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Missouri Ag Director welcomes tax credit extension

Missouri Ag Director Chris Chinn says the $40 million ag tax credit package, recently signed into law by Governor Parson, will provide much needed support for the state’s agricultural industry.

“These tax credits have been a huge benefit to our rural economy throughout their existence,” Chinn said. “They have a great return on investment, and it’s really one of the best economic tools our rural communities have.”

Chinn tells Brownfield the new six-year extension provides certainty to farmers and ranchers. The Governor vetoed a two-year tax credit extension earlier this year.

“To get a project from start to finish, on average it takes three years,” Chinn said. “The two years just did not allow some of these new businesses to get up and get running, especially with the supply chain challenges that are out there right now.”

The plan was approved by the Missouri Senate on the final day of this year’s special session.