The Missouri Department of Economic Development has awarded $95,000 of tax credits to the Missouri Innovation Center. These tax credits are part of the Small Business Incubator Tax Credit Program which helps fund 10 Innovation Centers across the state of Missouri. The funds leveraged by these credits can be used for capital and other non-operating expenditures to support new business creation throughout the state. The credits can be applied to contributions received by MIC between January 1, 2016, and December 31, 2016.
According to the U.S Census Bureau, Missouri ranks No. 1 nationally in new business creation. Missouri’s new business creation recently surged by an impressive 16 percent while most states saw a decrease. Additionally, in Fiscal Year 2015 Missouri ranked—for the first time ever—as a Top 10 state for startup funding, according to Forbes.