$400K in DED tax credits issued locally

Four southwest Missouri organizations from West Plains to Joplin are in line for nearly $400,000 in tax credits issued by the state Department of Economic Development.

In the latest round of tax credit approvals, the largest amount is going to Boys & Girls Clubs of Springfield, according to DED news releases.

The Springfield nonprofit is among eight statewide approved for $1.3 million combined in Youth Opportunities Program tax credits. Boys & Girls Clubs, along with Cardinal Glennon Children’s Medical Center in St. Louis, has been approved for $250,000 in YOP tax credits.

Recent approvals through the state’s Small Business Incubator Tax Credit Program total $500,000.

The eFactory, a business incubator run by Missouri State University in downtown Springfield, has been approved for $95,110. The Ozark Foothills Business Incubator in Poplar Bluff was approved for $114,699, the leading amount.

The business-incubator applicants have committed $1 million each in local investment, according to a news release. According to the DED, the funds leveraged by these credits must be used for capital and other nonoperating expenditures, and all contributions must be received by the incubator by Dec. 31.

Small-business incubator tax credits issued:

• Ozark Foothills Business Incubator in Poplar Bluff, $114,699
• The eFactory in Springfield, $95,110
• Life Sciences Business Incubator Center in Columbia, $76,466
• Center for Emerging Technologies in St. Louis, $71,515
• Direct Impact Business Education Center in St. Louis, $71,114
• Joseph Newman Business & Technology Incubation Center in Joplin, $38,233
• Independence Regional Ennovation Center in Independence, $16,879
• Ozarks Small Business Incubator in West Plains, $15,984

Administered by the DED, the YOP provides tax credits to organizations completing positive youth development or crime prevention projects. The bulk of the YOP tax credits were issued to entities in the St. Louis area:

• Boys & Girls Clubs of Springfield in Springfield, $250,000
• Cardinal Glennon Children’s Medical Center in St. Louis, $250,000
• Epworth Children & Family Services Inc. in St. Louis, $249,857
• UrbanFuture in St. Louis, $209,245
• St. Luke Community Christian Center in Lexington, $155,676
• Children’s Home Society of MO in St. Louis, $150,000
• St. Louis Art Works in St. Louis, $35,000
• Guardian Angel Settlement Association in St. Louis, $25,000