[HISTORY: Adopted 6-8-2009 by Ord. No. 520; amended 8-10-2009 by Ord. No. 523; 4-13-2010 by Ord. No. 549. Subsequent amendments
noted where applicable.]
An enhanced business enterprise will be eligible for the tax abatements provided in § 82.020 of this Ordinance, if the business enterprise meets the criteria established in RSMo. Sections 135.950 through 135.973, and:
A.
The enhanced business enterprise locates, makes improvements, or
expands, within the geographic boundaries of the Lincoln County Enhanced
Enterprise Zone, as designated by the State of Missouri (hereinafter
referred to as the "Zone"), after the date of such designation; and:
1.
The business' activities within the Zone are properly categorized
in one of the following qualifying industries defined in the 1997
edition of the North American Industry Classification System as prepared
by the Executive Office of the President, Office of Management and
Budget ("NAICS"). Any NAICS sector, subsector, industry group or industry
identified in this section shall include its corresponding classification
in subsequent federal industry classification systems:
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11
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Agriculture, Forestry, Fishing and Hunting
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21
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Mining
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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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53
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Real Estate, Rental, and Leasing
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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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Administrative and support and Waste Management and Remediation
Services
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62
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Health Care and Social Assistance
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71
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Arts, Entertainment and Recreation, excluding 7132 - gaming
operations
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81
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Other services, excluding 8131 - religious institutions, or
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2.
The business' activities within the Zone produce value-added
agricultural products as defined in RSMo. Section 348.015 (14).
3.
Headquarters or administrative offices of an otherwise excluded business
may qualify for benefits if the offices serve a multistate territory.
Services industries may be eligible only if a majority of its annual
revenues will be derived from out of state.
Any enhanced business enterprise satisfying the requirements of § 82.010 of this Ordinance will receive a tax abatement in accordance to the New Business or Existing Business Benefit Level Options chart. The tax abatement will be on the new improvements that the enhanced business enterprise makes to its real property within the Zone subsequent to April 12, 2010. The tax abatement shall be limited to 10 years following the date such improvements were assessed, provided the improved properties are used for enhanced business enterprises in the year the abatement is to be made. "Real property" as used in this section shall have the same definition as found in RSMo. Section 137.010.
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New Business Benefit Level Options
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|---|---|
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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 FT employees
- $100,000 (minimum) capital investment Health Insurance at all times,
of which 50% is paid by employer
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50% abatement/10 years
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Additional Abatement Increment Benefits (Payroll Average
must be 70% of County Average)
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New Jobs
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50+ NEW FT employees
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10 points
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100+ NEW FT employees
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20 points
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250+ NEW FT employees
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35 points
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Average Payroll
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Average new payroll at 110% of County average
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10 points
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Average new payroll at 120% of County average
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20 points
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Average new payroll at 130% of County average
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35 points
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Investment
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Capital investment exceeding $10 million
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10 points
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Capital investment exceeding $25 million
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20 points
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Capital investment exceeding $50 million
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30 points
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Capital investment exceeding $75 million
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40 points
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Maximum of 100 points
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100 points = 100% for 10 years
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80 to 95 points = 85% for 10 years
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50 to 75 points = 75% for 10 years
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Below 50 points = Minimum abatement level and term
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Existing Business Benefit Level Options
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|---|---|
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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 FT employees -$100,000 (minimum) capital investment
Replacement Facility -2 new FT employees and $1,000,000 (minimum)
capital investment
Health Insurance at all times, of which 50% is paid by employer
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50% abatement/10 years
|
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Additional Abatement Increment Benefits (Payroll Average
must be 70% of County Average)
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New Jobs
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10+ NEW FT employees
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5 points
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15+ NEW FT employees
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10 points
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25+ NEW FT employees
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20 points
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50+ NEW FT employees
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25 points
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75+ NEW FT employees
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40 points
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150+ NEW FT employees
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60 points
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Average Payroll
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Average new payroll at 110% of County average
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30 points
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Average new payroll at 120% of County average
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40 points
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Average new payroll at 130% of County average
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60 points
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Investment
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Capital investment exceeding $5 million
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10 points
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Capital investment exceeding $10 million
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25 points
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Capital investment exceeding $25 million
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30 points
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Capital investment exceeding $50 million
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40 points
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Capital investment exceeding $75 million
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60 points
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Maximum of 100 points
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85 to 100 points = 100% for 10 years
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65 to 80 points = 85% for 10 years
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50 to 60 points = 75% for 10 years
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Below 50 points = Minimum abatement level and term
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Notwithstanding any provision of § 82.020 to the contrary, no tax abatement shall be granted for a period more than 25 years following the date on which the original Lincoln County Enhanced Enterprise Zone was designated by the Missouri Department of Economic Development.
The provisions of this Ordinance shall be severable. In the
event that any provision of this Ordinance is found by a court of
competent jurisdiction to be unconstitutional, the remaining provisions
of this Ordinance are valid unless the Court finds the valid provisions
of this Ordinance are so essentially and inseparably connected with,
and so dependent upon, the void provision that it cannot be presumed
that the Board of Aldermen would have enacted the valid provisions
without the void ones or unless the Court finds that the valid provisions,
standing alone, are incomplete and incapable of being executed in
accordance with the legislative intent.
All ordinances and parts of ordinances in conflict herewith
are hereby repealed.
This ordinance shall be in full force and effect from and after
the date of its passage.
