St. Louis (KSDK) - Both have been mentioned as possible presidential candidates, but for now Governors Rick Perry of Texas and Jay Nixon of Missouri are battling in Missouri over which state is better for businesses.
Republican Rick Perry has campaigned for companies to move to Texas in several states. And as his commercials hit the air in Missouri, Democrat Jay Nixon fired back with his own set of facts.
In his ads, Nixon touts Missouri's lower property and sales taxes and that's true, but factor in no income tax in Texas and taxfoundation.org gives the edge to the lone star state.
Nixon also brags on grads and that too is true, if you're talking about college. High school graduation rates are slightly better in Texas.
And Nixon points out that Missouri's unemployment rate beats the national average, also true, but in Texas it's even lower.
Also touting taxes Perry correctly claims no state income taxes in Texas, but again his state has higher property and sales taxes.
He also points to a Forbes Magazine list that puts seven Texas cities in the top 10 of places to do business -- true, but it's a list that predicts performance through 2015.
As for Governor Perry's claim that $40 million leaves Missouri for Texas every year, true says Grow Missouri. The group invited the governor to speak atits event while he was in St. Louis.
Based on data published onhowmoneywalks.com Grow Missouri spokesperson Anne Marie Moy says between the years 1992 and 2010, Missouri lost a total of $791.29M in Adjusted Gross Income (AGI) to Texas, making the 18-year average $43.9M.
Here's where we got the data used in the story:
Taxes by State: Texas
Taxes by State: Missouri
The Chronicle of Higher Education: College Completion
Governing the States and Localities: Data
Window on State Government: Energy Report
Tax Foundation: Combined State and Local Tax Rates
U.S. Department of Labor: Unemployment Rates
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