The BUILD program is available to help companies embark on major investment and job creation expansions, provides low-interest loans to qualified borrowers through the issuance of tax-exempt revenue bonds for the acquisition, construction, and equipping of qualified manufacturing production facilities and/or equipment.
Do I Qualify?
An eligible industry in manufacturing, processing, assembly, research and development, agricultural processing or services in interstate commerce must invest a minimum of $15 million; or $10 million for an office industry(regional, national or international headquarters, telecommunications operations, computer operations, insurance companies or credit card billing and processing centers) in an economic development project; and
Create a minimum of one hundred new jobs at the project facility within 3 years or a minimum of five hundred jobs if the project is an office industry or a minimum of two hundred new jobs if the project is an office industry located within a distressed community as defined in Section 135.530, RSMo .
Ineligible: Retail, health or professional services, intra-state relocations or replacement facilities
For more information about the BUILD Program, contact the Missouri Development Finance Board.
How Do I Apply?
- Department submits proposal with benefits to compan.
- Company accepts proposal.
- Company submits application for benefits to department and to the Missouri Develonment Finance Board (MDFB) at least two weeks prior to the MDFB board meeting.
- Department prepares formal recommendation to the MDFB.
- Company presents proiect to the MDFB board meeting (typically the 3rd Tuesday of every month).
- MDFB evaluates project.
- MDFB board formally approves project at second meeting and schedules a closing.
- MDFB and company then close on the bonds.