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Economic Development defends $8.5M for Missouri Technology Corporation, pushes reshoring grants for chips and APIs
Summary
Missouri Department of Economic Development and the Missouri Technology Corporation (MTC) asked the budget committee to continue funding state venture and ecosystem grants, to support CHIPS semiconductor reshoring and active pharmaceutical ingredient (API) reshoring programs, and to maintain federal SSBCI spending authority.
Missouri Department of Economic Development officials told the House Budget Committee they recommend continued state-level investments to grow high‑tech entrepreneurship, reshore semiconductor and pharmaceutical manufacturing, and maintain federal spending authority for state venture programs.
Jack Scottizzi, executive director of the Missouri Technology Corporation, said MTC operates two program tracks: competitive grants to entrepreneurial support organizations and state‑sponsored venture capital co‑investments. “We launch grants on a nearly quarterly basis,” Scottizzi said, adding that…
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