The Missouri Department of Economic Development has approved Enhanced Enterprise Zone (EEZ) status for FedEx Ground Package System, Inc. in Kansas City.
The Enhanced Enterprise Zone will allow FedEx Ground to expand its courier operations.
The new facility, located at 12501 Northeast 40th Street, will provide small package transportation services to business and residential locations. The company will use $1,553,855 in EEZ tax credits to create 119 new jobs.
FedEx Ground Package System’s enhanced enterprise zone will have a five-year lifespan. Eligible businesses that locate in the new zone can receive state tax credits based on job creation and investment for up to 10 years. The tax credits must be used in the tax year issued or the business has the option of selling the tax credits or receiving a refund for the unused balance.
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 industry cluster development.
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