John Deere Shared Services is planning an $11.5 million expansion at its Springfield facility, due in part to a five-year state tax credit.
The company was approved to receive more than $341,000 in Enhanced Enterprise Zone tax credits during a five-year period, for expansion of its Springfield factory, 4500 E. Mustard Way in the Partnership Industrial Center. The expansion will create 75 jobs, according to a Missouri Department of Economic Development news release.
John Deere is the latest in a string of Springfield-area companies receiving EEZ credits. Boyd Aluminum Manufacturing Co. in Springfield, Kraft Food Inc.'s Springfield operations and Service Vending Co. in Aurora have all been approved for EEZ money
since February, and Webster County added its own Enhanced Enterprise Zone
in an effort to lure businesses.
The EEZ program, started in 2004, specifies geographic areas for development based on demographic criteria and the potential for sustainable jobs in a targeted industry, according to the release.[[In-content Ad]]