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 State Tax Credits Will Aid Procter and Gamble Expansion in St. Louis
By: Darin "Sid" Cameron, CRS
Fri, Dec 23rd, 2005 10:58 pm

Just what we're all wanting for Christmas- economic growth!

This from the Missouri Dept. of Economic Development website.  Gov. Matt Blunt announced approval today of $500,000 in state tax credits that will help Procter and Gamble Manufacturing expand its facility and create 34 new high paying jobs.

The Missouri Department of Economic Development approved the Development Tax Credits for Procter and Gamble based on the company’s donation exceeding $1 million to the St. Louis Local Development Company. The donation will be made in the form of equipment, which will be leased back for at least five years to the company as it establishes new product lines.

Currently Procter and Gamble makes Cascade™, Mr. Clean™ and Febreeze™ at their St. Louis facility, however the company intends to expand their product lines made locally.

The Development Tax Credit Program offers state tax credits -- up to 50 percent of a donation -- to eligible donors who make contributions to a not-for-profit corporation, which uses the cash to purchase certain assets and then leases them to a business.

[ Next Article: $4.1 Million in Tax Credits to Rehabilitate Jennings Shopping Center Approved ]
[ Previous Article: Missouri Electric Rates Some of the Lowest in Nation ]

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Darin "Sid" Cameron spent 15 years working in the technology industry which in 1998 relocated him to St. Louis. In 2004 he took over web development tasks for Kimberly's real estate team and later became the full-time Marketing and Operations Director in 2005. In 2011 Sid launched two brokerages, The Realty Store, Inc. and Realty Referral Partners, Inc, while continuing to perform marketing and operations for Kimberly's team. Sid holds a real estate broker's license in Missouri, CRS certification and was the first CyberStar in the St. Louis area.
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