The Missouri Department of Economic Development has approved $200,000 in Development Tax Credits for the National Association of Intercollegiate Athletics (NAIA) for donations made to the Economic Development Corporation of Kansas City Charitable Fund.
The donations made to the EDC Charitable Fund will assist in purchasing computer equipment and fixtures for the NAIA’s new headquarters office facility.
The development tax credit is a valuable incentive the state offers to businesses interested in expansion or relocation. The NAIA will create $1,371,600 in private investment and create 26 new jobs within two years.
“We are proud that the NAIA now calls Missouri home,” said DED Director Greg Steinhoff. “These resources will help facilitate job growth and secure needed equipment to operate an effective organization”
“We appreciate the strong support on the NAIA project from Governor Blunt, Director Steinhoff and our partners at MODED,” Jeff Kaczmarek, president & CEO of the EDC of Kansas City added, “and look forward to welcoming our new neighbors to a revitalized downtown Kansas City.”
The Development Tax Credit Program is a discretionary incentive the state can offer in the form of tax credits – up to 50 percent of a donation – to eligible donors who make contributions to a not-for-profit corporation, which uses the cash to purchase certain assets and then leases them to a business.
The tax credits are issued after the donation is made and other specific guidelines of the project are met.
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