JEFFERSON CITY – The Missouri Department of Economic Development (DED) today announced that 10 Missouri small business incubators have been approved for a total of $500,000 in state tax credits under the Small Business Incubator Tax Credit program (Incubator). The tax credits will leverage $1 million for the local incubators.
The funds leveraged by these credits must be used for capital and other non-operating expenditures and support new business creation throughout the state. Missouri ranks No. 1 nationally in new business creation, according to the U.S. Census Bureau, and Missouri’s new business creation recently surged by an impressive 16 percent while most states saw a decrease.
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