Missouri Bids $880 Million For Bombardier CSeries Plant
Missouri Gov. Matt Blunt's administration wants the state's legislature to provide Bombardier Aerospace with up to $40 million each year for the next 22 years ($880 million in sum) if the company builds a $375 million assembly plant near Kansas City International Airport. Once the facility begins producing Bombardier's new CSeries of 110-seat and 130-seat airliners, the state expects to recoup its money. Tuesday, the bill that carries the plan passed the state's Senate with a 140-8 vote and moved to the House. Currently, the depressed value of the U.S. dollar works in Missouri's favor, making the location more attractive to Bombardier. The potential 2,000 jobs offering average salaries near $55,000 makes Bombardier more attractive to Missouri. Still, Missouri must beat out Bombardier's own Canada for the deal, and the projected repayment schedule has yet to be released.
Tax-refundable credits offered to the company would be repaid by Bombardier by roughly 2013, the same year the company is expected to begin production, and ultimately equal initial incentives offered by the state. Details are still in the works.