The Missouri Department of Economic Development awarded nearly $83,000 in tax credits to the Efactory in downtown Springfield.
The Efactory, which was selected to receive $82,689, is one of four organizations statewide selected for tax credits through the Small Business Incubator Tax Credit program, according to a news release.
“We’re proud to support organizations that foster growth of new businesses,” said Maggie Kost, acting director of the DED, in the release. “Entrepreneurship is vital to our economy, and Missouri’s incubator programs are encouraging the continued development of innovative companies. Contribution credits provided through this program help ensure that businesses start strong, grow and create opportunities for Missourians in the future.”
Through the program, Missouri taxpayers can receive tax credits in exchange for contributions to approved incubators.
The state additionally awarded $100,000 in tax credits to the Life Sciences Business Incubation Center in Columbia; $85,000 to the Black Economic Union of Greater KC in Kansas City; and $76,326 to the Ozarks Small Business Incubator in West Plains, according to the release.
The city of Springfield has released a draft of its comprehensive plan for the next 20 years.