Benefit Levels for Eligible Companies
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Qualification Requirements
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Abatement Level/Term
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Minimum requirements—As determined by DED: 2 new full-time
employees and $100,000.00 (minimum) capital investment
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50% abatement/10 years
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Additional Abatement Increment Benefits
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Investment
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Capital investment exceeding $1 million
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5% additional abatement
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Capital investment exceeding $3 million
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10% additional abatement
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Capital investment exceeding $5 million
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15% additional abatement
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Capital investment exceeding $10 million
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20% additional abatement
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Capital investment exceeding $15 million
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25% additional abatement
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Existing eligible business investment $1 million or more
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Consideration of up to 25% additional abatement
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STIPULATIONS
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Eligible companies are required to pay at least the Lafayette
County average wage (pertains to new jobs only)
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Real property tax abatement for this program are discretionary
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Qualifying improvements must be used for industries or clusters
of industries eligible under Section 135.950(9)(b), RSMo., and identified
at the discretion of each governing authority having jurisdiction
within the Higginsville Enhanced Enterprise Zone as an Enhanced Business
Enterprise. The City of Higginsville has designated industries with
the following NAICS Codes as Enhanced Business Enterprises within
the City Limits of Higginsville.
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11
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Agriculture, Forestry, Fishing and Hunting
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22
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Utilities
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23
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Construction
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31—33
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Manufacturing
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42
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Wholesale
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48—49
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Transportation and Warehousing
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51
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Information
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52
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Finance and Insurance
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54
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Professional, Scientific and Technical Services
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55
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Management of Companies and Enterprises
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56
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Administration and Support and Waste Management and Remediation
Services
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72
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Accommodations and Food Services
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The following NAICS sectors are specifically excluded: retail
trade (NAICS sectors 44 and 45); Educational Services—61; Gaming
(NAICS 7132); food and drinking places (NAICS subsector 722); Religious
organizations (NACIS industry group 8131); and Public administration
(NAICS sector 92); and provided further that service industries may
be eligible only if a majority of the annual revenues will be derived
from services provided out of the State. Qualifying improvements shall
remain at least fifty percent (50%) exempt from ad valorem taxes for
a period of not less than ten (10) years following the date such improvements
are first assessed, but in any event no later than twenty-five (25)
years following the date of the original designation of the Higginsville
Enhanced Enterprise Zone.
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