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Locating
your business in Union makes sense:
-
One of the lowest cost electrical utilities in the
nation.
- Interstate
44 serves Union and Franklin County
- Retail
sales in Union, since 1998, have increased annually
at rate higher than the state average.
- Union
has the area’s highest Missouri Department of
Transportation traffic counts at Hwy 50/Hwy 47. One
day count, October 2004, of 35,000 vehicles.
- Daimler/Chrysler
is located 30 miles east of Union. General Motors
is less than an hour away in Wentzville. Ford also
has a manufacturing facility one hour away. Numerous
other automobile manufacturers are within a day’s
drive. Union would be a WONDERFUL location for first
or second tier manufacturers that service the automotive
industry.
- UPS
operates a local distribution hub.
- All
of Saint Louis’ amenities within less than an
hours drive.
Financial
Incentives
The
Union Board of Aldermen, a progressive government body,
realizes the importance of providing good paying, stable
employment for the citizens of Union and the region.
That being said, Union would be willing to sit down
with you and your company to discuss possible local
incentive packages. You can be assured that your company
and its needs will be given full attention.
Franklin County is currently offering the following loan
program:
Franklin County Revolving Loan Fund (RLF) - Provides
short and long term financing opportunities to
individuals and companies within Franklin County,
Missouri. The goal of the FCRLF will be to assist
eligible areas in the retention, expansion and creation
of private sector employment opportunities.
The
State of Missouri offers the following incentive packages:
Small Business Loan Program -
Missouri businesses with five employees or fewer may
apply for loans of between $2,500 and $25,000. The loans
are typically repaid over a ten-year term and at a low
interest rate of 3 percent. The program's process
requires the submission of a business plan by eligible
applicants.
Quality
Jobs Program - For “Small/Expanding”
businesses, the benefits of the program are the retention
of the state withholding tax of the new jobs. For “Technology”
and “High Impact” businesses, the benefits
of the program are (a) the retention of the state withholding
tax of the new jobs; and (b) state tax credits, which
are refundable and/or sellable.
Brownfield
Program - Provides financial incentives for
the redevelopment of commercial/industrial sites owned
by a government agency or that are privately owned.
The sties must have been abandoned for at least three
years and have contamination caused by hazardous substances.
Business
Facility Tax Credit Program - State income
tax credits are provided to the business based on the
number of new jobs created and amount of new investment
at the qualifying facility. The credits are provided
each year for up to ten years after the project commences
operations.
Enterprise
Zone Tax Benefit Program - State income tax
credits are provided to the business based on the number
of new jobs created and amount of new investment at
the qualifying facility. The credits are provided each
year for up to ten years after the project commences
operations.
Film
Production Tax Credit Program - Provides
a state income tax credit to qualified film production
companies up to 50% of the company's expenditures in
Missouri for production or production related activities
necessary for the making of a film, not to exceed $1
million in tax credits per project.
Loan
Guarantee Fee Tax Credit Program -Provides
state tax credits to an "eligible small business"
for the amount of a guarantee fee paid to either the
U.S. Small Business Administration or the U.S. Department
of Agriculture for a small business loan.
Mutual
Fund Tax Apportionment - Stimulates the mutual
fund industry in the state by allowing those certified
by DED to utilize a more favorable state income apportionment
method for tax purposes.
Chapter 353 Tax Abatement - Tax abatement is available to for-profit "urban
redevelopment corporations" organized pursuant
to the Urban Redevelopment Corporation Law. Tax abatement
under the Urban Redevelopment Corporations Law is extended
to real property that has been found to be a "blighted
area" by the city.
Rebuilding
Communities Tax Credit Program - Helps stimulate
eligible business activity in Missouri's "distressed
communities" by providing state tax credits to
eligible businesses that locate, relocate or expand
their business within a distressed community.
Chapter 100 Sales Tax Exemption, Personal Property -
Provides a sales tax exemption on tangible personal
property purchased through Chapter 100 bonds for
non-manufacturing purchases. Companies eligible
for Chapter 100 bond financing include manufacturing,
warehousing, distribution, office, research and
development, agricultural processing, and services in
interstate commerce. Retail, services in intrastate
commerce and others are not eligible.
Sales
Tax Exemption - Machinery and equipment used
to establish a new manufacturing facility or expand
an existing manufacturing facility is exempt from local
and state sales/use tax, provided such machinery/equipment
is used directly to manufacture a product ultimately
intended for sale.
Small Business Incubator Tax Credit
Program - The Missouri Department of Economic
Development (DED) may issue a 50% state tax credit to
a taxpayer who makes a contribution to an approved incubator
sponsor in Missouri.
Wine
and Grape Tax Credit Program - Assists vineyards
and wine producers with the purchase of needed new equipment
and materials, by granting a state tax credit for a
portion of the the purchase price.
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