Pleasant Hill Approves Enterprise Zone
Posted By J.T. on August 25, 2009
Last week the Pleasant Hill Council passed Bill no. 09-13, supporting an Enhanced Enterprise Zone (EEZ) and establishing the Board for northeastern Cass County.
EEZs provide tax credits to help develop new and expanding businesses. Tax credits may be provided each year for up to ten years if the business creates a certain number of jobs and spends enough money on “new investment”.
Enhanced Enterprise Zones are specified geographic areas designated by local governments and certified by the Missouri Department of Economic Development (DED). Zone designation is based on certain demographic criteria, the potential to create sustainable jobs in a targeted industry and a demonstrated impact on local industry cluster development.
Mayor Terry Wilson says this is a good thing. “We need to stay competitive with other communities in creating and attracting new jobs.”
From the Pleasant Hill Times:
Unlike tax increment financing (TIF) that also helps in the development and expansion of new and existing businesses, the enhanced enterprise zone is more restrictive and offers state tax credits along with local tax savings.
To earn tax credits, a new or expanding business would have to create at least two new jobs and have at least $100,000 in new investment. Eligible businesses would also have to offer health insurance to its employees of which at leasst 50 percent must be paid for by the employer.”
Earlier in the month, the Cass County Commission proposed the Enhanced Enterprise Zone, and 2 of the 3 County Commissioners have been appointed to the new board. The 7 board members and their respective terms are as follows:
- R-3 School Superintendent Dr. Wesley Townsend, 5 years
- Cass County Associate Commissioner W.J. “Bill” Cook, 5 years
- Cass County Presiding Commissioner Gary Mallory, 4 years
- Pleasant Hill Mayor Terry Wilson, 4 years
- Strasburg Mayor Patricia Ford, 2 years
- Robert Radmacher, 2 years
- Bary Porter, 2 years
The only other EEZ currently in Cass County is in Drexel.
Wait. The county commissioners said Pleasant Hill needed this and now 2 of the 3 guys on the commission are on the new board? I assume they get extra money for being on this board?