Missouri notes benefit of keeping public money in state

Northwestern Financial Review, Oct 1-Oct 14, 2004

Placing state investment dollars in Missouri banks would increase general revenue funds, create jobs and expand the tax base in the state, according to a study conducted by Joseph H. Haslag of the University of Missouri. The study looked at the trade-offs between treasurers shifting money to liquid out-of-state investments or investing the money in Missouri banks.

"Moving $10 million from out-of-state investments to time deposits in Missouri banks would increase general revenues by about $30,000," said Haslag, with other benefits more than offsetting the lower interest income.