Missouri Economic Leaders Give Glimpse of How $2.6 Billion in Federal Pandemic Funds Will be Spent

Missouri’s Department of Economic Development (DED) recently previewed how Gov. Mike Parson plans to allocate the state’s $2.6 billion portion of federal pandemic funds.

In late December, Maggie Kost, acting director of the DED, outlined major priorities for Missouri’s portion of the more than $195 billion in American Rescue Plan Act (ARPA) funds. A total of $350 billion will be delivered to the 50 states and the District of Columbia and local and Tribal governments throughout the nation to support the response and recovery from the COVID-19 pandemic. The total amount of ARPA funds, passed in March 2021, is $1.9 trillion.

“We want to give you an idea of what to expect as we get into the legislative and budget session here in January,” Kost said. “As you’re planning and setting priorities locally for communities, we want to make sure you have an idea of what’s to come so you can think about how to leverage state funds as you’re building out your local priorities.”

Parson is expected to reveal his allocation of ARPA funds during his State of the State address on Jan. 19. Shad Burner, the director of federal initiatives for the DED, said Parson requested and collected proposals from various state government departments during the last few months. ARPA funding, included in the state budget process, will be available on July 1, the first day of the 2023 fiscal year. Federal guidelines state all funds must be allocated by the end of 2024 and spent by the end of 2026…. (Excerpts from the Virginia Star)