The Department of Economic Development (DED) announced today that it will award more than $9 million in tax credits through the Neighborhood Assistance Program (NAP) to 46 organizations for community development projects statewide.
“The Neighborhood Assistance Program is supporting organizations that provide essential services for Missourians,” said Governor Mike Parson. “We’re pleased to strengthen communities through this program and look forward to seeing these awards improve lives across our state.”
A total of up to $16 million is awarded through NAP annually, with projects limited to $250,000 in 50% tax credits and $350,000 in 70% tax credits. Credits for this fiscal year were awarded in two rounds, with this being the second round that opened in August 2023. Eligible applicants include nonprofit organizations, educational institutions, and businesses that meet program requirements. During the Fiscal Year 2024 cycle, tax credits were reserved for organizations providing critical services, with priority given to projects located in previously underserved areas of the state. A total of more than $15.3 million in tax credits was awarded among both rounds of the cycle.
The full list of 2024 Round 2 NAP recipients and projects is available here.
“Recipients of the Neighborhood Assistance Program are creating positive change for communities statewide,” said Michelle Hataway, Acting Director of the Department of Economic Development. “We’re proud to partner with each of these organizations as they carry out their inspiring work and help Missourians prosper.”
About the Neighborhood Assistance Program (NAP)
Administered by the Division of Business and Community Solutions, NAP helps nonprofit organizations leverage private-sector funds by providing partial state tax credits to businesses that make contributions to approved community improvement projects. The program can help fund job training initiatives, crime prevention, community service projects, and revitalization of community-based buildings and areas. For more information, including upcoming application cycles, eligibility criteria, and frequently asked questions, visit the NAP webpage.
About the Missouri Department of Economic Development
The Missouri Department of Economic Development (DED) works to create an environment that encourages economic growth by supporting Missouri’s businesses and diverse industries, strengthening our communities, developing a talented and skilled workforce, and maintaining a high quality of life. As one team built around the customer and driven by data, DED aspires to be the best economic development department in the Midwest. Through its various initiatives, DED is helping create greater opportunities for Missourians to prosper.
For the latest updates on DED’s current or future programs and initiatives, visit DED’s website.