MIZ Employer Relocation Tax Credit
Implementation Date: April 2027
The Employer Relocation tax credit helps attract new talent to Missouri by assisting qualified employers with employee relocation costs.
The tax credit supports companies locating or expanding within certified Missouri Innovation Zones by providing tax credits for eligible relocation expenses associated with bringing qualified employees to Missouri.
Businesses planning expansion or relocation projects in a certified Missouri Innovation Zone are encouraged to contact the Department of Economic Development early in the planning process.
The tentative implementation date for the Employer Relocation Tax Credit program is April 2027.
MIZ Employer Retention and Reinvestment Incentive
Implementation Date: April 2027
The Employer Retention and Reinvestment program encourages existing companies to remain within or establish a new facility within a certified Missouri Innovation Zones to reinvest in their Missouri operations in the zone and retain quality jobs.
The program provides performance-based incentives to companies making qualifying reinvestments while maintaining their workforce and continuing long-term operations within a certified Missouri Innovation Zone.
Businesses considering significant reinvestment projects are encouraged to contact the Department of Economic Development to discuss program eligibility and application requirements.
The tentative implementation date for the Employer Retention and Reinvestment program is April 2027.
Missouri Innovation Zone Designation
Implementation Date: April 2027
The Missouri Innovation Zone (MIZ) program helps participating cities create vibrant districts that encourage housing, business investment, redevelopment, and community revitalization.
Cities identify a geographic area that encompasses the city’s downtown, primary commercial core or, in the absence of a downtown, a central business district or Missouri Main Street area for which it desires to request certification. A city must develop a comprehensive master plan for the proposed zone identifying redevelopment opportunities, public safety and infrastructure priorities, and strategies for long-term economic growth, and submit an application to the Department for conditional certification of a zone. A city with a conditional certification must adopt, and keep in place for the life of the zone, local policies establishing a one stop shop, which must be a coordinated business, development, and incentive review and approval process for activities within the zone. With specified time constraints and automatic approvals in some instances. As part of the incentive review and approval process, a city must agree to award locally administered development incentives within the zone according to a Master Scorecard.
The tentative implementation date to apply to the department for conditional certification of an MIZ is April 2027.
MIZ Master Scorecard
Implementation Date: July 2027
The Missouri Innovation Zone program includes a comprehensive Master Scorecard component. The department will develop a Master Scorecard that uses objective, measurable, performance-based criteria to evaluate eligible projects when applying for Office-to-Residential incentive and local tax abatement and tax increment financing. The scorecard is based on a 100-point scale with at least five performance tiers. The tier achieved will determine the level of incentive awarded, creating a transparent and consistent framework for evaluating projects.
The tentative date the Master Scorecard will be available is July 2027.
Once fully certified, Innovation Zones or businesses and developers of properties within them become eligible for a variety of state incentive programs designed to attract private investment and support community development.
Municipalities interested in establishing a Missouri Innovation Zone are encouraged to work with the Department of Economic Development throughout the planning and certification process.
Rural Missouri Development Fund
Implementation Date: Pending
The Rural Missouri Development Fund is intended to support community development projects in rural and smaller Missouri communities.
When funded, the program will provide financial assistance for projects that strengthen local communities through investments in housing, workforce development, infrastructure, education, healthcare, public safety, and other community priorities.
Eligible communities and development organizations will be able to apply for funding through a competitive application process administered by the Department of Economic Development.
Funding comes from cities participating in the certified Missouri Innovation Zone Program generating funding for the Rural Missouri Development Fund.