Missouri Works is the state’s economic development program designed to support companies considering Missouri as a place to expand to and grow their business. And now it’s got even better with a new deal closing fund.
The program already offers benefits in the form of 100 percent retention of state withholding tax and includes refundable, transferable, and sellable tax credits for qualified companies. So long as you provide health insurance and cover at least 50 percent of the premium, and your wages are high enough, you will likely qualify.
But wait, there’s more. And we’re talking more than just a new set of Ginsu knives. Thanks to Missouri leadership, the benefits that used to be spread over a number of years can now be awarded in year one. Yes, that’s right. Missouri now has a deal closing fund because we are willing to invest in your growing company, because we know the investment you will make in Missouri will create good paying jobs and transform the lives of Missouri residents.
Not all companies will qualify for this year one benefit, but in highly competitive expansion projects, Missouri now has the ability to ensure that your investment is profitable from day one. This is what they call a win-win-win scenario. Your company wins when you can manage costs and shorten your ramp up time. The Missouri residents you employ win. And Missouri wins from the jobs you create.
This new economic development incentive puts Missouri in the running with other states who have “deal closing” funds, and when you combine this with our statewide, seamless customized training, our automotive incentives, and our competitive corporate income tax rate of 4 percent, we might just leap to the front of the pack as we can now use existing dollars more strategically to win your project while also ensuring Missouri taxpayers are protected.
Reach out today, and let us close your next expansion deal.