Services

·          Small Business Development Assistance

·          State and local permitting assistance

·          Relocation assistance

Tax Credits

·          Missouri Enhanced Enterprise Zone: provides refundable or sellable state tax credits as well as tax abatement to improvements on real property.  State income tax credits are estimated at 2.0% of net increase in payroll and 0.5% net increase in investment (plant and equipment).  The local property tax abatement, unique to Wright County, can be as high as 100% for 3 years, 90% for 2 years, and 75% for 5 years, depending on wages and benefits. 

·          Quality Jobs: a withholdings tax credit based on employment and benefits could return approximately 2-3% of new payroll.  There are additional tax credits for Technology businesses and “High-Impact” projects over 100 jobs. 

·          Rebuilding Communities: 40% State Income tax credit, 40% Specialized Equipment tax credit, 1.5% Individual Income tax credit

·          Loan Guarantee Fee Program: Reduce the costs to small businesses in financing projects by providing tax credits for certain federal loan guarantee programs under SBA & USDA. 

Tax Exemptions

·          Sales/use tax exempted on manufacturing machinery/equipment.

·          Sales/use tax exempted on air and water pollution control equipment.

·          Sales/use tax exempted on materials and supplies used to install exempted equipment.

·          Property tax exemption on business and industrial inventories.

Workforce Training Programs

·          Customized Training Program: This training assistance program is for employers who are creating new jobs or retraining workers through both on-the-job and classroom training.  $700- 1,200 per employee.

·          Welfare to Work Program: Hiring incentive for employers to hire long-term family assistance recipients.  $3,500 first year; $8,500 second year.

·          Work Opportunity Programs: Hiring incentive for employers to hire targeted employees.  $2,400 per year.

Infrastructure Programs

·          Delta Regional Authority Loans & Grants: Federal funds set aside for eight states along Mississippi River delta.  Up to $200,000 grant monies.

·          CDBG Loans & Grants: Federal “pass through” monies for infrastructure and capital projects.  Up to $500,000 for infrastructure.

·          USDA Rural Development:  Funding via loans and grants for infrastructure and facilities. 

·          Missouri Development Finance Board: Infrastructure and economic development funding through grants, loans, and bonding.

Utility Rates

·          New Commercial/ Industrial Load rates:

 Intercounty Electric Cooperative

Laclede Electric Cooperative

Se-Ma-No Electric Cooperative

Low-Rate Financing

·          Wright County IDA RLF: Gap financing for fixed assets, equipment, and working capital with generous terms, rates, and conditions.

·          SCOCOG RLF

·          Electric Cooperative RLFs: Se-Ma-No, Intercounty

·          Rural Missouri Inc: IRP, Micro-loan

·          USDA: B& I Loans

·          SBA: 504 & 7a Loans

·          Industrial Revenue Bond financing