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Business Incentives
The City of Wentzville, on a case-by-case basis, may consider providing business incentives as stimulation for economic development, business growth and expansion in the City.
As a general guideline, incentive packages are based on total capital investment, the number of jobs created and the salary level of jobs created. If you have any questions about these business incentives, please contact the Economic Development Office by calling (636) 327-5101 or emailing ecodev@wentzvillemo.org.
Incentive Inventory
In order to assist in the development of targeted areas, the City has historically utilized the following incentives individually and in coordination with regional and state partners. Nothing herein shall imply or suggest that the City of Wentzville is under any obligation to provide any business incentive to any applicant.
City staff liaisons will assist in identifying packages that may include but are not limited to the following:
Chapter 100
Under state statutes, local cities and counties have the authority to issue Chapter 100 industrial revenue bonds (IRBs) to eligible large-scale projects that involve substantial new job creation and/or capital investment in the community. Ownership of the development is held by the local government which passes along a negotiated level of local tax abatement to the business who in turn makes Payments in Lieu of Taxes (PILOTS) until the bonds are fully repaid.
TDD
A Transportation Development District (TDD) allows a local government to partner with the Missouri Department of Transportation (MoDOT) to establish a special assessment district to finance needed road work, interstate and interchange projects and other transportation-oriented projects that will foster economic development. These funds are repaid by either a special assessment, additional property taxes or additional sales taxes in the established District. Qualified district voter approval must be obtained prior to entering into a financing agreement with the Missouri Highways and Transportation Commission (Commission).
CID
A Community Improvement District (CID) allows for property or business owners within a specific area to form either a not-for-profit corporation or a political subdivision with the authority to raise funds through a special assessment or additional taxes to fund necessary public infrastructure improvements.
NID
A Neighborhood Improvement District (NID) allows an improvement to be made in an area benefited by that improvement, and to be assessed to pay for the improvement. NIDs are created by election or petition of owners of real property within the proposed district’s boundaries and typically generate funding for projects through the sale of municipal revenue bonds backed by the district’s special property assessments that may be extended beyond the retirement of the bonds to pay for maintenance and upkeep. NIDs are strictly a local initiative.
TIF
Tax Increment Financing (TIF) permits the use of a portion of local property and sales tax to assist funding the redevelopment of certain designated areas within a community that are classified as “blighted,” “conservation” or an “economic development” area as defined by the Missouri state statutes.
Missouri Works Program
The Missouri Works Program is offered through the Missouri Department of Economic Development and allows qualifying businesses to retain a portion of payroll withholding taxes when certain levels of new, well-paying jobs with health benefits are created in a certain timeframe.