Renewable Energy Generation Zone Property Tax Abatement
|Area of Interest||Renewable Energy|
Beginning in August 2011, local areas can be designated as Renewable Energy Generation Zones and receive property tax credits as part of Missouri's Enhanced Enterprise Zone program. Enhanced Enterprise Zones are specified geographic areas designated by local governments and certified by Missouri's 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 industry cluster development.
Tax credits may be provided to new, expanded, or replacement business facilities for up to five tax years after the project commences operations. Eligible investment expenditures include the original cost of machinery, equipment, furniture, fixtures, and land.
|Eligible Organizations||Commercial/Industrial Business|
|How to Apply||The Department of Economic Development must first offer program benefits to the business in the form of a formal proposal. The company must return the accepted proposal within 90 days of the proposal date.|
|For More Information||http://www.ded.mo.gov/BCS%20Programs/BCSProgramDetails.aspx?BCSProgramID=39|
|Primary Contact||Enhanced Enterprise Zone Contact
Missouri Department of Economic Development Division of Business and Community Services
301 West High Street
P.O. Box 118
Jefferson City, MO 65102