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Business and the Economy

Contribution Credits Given to Local Business Incubators

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Dustin Moore
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Nine small business incubators in the state have received a total of $500,000 from the Missouri Department of Economic Development.  The contribution credits, through the Small Business Incubator program, will help recipients leverage $1 million for the local incubators.

According to the DED, the funds leveraged by the credits must be used for capital and other non-operating expenditures and support new business creation throughout the state.

Local organizations receiving funding include $67,000 for the eFactory in Springfield, $20,000 for the Joseph Newman Business and Technology Innovation Center in Joplin and $91,318 for the Ozarks Small Business Incubator in West Plains.

All contributions must be received by those organizations between January 1 and December 31, 2017 to qualify for the contribution credits.