State Tax Incentives

The following is a list of tax incentive programs available through the Missouri Department of Economic Development (DED).

• Sales Tax Exemption for manufacturing machinery and equipment

• Welfare to work Tax Credit

• Work Opportunity Tax Credit

• BUILD Bonds / Tax Credits

• Development Tax Credit

Missouri Quality Jobs Program (Effective 8/28/05)

• Focuses on Small / Expanding Businesses, Technology Businesses, and “High Impact” Businesses

• Jobs created must pay at or above the county average wage

• Benefits include retention of state withholding taxes and state tax credits that are refundable and sellable

• Certain programs cannot be used concurrently with the Quality Jobs Program. These include:

- Enhanced Enterprise Zone Credits

- Business Facilities Credits

• If New Jobs Training Bonds are used, Quality Jobs Program benefits will only be tax credits-not withholding tax

Enhanced Enterprise Zone (EEZ)

• Local seven-member board

• Provides tax abatements on real property ranging between 50% and 100% for a period of not less than 10 years but not more than 25 years

• May provide credits against the state income tax but these are limited and on a “first come” basis

• See “Local” section for details for the Laclede County Enhanced Enterprise Zone

Financial Incentives

• CDBG Action Fund Loans / Guarantees

• CDBG Interim Financing Loans

• Chapter 100 Industrial Revenue Bonds (abatement)

• Tax Exempt Bonds

Workforce Incentives

• Missouri Customized Training Program

• New Jobs Training Program

Local Tax Incentives

General

Lebanon and Laclede County provide a wide choice relative to incentives. The goal is to fashion a “win/win” package. The amount of the incentives is based on the quality and economic impact of the project.

Factors used in calculating the amount of the incentives include:

• Average wages sustained over a 5 year period from date of operation commencement.

• Amount of investment in plant and equipment.

• Value of the fringe benefit package.

• Jobs created or retained.

• Economic impact on the community and return on the public investment.

• Bonus discretionary factors.

More information concerning the Lebanon and Laclede County incentives may be obtained by calling 417-533-5627.

Laclede County Enhanced Enterprise Zone (EEZ)

• Tax abatements on real property ranging between 50% and 100% for a period of not less than 10 years and not more than 25 years determined by the quality of the project.

• State tax credits may also be available.

• Targeted economic sectors by the North American Industrial Classification System (NAICS) codes include:

31-33 Manufacturing

42 Wholesale Trade

48-49 Transportation and Warehousing

51 Information

54171 Research and Development in the Physical, Engineering, and Life Sciences

54194 Veterinary Services (Testing laboratories)

54138 Testing Laboratories

55 Management of Companies and Enterprises (Must be a headquarters of a regional, national, or international company with at least 75% of the operation outside Laclede County and a minimum of 20 employees)

Other Location Resources

Lebanon and Laclede County have four entities that have the ability to build facility for lease or lease/purchase.