MO: Kraft Foods Global Approved for Tax Credits for Jobs Creation, New Investment

11 Apr, 2010

The Missouri Department of Economic Development (DED) has announced approval of state tax credits for a Springfield business under the Enhanced Enterprise Zone (EEZ) program to assist in the creation of new jobs and investment.

Kraft Foods Global, Inc., Springfield, has been approved for $390,050 in EEZ tax credits over a five-year period for the creation of 50 new jobs and new investment of $9 million. The business operations will be manufacturing.

“The Enhanced Enterprise Zone program has proven to be a vital economic development tool that continues to play a leading role in Missouri‘s ongoing economic rebound,” Missouri Department of Economic Development Director David Kerr said. “DED is pleased to utilize this program to assist Springfield’s economic development efforts."

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.