The Department of Economic Development announced today that it will award more than $8 million in 50% and 70% tax credits through the Neighborhood Assistance Program (NAP) to 39 organizations for community development projects statewide.

“We’re proud to assist Missouri nonprofits as they provide critical services to citizens statewide,” said Governor Mike Parson. “Through this program, we’re able to support organizations in their work to strengthen Missouri communities, which in turn benefits our entire state and its economy.”

A total of up to $16 million are awarded through NAP annually, with projects limited to $250,000 in 50% tax credits and $350,000 in 70% tax credits. The credits for this fiscal year will be awarded in two rounds, with this being the first round and the second round opening this Fall. Eligible applicants include nonprofit organizations, education institutions, faith-based organizations, local governments, and businesses that meet program requirements. During the Fiscal Year 2023 cycle, tax credits were reserved for organizations providing critical services, with priority given to projects providing job training, education, and those located in previously underserved areas of the state. The full list of 2023 Round 1 NAP recipients and projects is available here.

“The Neighborhood Assistance Program strengthens Missouri communities by fostering public-private partnerships,” said Maggie Kost, Acting Director of the Missouri Department of Economic Development. “We’re grateful for these organizations’ efforts and glad to lend a hand through programs that help maximize their impact.”

About the Neighborhood Assistance Program (NAP)

Administered by the Division of Business and Community Solutions, NAP helps nonprofit organizations leverage private-sector funds by providing partial state tax credits to businesses that make contributions to approved community improvement projects. The program can help fund job training initiatives, crime prevention, community service projects, and revitalization of community-based buildings and areas. For more information, including upcoming application cycles, eligibility criteria, and frequently asked questions, visit the NAP webpage.

About the Missouri Department of Economic Development

The Missouri Department of Economic Development (DED) works to create an environment that encourages economic growth by supporting Missouri’s businesses and diverse industries, strengthening our communities, developing a talented and skilled workforce, and maintaining a high quality of life. Through its various initiatives, DED is helping create opportunities for Missourians to prosper.

For the latest updates on DED’s current or future programs and initiatives, visit DED’s website.

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