One senses a hint of disappointment in the RCGA’s Monday Memo this morning, even though the Missouri Legislature passed an economic development bill that was the St. Louis business group’s main legislative priority. The bill adds $30 million in authorization for two key economic-development tools, the Quality Jobs program and enhanced enterprise zones.

The Monday Memo headline, though, says the legislative session “concludes with Missouri treading water on state economic development programs.” The memo, written by RCGA President Richard Fleming, refers to the $30 million as “short term steps” and says the Legislature should have uncapped the programs completely. It continues:

The just-concluded Session’s modest increases in the Quality Jobs and Enhanced Enterprise Zone programs unfortunately will not allow Missouri’s to catch up to other States’ economic incentive portfolios, nor will it prevent the State from facing the problems it has experienced in recent years of reaching the artificial cap on these two highly successful economic development incentive tools, just as we must go into competition on a deal with other States.

Another disappointment for the RCGA: The Senate killed an $5 million angel investor tax credit that was originally part of the bill. It’s interesting to think about how many startup businesses could have been helped with the $240 million the Legislature approved for Bombardier.