Missouri Board OKs $15M in Tax Credits for St. Louis Stadium

stadium

JEFFERSON CITY, Mo. (AP) – A Missouri board has approved $15 million in tax credits for a new St. Louis football stadium, part of a push by the state to counter efforts by Rams owner Stan Kroenke to move the team to Los Angeles.

The Missouri Development Finance Board voted for the credits Tuesday as the first step in a potential $50 million tax-credit plan over three years.

The approval came despite pushback from Republican Lt. Gov. Peter Kinder, a board member who is running for governor. Republican Rep. Jay Barnes of Jefferson City also spoke against it. He and other lawmakers are suing to block the state from taking steps to finance a stadium without legislative approval.

Dave Peacock, co-lead with Bob Blitz on Missouri Gov. Jay Nixon’s STLNFL task force, released the following statement after today’s approval by the Missouri Development Finance Board:

“The benefits of a new NFL stadium in downtown St. Louis are clear, not only to our metropolitan region but the entire state of Missouri as well. That was underlined today by the approval for $50 million in tax credits by the Missouri Development Finance Board. We appreciate the board’s support as we continue to make meaningful and measurable progress toward keeping the St. Louis Rams here in St. Louis.”

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Source: KMOX