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Business Services from the Missouri Career Centers of Joplin and Monett
SW MO Firm Utilizes Enhanced Enterprise Zone
Enhanced Enterprise Zone Tax Credit incentives are part of the economic development package that’s resulting in 30 new jobs with an average wage of $46,166 and a $6 million new investment from a Carthage-area manufacturer. Gov. Matt Blunt announced that the Missouri Department of Economic Development (DED) has approved $246,691 in Enhanced Enterprise Zone Program tax credits for Leggett and Platt, Inc., in Carthage.
“I am pleased the state could provide assistance in the creation of these new jobs and economic development in Carthage,” Blunt said. “The Missouri Department of Economic Development works with companies and communities throughout our state as they strive to enhance opportunities for Missourians and has an exceptional track record in helping to create jobs and strengthen our state’s economy.”
Leggett & Platt (NYSE: LEG) is a diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products that can be found in virtually every home, office, retail store, and automobile. With 2006 sales of $5.5 billion, the company consistently ranks approximately #400 in the Fortune 500, and serves a broad suite of customers that comprise a “Who’s Who” of U.S. manufacturers and retailers.
Leggett & Platt is North America’s leading independent manufacturer of the following: a) retail store fixtures and point of purchase displays; b) carpet underlay; c) adjustable beds; d) components for office furniture; e) non-automotive aluminum die castings; f) drawn steel wire; g) components for residential furniture and bedding; h) automotive seat support and lumbar systems; and i) bedding industry machinery for wire forming, sewing and quilting.
The Enhanced Enterprise Zone program was implemented in 2004. Enhanced enterprise zones are specified geographic areas designated by local governments and certified by the Department of Economic Development. Zone designation is based on certain demographic criteria, the potential to create sustainable jobs in a targeted industry and a demonstrated impact on local cluster development.
Since January 2005 Missourians have created 93,300 jobs. Blunt has made helping employers and entrepreneurs create good, family-supporting jobs a top priority. Legislative changes he has championed such as real lawsuit and workers’ compensation reform combined with innovative new proposals like his Quality Jobs Act have been cited by job creators as reasons for expanding or relocating to the Show-Me State.