Gov. Matt Blunt announced this week that the Missouri Department of Economic Development has approved Enhanced Enterprise Zone status for the city of Carthage and part of Jasper County.
The Enhanced Enterprise Zone program will help development efforts and create jobs by providing state and local benefits to companies that expand or locate in the zone.
“I applaud the leaders in Carthage and Jasper County for working together to make this program available to attract investment and create jobs,” Blunt said. “The Enhanced Enterprise Zone program will help further support the city and county’s economic development efforts and give them a competitive edge in attracting new business opportunities.”
The new zone’s boundaries will include areas that have higher levels of distress, due to recent job migration, and less investment in residential and commercial property. The seven member board will utilize the program to broaden economic development opportunities throughout the city and parts of the county.
The new zone’s boundaries will include areas that have higher levels of distress, due to recent job migration, and less investment in residential and commercial property. The seven member board will utilize the program to broaden economic development opportunities throughout the city and parts of the county.
The new enhanced enterprise zone will have a 25-year lifespan. Eligible businesses that locate in the new zone can receive state tax credits based on job creation and investment for up to 10 years. The tax credits must be used in the tax year issued or the business has the option of selling the tax credits or receiving a refund for the unused balance.
For information on the program, contact the Economic Development office in the Carthage Chamber of Commerce. They can be reached at (417) 358-2373.
