Springfield, Missouri The Official Economic Development Site for the Springfield Metro Region

Springfield expands Enhanced Enterprise Zone program

Apr 12, 2010

This week the Missouri Department of Economic Development (DED) approved the designation of a second Enhanced Enterprise Zone (EEZ) in Springfield and Greene County. This new zone significantly expands Springfield’s capability to offer incentives to new and existing companies that are creating jobs and making new investment in our area.

Available benefits under the EEZ include 50% tax abatement on improvements to real property, as well as state tax credits which are saleable and refundable. The tax credit benefits are calculated on payroll and capital investment, and require companies to pay for half of employees’ health insurance premiums.  Also under the EEZ, companies building green buildings (LEED Silver certification or higher) can qualify for 75% real property tax abatement.

The existing EEZ in Springfield was designated by DED in July 2005 and most recently, Kraft Foods Inc. announced that the EEZ assisted an expansion at their local Springfield facility. The addition of two new manufacturing lines represented $9M of capital investment and will create 50 new well-paying jobs at Kraft.

Click here to learn more about economic development incentives available in the Springfield area.  

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