MO: Duke Mfg. Approved for Tax Credits; Help Jobs Creation
17 Jan, 2010
The Missouri Department of Economic Development (DED) has announced approval of state tax credits for a St. Louis business under the Enhanced Enterprise Zone (EEZ) program to assist in the creation of new jobs and investment.
Duke Manufacturing, St. Louis, has been approved for a total of $71,842 in EEZ tax credits over a five-year period for the creation of a total of 12 new jobs and new investment totaling $1,103,500 for two projects. Duke was approved for $34,197 in EEZ tax credits over a five-year period for the creation of nine new jobs and $405,000 in new investment for Building A, 2305 N. Broadway, St. Louis; and $37,645 in EEZ tax credits over a five-year period for the creation of three new jobs and $698,500 in new investment for Building B, located at 2224 N. 10th Street, St. Louis. The business operations at the project facility will be a manufacturing facility.
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.