Investors are being asked to comment on an application form for a new tax credit program.
State lawmakers approved an enhancement to the federal New Market Tax Credit program during the special legislative session. The state will add $15 million a year to lure investment to economically depressed areas; primarily the urban core or rural areas.
State Deputy Economic Development Director Mike Mills says the public has until Wednesday, October 10th, at 5pm to comment on the application form . Mills says the department wants the application to be consumer-friendly, but also understands that it must safeguard taxpayer dollars. It also must comply with state and federal law.
Mills says the federal government created the program to lure investment to areas that are struggling economically. He says that often is the urban core, but also can be rural Missouri which can also struggle to lure investment dollars.