JEFFERSON CITY -- The Missouri Senate on Tuesday perfected language in economic development legislation aimed at saving thousands of Missouri jobs.

Sponsored by Sen. John Loudon, R-West St. Louis County, Senate Bill 620 would make changes to Missouri's tax laws in an effort to provide incentives for the Ford Assembly Plant to remain in Hazelwood.

"Even with these changes, no one is guaranteeing that Ford will stay," said Sen. Loudon. "But without them, Ford will definitely be leaving. This bill gives negotiators some important tools to work with."

The legislation would amend current laws related to the BUILD Program incentives, the Enterprise Zone Program, and the Community College New Jobs Training Program.

In addition, the Missouri Department of Economic Development has given preliminary approval to a new Enterprise Zone designation that includes the Ford plant site.

For their part, Ford would be expected to reinvest $500 million over a five-year period and commit to keeping the jobs in Missouri for a period of time.

"I think this is a bold move on our part," Sen. Loudon said. "It's important to Missouri that Ford remain in Hazelwood, but we need them to show a commitment on their part."

Businesses in 29 counties in the state provide products for Ford. The Missouri Department of Economic Development estimates that approximately 10,000 jobs would be lost - both directly and indirectly - as a result of the shutdown of the Ford plant. That would result in the loss of more than $500 million in wages.

"It's far easier to keep an existing customer, then to go out and get a new one," said Sen. Loudon. "The repercussions of losing the Ford plant would be felt statewide for many years to come. When a business this size disappears, there are ramifications that we can't even imagine."

The Hazelwood Ford Plant opened in 1948, and currently assembles the Ford Explorer. In January 2002, the Ford Motor Company announced a restructuring plan that would close five plants throughout the country, including the one located in Hazelwood, over the next several years.

In March of that year, Gov. Bob Holden appointed a 22-member task force made up of community leaders, politicians and business people to develop a plan to encourage Ford to keep the Hazelwood plant open. Many of the recommendations of this task force are included in SB 620.

"This piece of legislation is an example of what can be accomplished when community leaders and local and state governments work together," Sen. Loudon said.

SB 620 needs another Senate vote before being sent to the House of Representatives for consideration.