Tax credits approved for Ozark Main Street, manufacturer

The Missouri Department of Economic Development has approved the credits, which will be authorized at 50 percent based on a $1 million contribution to the Main Street program. Taxpayers who make cash or property donations to Ozark Main Street will be eligible for the credits.

Approval is contingent on finalization of a contract between Simclar, DED and the Main Street program.

Ozark Main Street will use the donations to purchase real estate and equipment that will be leased to Simclar. Simclar is providing an estimated $6 million in private investment, relocating 110 jobs and adding 12 new full-time jobs, according to a DED news release.

Simclar assembles circuit boards mostly for Internet-related companies. The company previously operated in Springfield under Northrup Grumman Electronic Systems, but it was sold to Scottish company Simclar Goup Ltd. in 2006. The company moved to its Ozark facility earlier this year.[[In-content Ad]]