Missouri HB1659 establishes a grant program to support companies converting facilities to produce strategic materials.
Missouri HB1659 creates the "Missouri Defense and Energy Independence Act," establishing a grant program within the Department of Economic Development. The program aims to assist qualified companies in converting their facilities to produce strategic materials essential to defense or energy resilience. Qualified companies must submit a conversion plan, demonstrate a minimum private capital investment of $500,000, and comply with state labor, environmental, and tax laws. The program includes a dedicated fund for grants, with an annual appropriation limit of $10 million.
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