are taxes and transportation costs.

But Committee member Yaphett El-Amin slammed Ford for failing to name an exact price:

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Contents: "This is the most vague process I've ever heard. Nobody can give you a number of what Ford is needing to stay open and if it's about money then they should have a number that they can say this is what I need."

McKean says Ford won't name a price because the company fears punishment by Wall Street on its stock price.

But he says he is confident the proposal is in the ballpark of what the company needs.

Ford would only get the incentives if the company agrees to certain terms, such as a $500 million investment in the state.

From the state capitol, I'm Elizabeth Gill, KMOX news.

The House Job Creation and economic devlopment committee passed a bill that would give Ford financial incentives to stay in Hazelwood.

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The bill would offer Ford tax breaks and workforce devlopment programs to increase efficiency.

In exchange Ford would be required to invest at least a half a billion dollars in the state.

The state's director of economic devlopement Joe Driscoll says the bill is not a guarantee Ford will stay, but without an incentive Ford will definitely leave:

Actuality: Driscol101
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Contents: "What we do know is if we do not get legislation passed, if we do not have the tools to help retain these jobs they will not stay open in Hazelwood and they will not continue to benefit the state of Missouri."

Driscol estimates over 2 thousand jobs would be lost in Hazelwood alone if the plant closes.

Statewide Drisol estimates over 7 thousand jobs would be lost.

From the state Capitol, I'm Elizabeth Gill, KNOX news.