The Missouri Department of Economic Development (DED) has announced approval of state tax credits for a St. James business under the Enhanced Enterprise Zone (EEZ) program to assist in the creation of new jobs and investment.
Tacony Manufacturing, St. James, has been approved for $87,248 in EEZ tax credits over a five-year period for the creation of 45 new jobs and $5 million in new investment for an expansion facility located at No. 3 Industrial Park, St. James. The business operations will be a manufacturing facility.
“The Enhanced Enterprise Zone program has proven to be a vital economic development tool that continues to play a leading role in Missouri‘s ongoing economic rebound,” Missouri Department of Economic Development Director David Kerr said. “DED is pleased to utilize this program to assist St. James’ economic development efforts.”
The Enhanced Enterprise Zone program was implemented in 2004. Enhanced enterprise zones are specified geographic areas designated by local governments and certified by the Department of Economic Development. Zone designation is based on certain demographic criteria, the potential to create sustainable jobs in a targeted industry and a demonstrated impact on local cluster development.