- Missouri Business Use Incentives for Large-Scale Development Program provides low-interest loans to qualified borrowers through the issuance of tax-exempt revenue bonds for large economic development projects that may then be eligible for refundable tax credits generated through the financing program for a company engaged in manufacturing, processing, assembly, research and development, agriculture, or interstate commerce investing at least $15 M and creating at least 100 new jobs at the project facility within three years, and, if the project is an office industry such as a regional headquarters, $10 M must be invested and a minimum of 500 jobs created.
- Missouri Infrastructure Development Opportunities Commission Program authorizes the Missouri Development Finance Board to provide local political subdivisions, including public sewer and water districts, with long-term, 3% interest rate loans, loan dollar amounts are between $25,000 and $150,000 and are intended to help rural communities and districts therein struggling to finance infrastructure projects, and loans are offered to partially fund infrastructure improvements prioritizing water, sewer, and safety issues.
- Missouri Works Program offers a mix of retention in state withholding tax for new jobs and/or state tax credits, which are refundable, transferable, and saleable based upon a percentage of the payroll associate with new jobs and are not provided until the company meets minimum job, wage, and healthcare insurance thresholds for businesses creating at least two, full-time jobs and pay between 80% and 140% of the average, county wage dependent upon the location and size of the project.
- Missouri’s Brownfield Remediation 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. For eligible projects, 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 Certificate of Completion has been issued by DNR.
- Local Tax Increment Financing permits a portion of local property and sales taxes to assist in funding the redevelopment of certain designated areas within a community in districts that are classified as blighted, conservation, or economic development, pays professional service studies, land surveys, land acquisition, demolition, rehabilitation, and building infrastructure such as streets, sewers, parking, lighting, and relocation of business occupants, assumes that property and/or local sales taxes will increase in the designated area after redevelopment and a portion of the increase in collected taxes, up to 23 years, may be allocated to help pay project costs.
- Missouri State Supplemental Tax Increment Financing facilitates the redevelopment of blighted areas by providing essential public infrastructure financing, redevelopment project must be in an area designated as blighted, located in an enterprise zone, empowerment zone, urban core area, or CBD, contain at least one building of 50 years of age or older, and the area must have experienced general decline in property taxes over the last 20 years, municipalities may apply for the program when local TIF financing leaves a gap for a redevelopment project, underlying local TIF must dedicate at least 50% of the amount of the new, local sales tax revenue and 100% of the amount of new real property tax revenue created by the project while the state TIF is sought, an applicant may be approved to receive up to 50% of the net new sales tax revenue generated in the area or up to 50% of the increase in state income tax revenue but not both, state TIF may be awarded for up to 23 years and may be used for public works improvements.
- Missouri One Start training is tailored to the unique workforce needs of eligible businesses, large or small, with flexibility in how services are delivered. Workers can receive training from in-house training experts, a preferred training vendor, or one of our training experts located within a community college, state technical college or career technical center. Companies are reimbursed for training expenses once the approved training is complete and paid invoices are received. At no cost to eligible businesses, customized services also include pre-employment screening and recruitment, and designing job-specific training, during or after the onboarding process.
