City of Troy, MO
Lincoln County
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Table of Contents
Table of Contents

Section 617.010 Establishment.

[Ord. No. 1106 §1(A), 8-17-2009; Ord. No. 1122 §1, 8-16-2010]
The enhanced business enterprise locates, makes improvements or expands, within the geographic boundaries of the Lincoln County Enhanced Enterprise Zone, as designated by the State of Missouri (hereinafter referred to as the "zone"), after the date of such designation.

Section 617.020 Types of Businesses Eligible.

[Ord. No. 1106 §1(A)(1 — 3), 8-17-2009; Ord. No. 1122 §1, 8-16-2010]
A. 
The business' activities within the zone are properly categorized in one (1) of the following qualifying industries defined in the 1997 Edition of the North American Industry Classification System as prepared by the Executive Office of the President, Office of Management and Budget ("NAICS"). Any NAICS sector, subsector, industry group or industry identified in this Section shall include its corresponding classification in subsequent Federal industry classification systems:
11
Agriculture, Forestry, Fishing and Hunting
21
Mining
22
Utilities
23
Construction
31 — 33
Manufacturing
42
Wholesale
48 — 49
Transportation and Warehousing
51
Information
52
Finance and Insurance
53
Real Estate, Rental and Leasing
54
Professional, Scientific and Technical Services
55
Management of Companies and Enterprises
56
Administrative and Support and Waste Management and Remediation Services
62
Health Care and Social Assistance
71
Arts, Entertainment and Recreation, excluding 7132 — gaming operations
81
Other services, excluding 8131 — religious institutions
B. 
The business' activities within the zone produce value-added agricultural products as defined in Section 348.015(14), RSMo.
C. 
Headquarters or administrative offices of an otherwise excluded business may qualify for benefits if the offices serve a multi-state territory. Services industries may be eligible only if a majority of its annual revenues will be derived from out-of-state.

Section 617.030 Property Tax Abatement.

[Ord. No. 1106 §2, 8-17-2009; Ord. No. 1122 §2, 8-16-2010]
Any enhanced business enterprise satisfying the requirements of Section 617.010 of this Chapter will receive a tax abatement in accordance to the new business or existing business benefit level options chart. The tax abatement will be on the new improvements that the enhanced business enterprise makes to its real property within the zone subsequent to April 12, 2010. The tax abatement shall be limited to ten (10) years following the date such improvements were assessed, provided the improved properties are used for enhanced business enterprises in the year the abatement is to be made. "Real property", as used in this Section, shall have the same definition as found in Section 137.010, RSMo.
NEW BUSINESS BENEFIT LEVEL OPTIONS
QUALIFICATION REQUIREMENTS
ABATEMENT LEVEL/TERM
Minimum requirements — As determined by DED:
2 new FT employees — $100,000.00 (minimum) capital investment.
Health insurance at all times, of which 50% is paid by employer.
50% abatement/10 years
ABATEMENT LEVEL/TERM
ADDITIONAL ABATEMENT INCREMENT BENEFITS (Payroll average must be 70% of County average)
New Jobs
 
50+ NEW FT employees
10 points
100+ NEW FT employees
20 points
250+ NEW FT employees
35 points
Average Payroll
Average new payroll at 110% of County average
10 points
Average new payroll at 120% of County average
20 points
Average new payroll at 130% of County average
35 points
Investment
Capital investment exceeding $10 million
10 points
Capital investment exceeding $25 million
20 points
Capital investment exceeding $50 million
30 points
Capital investment exceeding $75 million
40 points
Maximum of 100 points
100 points = 100% for 10 years
80 to 95 points = 85% for 10 years
50 to 75 points = 75% for 10 years
Below 50 points = minimum abatement level and term
EXISTING BUSINESS BENEFIT LEVEL OPTIONS
QUALIFICATION REQUIREMENTS
ABATEMENT LEVEL/TERM
Minimum requirements — As determined by DED:
2 new FT employees — $100,000.00 (minimum) capital investment.
Replacement facility — 2 new FT employees and $1,000,000.00 (minimum) capital investment.
Health insurance at all times, of which 50% is paid by employer.
50% abatement/10 years
 
ABATEMENT LEVEL/TERM
ADDITIONAL ABATEMENT INCREMENT BENEFITS (Payroll average must be 70% of County average)
New Jobs
10+ NEW FT employees
5 points
15+ NEW FT employees
10 points
25+ NEW FT employees
20 points
50+ NEW FT employees
25 points
75+ NEW FT employees
40 points
150+ NEW FT employees
60 points
Average Payroll
Average new payroll at 110% of County average
30 points
Average new payroll at 120% of County average
40 points
Average new payroll at 130% of County average
60 points
Investment
Capital investment exceeding $5 million
10 points
Capital investment exceeding $10 million
25 points
Capital investment exceeding $25 million
30 points
Capital investment exceeding $50 million
40 points
Capital investment exceeding $75 million
60 points
Maximum of 100 points
85 to 100 points = 100% for 10 years
65 to 80 points = 85% for 10 years
50 to 60 points = 75% for 10 years
Below 50 points = minimum abatement level and term

Section 617.040 Additional Provisions.

[Ord. No. 1122 §§3 — 4, 8-16-2010]
A. 
Notwithstanding any provision of Section 617.030 to the contrary, no tax abatement shall be granted for a period more than twenty-five (25) years following the date on which the original Lincoln County Enhanced Enterprise Zone was designated by the Missouri Department of Economic Development.
B. 
Unless otherwise noted, the terms in Sections 617.010, 617.020, and 617.030 of this Chapter shall have the same meanings as stated in Section 135.950, RSMo.