Neosho, Newton County receive approval for new enterprise zone

The boundaries of the new zone include northeastern and southern parts of the city, along with unincorporated areas along the east, south and southwest.

The Enhanced Enterprise Zone program was created in 2004. It allows for the creation of tax credits for businesses that locate or expand in specified geographic areas.

The Neosho/Newton County zone will have a 25-year lifespan. Eligible businesses can receive tax credits based on job creation and investment for up to 10 years.

“I applaud Neosho and Newton County leaders for working together to make this program available, particularly to parts of the community that have found it more difficult to attract investment and create jobs,” Gov. Matt Blunt said in a news release. “The Enhanced Enterprise Zone program will help further support this southwest Missouri community’s economic development efforts and give them a competitive advantage in attracting new business opportunities.”

Neosho originally received enterprise zone status in November 1990 under the former program, which began to sunset after Dec. 31, 2004. Facilities already in the former program will continue to receive state tax incentives as provided by the former law.