All month long, Missouri Partnership is taking a look back at some of Missouri’s biggest stories in economic development from the past year. Today we are taking a look back at Missouri’s deal closing fund for company investments.
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 earlier this year it got even better with a new deal closing fund.
Previously, the program offered benefits in the form of 100% 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 would likely qualify.
Now, 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.
Check out our full coverage on the fund here.