Missouri Governor Parson signs GM tax break bill

(Frank Gunn/The Canadian Press via AP, File)

JEFFERSON CITY, Mo. -- Missouri Gov. Mike Parson has signed a business incentive bill aimed in part at enticing General Motors to expand in the state.

Parson signed the legislation Wednesday in his Capitol office.

The measure authorizes up to $50 million of tax credits for General Motors to expand an assembly plant at Wentzville.

It also creates a new college scholarship for adults and gives state economic development officials the ability to give immediate tax breaks to other businesses that agree to add jobs and expand their facilities in the state.

The bill was met with skepticism by a faction of Republicans who derided the deal-closing fund as a "slush fund," but Parson pushed hard for its passage.

A General Motors spokeswoman says the company is still evaluating a potential project in Missouri.