This week the state of Missouri approved $500,000 in state tax credits that will help Proctor and Gamble Manufacturing expand its facility and create 34 new high-paying jobs.
“I am thrilled that Proctor and Gamble is expanding its workforce and production capacity in St. Louis,” Gov. Matt Blunt said. “We are pleased to play a role in this expansion, which will enable the company to increase its local work force to nearly 300 employees.”
The Missouri Department of Economic Development approved the Development Tax Credits for Proctor and Gamble based on the company’s donation exceeding $1 million to the St. Louis Local Development Company. The donation will be made in the form of equipment, which will be leased back for at least five years to the company as it establishes new product lines.
Proctor and Gamble is one of the largest manufacturers of household products, including Cascade, Mr. Clean and Febreeze, which are made at the St. Louis facility. The company continues to expand its product base and will also expand its St. Louis facility to accommodate this growth by improving existing production lines and adding three new ones.
The Development Tax Credit Program offers state tax credits – up to 50 percent of a donation – to eligible donors who make contributions to a not-for-profit corporation, which uses the cash to purchase certain assets and then leases them to a business.