The eFactory approved for state tax credits

The Missouri Department of Economic Development approved Springfield’s The eFactory for $71,750 in tax credits.

The business incubator at Missouri State University’s Robert W. Plaster Center for Free Enterprise and Business Development is one of eight across the state given the green light for a combined $500,000 in state tax credits, according to a news release.

DED’s Small Business Incubator Tax Credit program is designed to give facilities fostering startup growth funding to be used for capital and other nonoperating expenditures. Any taxpayer can contribute to the incubators to gain tax credits.

Contributions to The eFactory for the credits must be made before Dec. 31.

Other recipients for credits were:

• LifeSciences Business Incubator Center in Columbia, $95,385;
• Center for Emerging Technologies in St. Louis,$91,539;
• Kit Bond Science and Technology Incubator in St. Joseph, $79,819;
• Ozark Foothills Development Association in Poplar Bluff, $57,396;
• Ozarks Small Business Incubator in West Plains,$52,000;
• Joseph Newman Business & Technology Incubation Center in Joplin, $31,795; and
• Direct Impact Business Education Center in St. Ann, $20,316.