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Partnering to Reduce Costs

Because of today’s competitive world, we understand and use the necessary mechanisms to help businesses grow and prosper.  The St. Charles City Economic Development Department can assist in identifying incentive programs for your project. 
  
Examples of some of the incentives are:

State Programs

Missouri Works Program
Program benefits are (a) the retention of the state withholding tax of the new jobs and/or (b) state tax credits, which are refundable, transferable and/or saleable. The program benefits are based on a percentage of the payroll of the new jobs. The program benefits are not provided until the minimum new job threshold is met and the company meets the average wage and health insurance requirements.
 

On-the-Job-Training
Missouri Career Centers - St. Charles County offer On-the-Job Training (OJT) to help your business save hiring and training costs for the new hires.

OJT Overview
Missouir Career Center - St. Charles County is "Your One Stop Business Service Center"

Missouri Linked Deposit
This program offers loan savings of 2 to 3% off typical loan rates for up to five years, thereby helping borrowers lower their interest payments and freeing up their cash flow for other uses.

  
Missouri BUILD
Provides tax credits to certain large projects.  Basic requirements are for manufacturing projects at least $15 million invested over a period of time and a minimum 100 employed; and for qualified non-manufacturing, at least $10 million invested and 500 employed, except for “distressed” areas where only 250 need be employed.
 
Brownfield Redevelopment Program
This Program provides financial incentives for the redevelopment of commercial/industrial sites that are contaminated with hazardous substances and have been abandoned or underutilized for at least three years.
  
Infrastructure Tax Credit Program
Grants a tax credit equal to 50% of any moneys contributed by any taxpayer.  The Contribution must be made to one of three "funds" established by the Board's statutes: the "industrial development and reserve fund," the "infrastructure development fund," or the "export finance fund." Contributions to the "industrial development guarantee fund" are not eligible to receive a credit.
 

Local Programs 

Chapter 100 Tax Abatement
Provides a sales tax exemption on tangible personal property purchased through Chapter 100 bonds for non-manufacturing purchases.  Companies eligible for Chapter 100 bond financing include manufacturing, warehousing, distribution, office, research and development, agricultural processing and services in interstate commerce.
 
Chapter 353 Tax Abatement
Tax abatement is available to for-profit “urban redevelopment corporations” organized pursuant to the Urban Redevelopment Corporation Law.  Tax abatement under the Urban Redevelopment Corporations Law is extended to real property that has been found to be a “blighted area” by the city.
 
CID/NID/TDD
Community Improvement District/Neighborhood Improvement District/Transportation Development Districts all provide assistance for the development or improvement of commercial/industrial sites using a variety of tax based mechanisms. 

Green Point Rating System
The Green Point Rating System (GPRS) awards incentives for building innovation and sustainable practices. The tiered system allows the accumulation of Green Points which may reduce building permit fees.  For more information, contact the Department of Community Development. (636) 949-3222. 

Green Point Rating System Pamphlet
The Green Point Rating System Pamphlet gives an overview of the GPRS incentive program.
 
TIF
Tax Increment Financing permits the use of a portion of local property and sales taxes to assist funding the redevelopment of designated area.
 
Economic Development Center of St. Charles County 
The EDC of St. Charles County finance staff can assist you in determining which financing option is best for your needs:
 
• 504 Loans
• Business Development Fund
• Revolving Loan Fund
• Industrial Revenue Bonds
 
For additional information on what incentives might be available to you through the City of St. Charles please contact the Economic Development office at (636) 949-3231 or on our Contact Us page.