The Missouri Department of Economic Development has approved state tax credits under the Enhanced Enterprise Zone program for Farmland Foods, Inc. of Kansas City.
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 11500 Ambassador Drive.
The department has reserved tax credits for a five-year lifespan in the amount of $272,871 based on Farmland Foods’ projection of two new jobs and new investment of $10,575,059.
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.
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