[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.
[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:
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11
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Agriculture, Forestry, Fishing and Hunting
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|
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21
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Mining
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|
|
22
|
Utilities
|
|
|
23
|
Construction
|
|
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31 — 33
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Manufacturing
|
|
|
42
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Wholesale
|
|
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48 — 49
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Transportation and Warehousing
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|
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51
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Information
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|
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52
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Finance and Insurance
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|
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53
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Real Estate, Rental and Leasing
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|
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54
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Professional, Scientific and Technical Services
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|
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55
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Management of Companies and Enterprises
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|
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56
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Administrative and Support and Waste Management and Remediation
Services
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|
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62
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Health Care and Social Assistance
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|
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71
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Arts, Entertainment and Recreation, excluding 7132 — gaming
operations
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|
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81
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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.
[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
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|---|---|
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QUALIFICATION REQUIREMENTS
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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
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|
ABATEMENT LEVEL/TERM
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|---|---|
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ADDITIONAL ABATEMENT INCREMENT BENEFITS (Payroll average
must be 70% of County average)
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|
New Jobs
| |
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50+ NEW FT employees
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10 points
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100+ NEW FT employees
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20 points
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250+ NEW FT employees
|
35 points
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Average Payroll
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Average new payroll at 110% of County average
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10 points
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Average new payroll at 120% of County average
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20 points
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Average new payroll at 130% of County average
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35 points
|
|
Investment
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Capital investment exceeding $10 million
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10 points
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Capital investment exceeding $25 million
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20 points
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Capital investment exceeding $50 million
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30 points
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Capital investment exceeding $75 million
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40 points
|
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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
|
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25+ NEW FT employees
|
20 points
|
|
50+ NEW FT employees
|
25 points
|
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75+ NEW FT employees
|
40 points
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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
| |
[Ord. No. 1122 §§3 —
4, 8-16-2010]
