The eFactory awarded $75K in state tax credits

The Missouri Department of Economic Development awarded The eFactory $75,000 in tax credits.

The credits through the DED’s Small Business Incubator Tax Credit program are designed for capital and other nonoperating expenditures. Donors can receive the state tax credits in exchange for contributions made to Missouri State University’s downtown business incubator by Dec. 31.

“We have been effective in leveraging our tax credits,” eFactory Director Brian Kincaid said this morning. “It really provides us an opportunity to reinvest in programs.”

Capital improvements made through tax credit donations include upgraded information technology infrastructure within the Robert W. Plaster Free Enterprise Center that houses The eFactory and improvements to meeting and event spaces, as well as seminar rooms and the building’s atrium, Kincaid said.

The eFactory has received state tax credits from the DED in each of the years it’s been open. In 2013, the business incubator received $155,330 in credits, followed by $95,110 in 2014 and $71,750 last year, according to Springfield Business Journal archives. Kincaid said The eFactory has come close but never reached the full amount of tax credit sales in past years.