S

t. Louis and its famous arch mark the gateway to the west. The prominent arch was erected to commemorate the westward exploration and expansion by the Lewis and Clark expedition. Today the arch may stand as a new gateway for Missouri's Life Sciences Industries, and new opportunities for Missouri's businesses.
     During his last term in office, the late Governor Mel Carnahan officially designated the life sciences industries as one of Missouri's lead industries. The Missouri legislature initiated tax credits for life sciences industries in excess of US$1 million in exemptions.
     Missouri's new Governor, Bob Holden, has pledged to continue funding and support for Missouri's new Life Science industries. The state currently offers incentives including sales tax exemptions, a research tax credit and a new enterprise tax credit. Holden proposes using 20 percent of the state tobacco settlement funds towards the Life Sciences Industries and he believes this will have a lasting effect on Missourians everywhere.
     Currently, Missouri is home to more than 100 life sciences companies, and more are on the way investing in research and facilities. In 1999 capital investment in the state increased by 117 percent, according to Pricewaterhouse Coopers' MoneyTree Report.
     "The life sciences will strengthen our economy through the high wage jobs and industry growth they create," said Holden. "Studies have demonstrated that the return on our investment in life science health research is now more than 15 to 1."