Missouri awards $7.6 million in tax credits to support community development projects

JEFFERSON CITY, Mo., (KBSI) — The Missouri Department of Economic Development will award more than $7.6 million in tax credits to 44 organizations statewide through the Neighborhood Assistance Program.

The program provides partial state tax credits to businesses that contribute to approved community improvement projects, supporting job training initiatives, crime prevention, education, and community service projects.

Governor Mike Kehoe praised the program, saying it “helps secure our state’s prosperous future” and supports organizations dedicated to helping others.

A total of up to $16 million is awarded annually, with projects limited to $250,000 in 50% tax credits and $350,000 in 70% tax credits.

This year’s credits were awarded in two rounds, with priority given to projects in underserved areas providing critical services.

The full list of recipients and projects is available online.

Michelle Hataway, Director of the Department of Economic Development, highlighted the program’s impact, saying it “enhances the efforts and mission of numerous Missouri non-profit organizations”