Incentives & ResourcesPage last updated October 23, 2023.
Real Estate Incentives
- Free Land in Masters Industrial Park
- 1 acre for every 10 new jobs created - max of 5 acres
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Tax Incentives
- Revenue Bonds - Dent County Industrial Development Authority
- Enhanced Enterprise Zone - abatement of local Property Tax in increments of 50%, 62.5% or 75%, dependent upon amount of investment and creation of new jobs, for construction of a new facility or expansion of existing facility
- Chapter 100 Sales Tax Exemption, Personal Property - The facility, construction materials and certain tangible personal property may be purchased tax exempt by the City/County and then leased back to the Company. That tax exempt status extends to both state and local sales tax and local property tax. The City or County is using its own tax exempt status to extend to the purchase and ownership of certain real property, construction materials, and tangible personal property in order to provide a lower cost benefit to a business locating or expanding in its community. That benefit may be derived through an exemption of local property taxes and/or state and local sales taxes for an established period of time.
- Chapter 353 Tax Abatement - Cities can access this incentive to help redevelop blighted areas by abating some or all of the property taxes for up to 25 years.
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Cash Incentives
- Missouri Works Program - retention of the state withholding tax of new jobs and/or state tax credits, which are refundable, transferable and saleable. The program benefits are based on a percentage of the payroll of the new jobs.
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Utility Rate Incentives
(City of Salem commercial electric rates effective 7/15/2023 = $12/mo Service Availability and $0.1360 kwh with a $3.42 kwd (for all accounts required to have a demand meter);
commercial water rates effective 7/30/2018 = $5.39 vol. rate/1000 gallons)
Electric
- Employment Incentive - up to twenty-four (24) months of discounted electric rates consisting of a $12/mo Service Availability, $0.0884 per kwh and $5.69 kwd for commercial utility customers of the City of Salem that create and maintain 25 new full-time (40 hrs/week) jobs in Salem. Incentive rate is effective for each month, up to 24 months, that 25 newly created jobs are maintained. Verification of jobs may be required. Ord. No. 3542, 6-27-2023
- Manufacturing, Warehouse, Wholesale Trade Rate (Electric) - City of Salem commercial utility customer operating a manufacturing, warehouse, or wholesale trade facility, as determined by its North American Industry Classification System (NAICS), and using in excess of 225,000 kwh per month shall be charged the sum of a $12/mo Service Availability, $0.1053 per kwh and $5.12 per kwd. Ord. No. 3542, 6-27-2023
Water
- Commercial Manufacturing, Averaging Over 350,000 gal/month (Water) - $6 base rate and $3.47 vol. rate/1000 gallons. Ord. No. 3392, 7-30-2018
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Federal Resources for Small Businesses
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Business Planning, Classes, Trainings & Webinars
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Staff Contact:
Sally Burbridge
City Administrator
400 N Iron St.
Salem, MO 65560
cityadministrator@salemmo.com
573-729-2428
