Tax credits aid Tuthill's Springfield expansion plans

The Missouri Department of Economic Development has approved $150,000 in development tax credits that will assist in the expansion of Tuthill Corporation in Springfield. The expansion will retain 155 jobs, create 78 new jobs and lead to a $16 million investment.

The tax credits, as requested by the Springfield Business and Development Corporation, will help offset a donation made to Tuthill, and will leverage the company's expansion. The donation was made in the form of equipment, which will be leased back to Tuthill to equip the new location.

"The development tax credit is a valuable incentive the state offers to businesses interested in expansion or relocation," said Department of Economic Development Director Joseph L. Driskill, in a news release.

"The investment and new jobs created as a result of Tuthill's expansion is well worth the state's assistance. We are pleased to be partnering on this project that will provide a boost to both the local and the state economy."

Tuthill Corporation, at 4840 Kearney St., employs 155 workers who manufacture pneumatic blowers, vacuum boosters and blower systems for the pharmaceutical, petrochemical and food-processing industries.

The expansion includes the relocation of product lines from the company's Canton, Mass., location. Tuthill has more than 20 locations worldwide.

The Development Tax Credit Program offers state tax credits up to 50 percent of a donation to eligible donors who make contributions to a not-for-profit corporation, which uses the cash to purchase certain assets and then leases them to a business.