Enhanced Enterprise Zones (Missouri)
Last modified on February 12, 2015.
|Applies to States or Provinces||Missouri|
|Name||Enhanced Enterprise Zones (Missouri)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive, Enterprise Zone|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
|Program Administrator||Missouri Department of Economic Development|
Enhanced Enterprise Zones aim at attracting new businesses or promoting an expansion of existing business in Missouri Enhanced Enterprise Zone. Tax credits will be an amount authorized by DED, based on the state economic benefit, supported by the number of new jobs, wages and new capital investment that the project will create. To qualify, individual business eligibility will be determined by the zone, based on creation of sustainable jobs in a targeted industry or demonstrated impact on local industry cluster development. Service industries can be eligible if a majority of their annual revenues will be derived from services provided out of the state.
Eligibility: To receive tax credits for any of the years, the facility must create and maintain the minimum: - New or expanded business facility – 2 new employees and $100,000 new investment; - Replacement business facility – 2 new employees and $1,000,000 new investment - Company must offer health insurance at all times, of which at least 50% is paid by the employer, to all full time employees in Missouri.
Eligible investment expenditures include the original cost of machinery, equipment, furniture, fixtures, land and building, and/or eight times the annual rental rate paid for the same. Inventory is not eligible.
Tax credits issued under this program are limited to $24,000,000 annually, effective August 28, 2008.
|Department||Missouri Department of Economic Development|
|Division||Division of Business and Community Services, Business and Community Finance Team|
|Address||301 West High Street, Room 770|
|Address 2||P.O. Box 118|
|Place||Jefferson City, Missouri|
Authorities (Please contact the if there are any file problems.)
|Authority 1||Sections 135.950 to 135.973, RSMo|