MO: DED awards $177,300 in Enhanced Enterprise Zone tax credits to Witte Brothers Exchange
9 Aug, 2010
TROY – The Missouri Department of Economic Development (DED) has announced approval of state tax credits for a Troy business under the Enhanced Enterprise Zone (EEZ) program to assist in the creation of new jobs and investment.
Witte Bros Exchange has been approved for $177,300 in EEZ tax credits over a five-year period for the creation of 11 new jobs and new multi-million dollar investment for the expansion facility located at 580 Witte Industrial Exchange, Troy. The business operation will be a warehouse/distribution 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.