Grow Me State Initiative

SCIENCE AND INNOVATION REINVESTMENT ACT

NEED AND PURPOSE

To provide Missouri with a 21st Century job growth strategy focusing on high-growth industries
To foster economic growth and the creation, attraction, and retention of quality jobs
To leverage and expand on Missouri’s existing strengths in science and innovation
To provide a predictable, stable source of funding for building the entrepreneurial infrastructure necessary to support the growth of science and innovation companies in Missouri
To establish an environment where new Missouri-based companies can grow and existing employers can compete and succeed in Missouri due to the state’s commercialization and entrepreneurial strengths.

INVESTMENT OPPORTUNITIES

Give Missouri the wherewithal and flexibility to capitalize on opportunities to transform Missouri’s statewide and regional economies
Focused on creating, attracting, retaining, and growing science and innovation companies in Missouri.
Projects that promote job growth from Missouri’s strengths in science and innovation. Types of possible projects include:

Commercializing research and innovations to create new Missouri-based technology companies
Helping existing employers compete and succeed in MO while creating new high-paying jobs
Ensuring that adequate private financing, including venture capital, is available for emerging companies
Addressing the physical infrastructure needs of science-based companies, including incubators, lab space, research parks and district development
Workforce training to meet the demand for skilled workers at all levels of Missouri’s science and innovation companies
Attracting and retaining scientists, entrepreneurs, regulatory experts, and others with expertise critical to the success of Missouri businesses
Promoting the relocation of companies to Missouri based on an attractive entrepreneurial environment

FUNDING MODEL

Captures a small percentage of the new growth in gross wages generated by employees working in Missouri within designated science and innovation fields; does not create any new taxes
Revenue is reinvested to assure future and continued job growth and increased economic activity
Funding through MOSIRA will NOT involve the use of existing general revenue funds and future funds flow through the traditional appropriation process
MOSIRA establishes a base year level for existing state revenue from science and innovation jobs and only new revenue above the base line will fund strategic reinvestments

GOVERNANCE

Reinvested strategically with expert advisory board counsel in science and business to ensure that funded projects are science-based and have the greatest potential return to the citizens of Missouri

SUPPORT

Supported by wide ranging coalition from across the state; businesses, academic institutions, workforce & community groups