Some Pettis County areas are hoping to lure new businesses through tax breaks. Click to hear KMZU’s Bob Allen talk with Missouri Department of Economic Development Spokesperson John Fougere:
Fougere says under Governor Jay Nixon’s direction, tax incentive programs have been created to stimulate economic growth and investment. The “Enhanced Enterprise Zone” program is one such program. According to Fougere, parts of northern and southern Pettis County have received the designation. The northern zone includes portions of Blackwater, Bowling Green, Cedar, Heath Creek, Houstonia, Hughesville, and Longwood. The southern zone covers Elk Fork, Flat Creek, Green Ridge, Lake Creek, Prairie, Sedalia, Smithton, and Washington township.
In order to fulfill the program’s requirements, incoming businesses need to meet two criteria: create at least two new jobs that pay 75% of the average county wage and invest at least $100,000 in the business. The money invested could cover building costs, land costs, equipment costs or any number of other expenses. Industries across the board, such as manufacturing and service, are being targeted with these tax breaks.