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Webco gains tax credits in exchange for expansion

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Springfield’s Webco Inc. will receive up to $415,963 tax credits for its facility expansion, the Missouri Department of Economic Development announced today.

The department approved state tax credits under the enhanced enterprise zone program for Webco, which in March announced its plan to relocate to a facility inside the zone at 3300 Pythian St.

The zone has a five-year lifespan, and the company will receive the tax credits in exchange for the creation of 150 jobs at an average wage of $27,310 and new investment of $2 million.

The state’s enhanced enterprise zone program began in 2004. Zones are specified areas based on certain demographics and their potential to create jobs and spur development.

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