The State of Missouri is committed to a strong, growing automobile industry. Below are State of Missouri incentive programs that are of interest to Advanced Manufacturing companies like those in the automotive suppliers industry:

Quality Jobs Program

Supplier manufacturing projects that will create at least 100 new jobs above the county average wage and with health insurance could receive benefits up to 7% of the payroll of new jobs each year for 5 years.

Example: 100 new jobs @ $50,000 average wage could result in up to $1.75 million in refundable tax credits and retained withholding over 5 years.

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Missouri Automotive Manufacturing Jobs Act

Qualified manufacturing suppliers projects that create between 5-99 new jobs above the county average wage and with health insurance would receive benefits consisting of the retention of the state withholding tax of new jobs (about 3.2% of new payroll) each year for 3-5 years.

Example: 30 new jobs @$50,000 average wage would result in the retention of $240,000 in state withholding over 5 years.

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Enhanced Enterprise Zone Tax Credits

Manufacturing suppliers located in one of the 100+ “Enhanced Enterprise Zones” that will create at least 2 new jobs (with average wages at least 75% of the county average) and $100,000 in new capital investment may receive refundable tax credits for 2% of new payroll and ½% of new capital investment (limited to $500,000/year), each year for 5 years.

Example: 20 new jobs @ $30,000 average wage and $500,000 new capital investment could result in $72,500 in refundable tax credits over 5 years.

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Rebuilding Communities Tax Credit

Manufacturing suppliers located in a “distressed area” could receive up to 25-40% in tax credits for new manufacturing machinery/equipment.

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Brownfield Redevelopment Tax Credits

A manufacturing supplier may be provided with tax credits of up to 100% of the costs of remediation of hazardous waste in buildings that are abandoned for at least 3 years or are “underutilized” (property has less than 35% of the commercially usable space of the property and improvements thereon, are used for their most commercially profitable and economically productive use).

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