benefits and incentives
Brownfield Redevelopment Program
Benefits:

New or relocating businesses in TEC are eligible to receive Brownfield Tax Credits, which include:

  • Income tax Credit of up to $1300 per new job each year for 1-10 years;

  • Income tax credits based on approximately 2% each year for 1-10 years of new qualified investment**;

  • Exemption of up to 50% of taxable income attributable to the eligible project;


**New qualified investment: The value of real and depreciable tangible personal property which are used at or in connection with the eligible project during the tax period the credits are being claimed. New qualified investment shall not include small tools (portable and hand held), supplies, working capital, and inventory. Trucks, truck-trailers, truck semi-trailers, rail and barge vehicles and other rolling stock for hire, track, switches, barges, bridges, tunnels and rail yards and spurs shall not constitute new qualified investment. The total value of such property during such taxable year shall be:

  • Its original cost if owned by the taxpayer;


    • Or

  • Eight times the net annual rental rate, if leased by the taxpayer. The net annual rental rate shall be the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from sub rentals. The new qualified investment shall be determined by dividing by twelve the sum of the total value of such property on the last business day of each calendar month of the taxable year. If the new business facility is in operation for less than an entire taxable year, the new qualified investment shall be determined by dividing the sum of the total value of such property on the last business day of each full calendar month during the portion of such taxable year during which the eligible business was in operation by the number of full calendar months during which the eligible business was in operation by the number of full calendar months during such period;


Net Qualified investment for a full calendar year = net annual rent x 8
    210 NORTH TUCKER BLVD.
SUITE 600
ST. LOUIS, MO 63101

314.436.3500

info@tec-stl.org
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