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Economic Development Policy Statement

The City Council of the City of Ferguson is the approving body for all projects that make use of economic development incentives. The City Council reserves its power to judiciously review the merits of all development projects on a case by case basis. Under no circumstances will incentives be approved without consent from the majority of the City Council. 

To discuss your specific development project, please contact the Planning & Development office at 314-524-5257. 

Overview of Financial Tools and Incentives

Purpose

Economic development incentives are a means to reduce or redirect taxes for businesses in exchange for specific desirable actions or investments that might not otherwise be financially feasible. To qualify for incentives, a project must demonstrate an ability to meet the City’s targeted outcomes.

Special Taxing Districts

The City may establish or approve the establishment of special districts that can impose special assessments and/or taxes in order to pay for public improvements and/or to eliminate blight. These districts are typically geographic areas such as a neighborhood or corridor that are contiguously connected. The most common special taxing districts are Neighborhood Improvement Districts (NID), Community Improvement Districts (CID), and Transportation Development Districts (TDD).

Property Tax Abatement

Tax abatement is offered through a variety of programs geared to job creation, private investment, and redevelopment. Typically, property taxes continue to be paid on land and improvements based on their value prior to the new investment. All, or a portion, of the incremental increase in property taxes is abated for an established period of time. This incentive is sometimes referred to by the respective Missouri Statute as Chapter 99 (Land Clearance for Redevelopment Authority), Chapter 100 (Industrial Development Bonds), or Chapter 353 (Urban Redevelopment Corporation).

State Incentives & Assistance Programs

  1. Building Use Incentives for Large-Scale Development (BUILD)
  2. Missouri Works Program
  3. Business Facility Tax Credit Program
  4. Work Opportunity Tax Credit

To help companies embark on major investment and job creation expansions, this program provides funding to reduce necessary infrastructure and equipment expenses through the form of bonds.

To view details on eligibility requirements and benefits provided by this program, please click the link below: 

https://ded.mo.gov/programs/business/BUILD

For a full, comprehensive list of incentives for all development types, please visit: 

Missouri Department of Economic Development Website