The Missouri Department of Economic Development has approved state tax credits, under the Enhanced Enterprise Zone program, for Webco, Inc. in Springfield, Mo. The program will help support economic development efforts and create jobs by providing state and local benefits to companies that expand or locate in the zone. The zone’s boundary will include the facility located at 3300 E. Pythian St., Springfield, Mo.
The Webco, Inc. EEZ will have a five-year lifespan and will receive up to $415,963 in tax credits for the creation of 150 new jobs at an average wage of $27,310 and new investment of $2 million.
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.
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