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

Springfield’s Enhanced Enterprise Zone expanded to cover city

Aug 03, 2010

Recently, the Missouri Department of Economic Development approved the designation of an Enhanced Enterprise Zone for a portion of north Springfield, the fourth such designation and last in a series of three new zones requested by the City of Springfield at the start of 2010. The zones allow Springfield to offer incentives to companies that create jobs and make significant investments in our area.

In combination with the first Springfield Enhanced Enterprise Zone designated in 2005, the zones now encompass approximately 158.1 sq. miles, covering all of Springfield and parts of unincorporated Greene County. Springfield’s Enhanced Enterprise Zones cover a large amount of available commercial and industrial property, including an abundance of prime industrial sites available for development.

Available benefits for companies using the zone program 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 request companies to pay for half of employees’ health insurance premiums. Also under the zone program, companies building green buildings (LEED Silver certification or higher) can qualify for 75% real property tax abatement.

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

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