DED awards $19,500 in Neighborhood Assistance Program tax credits

January 19, 2017

Contact: Division of Business and Community Services

               (573)751-4539

 

JEFFERSON CITY, Mo.—The Missouri Department of Economic Development (DED) approved a total of $19,500 in tax credits under the Neighborhood Assistance Program (NAP) for the Cuba Development Group.

NAP helps not-for-profit organizations raise private-sector funds by providing partial state tax credits to businesses that make contributions to approved community improvement projects.

Donations received as part of this NAP project will be directed to the Cuba Development Group for the construction of a monument in Cuba, Mo., which will commemorate the Osage Nation’s history in Missouri. This monument is expected to boost tourism and generate revenue through increased sales taxes and patronization of local establishments throughout the region.

Businesses can donate cash, materials, supplies or equipment; technical assistance and professional services; labor; real estate; or stocks and bonds. Credits can equal up to 50 percent of the total amount contributed or up to 70 percent for projects located in the most rural areas.

In support of this project, the Cuba School district has incorporated a unit on the history of the Osage Nation as a component of the Missouri history curriculum for their fourth and eighth grade classes.

Not-for-profit organizations participating in the NAP program conduct capital campaigns or provide services in the areas of crime prevention, education, job training, physical revitalizations or community services. The NAP is utilized by not-for-profit organizations throughout Missouri to make their communities a more desirable place to live and work, as well as pave the way for economic development.

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