State approves $67,000 in tax credits for two companies in Springfield

LeggettWood Springfield, a division of Carthage-based Leggett & Platt, will receive $19,095 in state tax credits in exchange for creating six jobs and a capital investment of $300,000.

The bedding component manufacturer’s 739 E. Commercial St. facility is located in an Enhanced Enterprise Zone, which provides the credits as an incentive for development.

Central States Industrial Equipment & Service, also located in the zone at 2700 Partnership Blvd. in Partnership Industrial Center, will receive $48,134 in state tax credits. The pipe fabricator plans to add 10 jobs and invest $725,000.

The Missouri Department of Economic Development credits approved LeggettWood’s tax credits Sept. 13 and CSI’s Sept. 12. The tax credits must be used in five years.

An Enterprise Zone provides the opportunity to apply for state incentives in exchange for a company’s expansion or relocation to the zone. The state’s enhanced enterprise zone program began in 2004. Zone areas are specified based on certain demographics and their potential to create jobs and spur development.