MO: Two Companies Garner Tax Credits to Expand, Create MO Jobs
17 Jul, 2012
The Missouri Department of Economic Development (DED) announced that a Springfield plumbing wholesale company has been approved for state tax credits under the Enhanced Enterprise Zone (EEZ) program.
Queen City Winnelson Company has been approved for $22,202 in Enhanced Enterprise Zone tax credits over a five-year period. The company is using the incentive to expand its existing facility while creating eight new jobs and making and new capital investment of $345,000.
"The new investment and job creation by this innovative Missouri company is excellent news for the Springfield economy," Gov. Nixon said. "We will continue to fight every single day, for every single job, to keep our economy moving. Adding these new jobs is a great step forward."
The Missouri Department of Economic Development (DED) also announced that a Kansas City commercial bakery has been approved for state tax credits under the Enhanced Enterprise Zone (EEZ) program.
Farm to Market Bread Co. is expanding its operations and moving to a new facility, creating three new jobs and making new capital investment of $1.3 million. To help the company with its expansion plan, the state of Missouri has authorized an economic incentive package that includes $42,715 in Enhanced Enterprise Zone program tax credits over five years for a replacement facility located at 11 E 20th Street, Kansas City.
“This new investment and job creation is good news for the Kansas City economy,” Gov. Nixon said. “The increasing demand for its products has led Farm to Market Bread Company to outgrow its current facility and hire three more hardworking Missourians, while increasing its investment into the local economy. This is just further evidence that my administration will continue to strive every single day to create jobs in every corner of our state.”
The Enhanced Enterprise Zone program was implemented in 2004. Enhanced enterprise zones are specified geographic areas designated by local governments and certified by the Department of Economic Development. Zone designation is based on certain demographic criteria, the potential to create sustainable jobs in a targeted industry and a demonstrated impact on local cluster development.