Governor Blunt Pushes Tax Credits for Venture Capital Investments

Governor Blunt wants to encourage more investment in state companies striving for technological breakthroughs. That is why he is calling for the legislature to revisit the proposal that would give tax credits to investors of venture capital – an idea that floundered in the legislature last year. Blunt says under the plan a 30 percent tax credit would be given toward the first 500-thousand dollars of contributions in venture capital, a 40 percent credit would be given if that investment went to a company located in a distressed or rural area and a 50 percent credit would be given to contributors of technology commercialization infrastructure projects, or, expenditures on industrial research. Companies could apply for these tax credits if they prove a loss on their investment. The current venture capitol investment averages $23.60 per employee in Missouri compared to $236 per employee nationally. Blunt says it’s time for Missouri to invest in its own venture capital.