Missouri Code of State Regulations › Title 4 - Department of Economic Development › Division 80 - Economic Development Programs › Chapter 5 - Business Use Incentives for Large-Scale Development › Section 4 CSR 80-5.010 - Definitions

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment will reduce confusion by
				  correcting a reference from SIC codes to NAICS codes and referencing the actual
				  statute.
PURPOSE: This rule provides definitions for terms
				  contained in the Missouri Business Use Incentives for Large-Scale Development
				  Act , sections
				  100.700 to
				  100.850,
				  RSMo.
(1) "Average wage paid
				by the applicant" means the average wage paid within the county in which the
				project is located. The average wage will be determined by the most recent
				information provided by the Division of Employment Security based upon the
				wages paid to employees of businesses of substantially the same North American
				Industry Classification System (NAICS) code as that of the applicant. In the
				event that the wage information is not available for a particular county or, is
				more than two (2) years old, or no other employer with a comparable NAICS code
				is located there, the Department of Economic Development may utilize average
				wage information from adjacent counties or counties which the department
				determines are comparably situated.
(2) "Eligible industry" means a business
				located in Missouri or a business which is not located in the state but which
				would locate there as a result of the project, which otherwise satisfies the
				requirements of an "eligible industry" under section
				100.710,
				RSMo.
(3) "Invest" means the same
				as the term "new business facility investment" as defined in section
				135.100, RSMo, except
				that for leased property, the value of real and personal property shall be
				determined by the present value of the projected annual lease payments
				throughout the term of the lease utilizing an interest rate established by the
				department. Investments may occur during a period commencing with a date
				established by the department and ending not later than three and one quarter
				(3 ¼) years after the issuance of certificates.
(4) "New jobs" means the number of jobs
				created by the eligible industry during a period commencing with a date
				established by the department and ending not later than three and one quarter
				(3 ¼) years after the issuance of certificates, and which otherwise
				satisfy the requirements of a "new job" under section
				100.710,
				RSMo.
(5) "Overall positive fiscal
				impact" and "revenue impact of the program" mean the net state economic impact
				which is the value of the direct and indirect new state tax revenues resulting
				from the project over a fifteen (15)-year period (as determined by Department
				of Economic Development econometric models) less a projection of new state
				costs attributed to the project.
(6) "Project" means an economic development
				project as defined in section
				100.710,
				RSMo.
(7) "Related taxpayer" means
				the same as that term is defined in section
				135.100,
				RSMo.
(8) "Replacement of
				facilities" means the same as the term "replacement business facility" as
				defined in section
				135.100,
				RSMo.
*Original authority 1994, amended
					 1995.