On his first full day in office, Governor Jay Nixon (D-MO) has signed three executive orders aimed at helping to turn around the state’s economy.
The first creates the Missouri Automotive Jobs Task Force, a group of 12 people to be appointed by the Governor to come up with ideas for creating and helping to jobs in the automotive industry and industries that depend on vehicle production. As part of its duties the task force will identify current state economic policies that help or hinder the development of high-tech automobile production facilities.
The second makes Missouri well-positioned to take advantage of all that is offered by the federal stimulus package. It does so by creating the 15-member Governor’s Economic Stimulus Coordination Council to coordinate job creation activities with the Missouri Congressional delegation and the White House,
The third directs the Missouri Department of Economic Development to work with the Missouri Development Finance Board to create a pool of funds for low-interest and no-interest direct loans for small businesses. Nixon believes that with $2 million, the fund would be enough to provide 80 loans of $25,000 each to young small-business owners to help turn things around.