North Springfield gets Enhanced Enterprise Zone status

The Missouri Department of Economic Development approved Enhanced Enterprise Zone designation for a portion of north Springfield, according to an announcement Tuesday.
 
The 20.7-square-mile North Springfield EEZ will allow city officials to continue to move forward with economic development efforts, according to a DED news release.

The new zone is the third approved in Springfield since April, according to previous Springfield Business Journal coverage. A 63.4-square-mile Southeast Springfield EEZ was approved April 2, while the state approved a 6-square-mile area in west Springfield received EEZ status May 13.

The city requested the status for all three areas in January, according to previous coverage.

"These zones greatly help Springfield to be competitive with other communities of our size," Springfield Senior Planner Matt Schaefer said. "It's one of our key incentives that we use for commercial and industrial development. We've greatly expanded our ability to attract business to Springfield and to retain jobs."

The EEZ program, created in 2004, offers tax credits to businesses in specific geographic areas that meet certain criteria, including the potential to create sustainable jobs in target industries.