Department Of Economic Development Touts Tax Credit Program

The Department of Economic Development has begun awarding state tax credits to organizations helping low-income Missourians. The Family Development Account Program has awarded $2-million in credits, so far, and more is on the way. The $2-million is shared by a St. Louis non-profit organization and another non-profit group in Jefferson City. Under the program, up to $4-million in tax credits could be served up each year to the groups. The organizations will then use the credits as incentives to potential donors who would provide funding to the organizations to help the needy pay for homes or to pay for schooling.