Brownfield Redevelopment Program (Missouri)
Last modified on February 12, 2015.
|Applies to States or Provinces||Missouri|
|Name||Brownfield Redevelopment Program (Missouri)|
|Policy Category||Financial Incentive|
|Policy Type||Personal Tax Incentives|
|Affected Technologies||Concentrating Solar Power, Energy Storage, Fuel Cells, Solar Photovoltaics, Wind energy|
|Program Administrator||Missouri Department of Economic Development|
Brownfield Redevelopment Program provides financial incentives for the redevelopment of commercial/industrial sites that are contaminated with hazardous substances and have been abandoned or underutilized for at least three years. The Department of Economic Development(DED)may issue tax credits for up to 100% of the cost of remediating the project property. DED will issue 75% of the credits upon adequate proof of payment of the costs; the remaining 25% will not be issued until a clean letter has been issued by DNR. The tax credit may also include up to one hundred percent of the costs of demolition that are not directly part of the remediation activities. State tax credits may also be issued for non-remediation demolition costs. The total state costs for providing tax credits must be less than the projected economic impact, as determined by the DED.
|Department||Missouri Department of Economic Development|
|Division||Division of Business and Community Services, Business and Community Finance Team|
|Address||301 West High Street, Room 680|
|Address 2||P.O. Box 118|
|Place||Jefferson City, Missouri|
Authorities (Please contact the if there are any file problems.)
|Authority 1||Sections 447.700 to 447.718, RSMo|