Incentives

In today’s highly competitive, global economy, officials throughout St. Charles County, metro St. Louis, and the State of Missouri recognize the importance that business incentives can play in retaining or attracting some large-scale business investments.

In St. Charles County, each business project is evaluated on a case-by-case basis. Some of the guiding principles local decision-makers rely on include the goal of creating full-time jobs with County average wages or above, attracting substantial new business investment to the community, strengthening and expanding the tax base, and fostering win-win situations that serve the public good while also fostering meaningful business growth and success in the community.

Some of the main business assistance programs used by various municipalities in St. Charles County include:

Chapter 100

Under State statute, local cities and counties have the authority to issue Chapter 100 industrial revenue bonds (IRBs) for eligible large-scale office, industrial, and commercial development that involves either substantial new job creation and/or new capital investment in the community. Ownership of the development is held by the local government which passes along a negotiated level of local tax abatement to the business who in turn makes payments in lieu of taxes (PILOTS) until the bonds are fully repaid.

Tax Development District (TDD)

A Transportation Development District (TDD) allows local government to establish a special assessment district to finance needed road work, interstate and interchange projects, and other transportation oriented projects that will foster economic development. These funds are repaid by a either by special assessment, additional property taxes or additional sales taxes in the established district.

Community Improvement District (CID)

A Community Improvement District (CID) allows for property or business owners within a specific area to form either a not-for-profit corporation or a political subdivision with the authority to raise funds through special assessment or additional taxes to fund necessary public infrastructure improvements.

Tax Increment Financing (TIF)

Tax Increment Financing or TIF permits the use of a portion of local property and sales tax to assist funding the redevelopment of certain designated areas within a community that are classified as “blighted,” “conservation” or an “economic development” area as defined by Missouri Statutes.

On-the-Job Training (OJT)

The “On-the-Job Training” Program or OJT is administered by the St. Charles County Department of Workforce Development and utilizes state and federal funds to help qualifying businesses by underwriting the salary of new employees by as much as 50% for up to 6 months.

Customized Training Program

State funds in the Customized Training Program are locally administered by St. Charles Community College and can help qualifying area businesses reduce training costs and improve productivity for new and existing full-time employees.

Missouri Linked Deposit

The Missouri Linked Deposit program partners with qualified lenders in Missouri to provide low-interest loans to help create and retain jobs, expand the economy and strengthen communities statewide. The 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 Quality Jobs

The MQJ program is offered through the Missouri Department of Economic Development and allows qualifying businesses to retain payroll withholding taxes when certain levels of new, well-paying jobs with health benefits are created in a two year period.

Missouri BUILD

This State bond program offered through the Missouri Department of Economic Development can assist with public or private infrastructure to support a business project or the new capital improvements at the project location. Eligible business projects involve either $15 million in capital improvements and the creation of 100 new jobs within three years, or over $10 million in capital improvements and 500 new jobs created within three years in a “distressed community.”