Modifies tax incentives for qualified companies to promote industrial manufacturing and infrastructure projects

HB 990 allows Missouri manufacturing companies to retain state tax withholdings for 5-6 years when creating new jobs that meet specific wage and investment thresholds. To qualify, companies must create 10+ new jobs with wages ≥90% of local averages (or 2+ jobs in rural/designated zones with $100k+ investment), or meet larger thresholds for existing businesses. Additional tax credits (up to 6% of new payroll annually) are available for qualifying projects, with caps on total benefits per company and annual state spending. The bill includes safeguards requiring project continuation, clawback provisions if commitments aren’t met, and prohibits overlapping tax benefits with other state programs.