KIRKSVILLE, MO. -- Adair County citizens gathered to discuss the proposed Enhanced Enterprise Zone as the final step before submitting the EEZ application.
Designating Adair County an EEZ allows new businesses in the county to receive tax abatements on real property. The new business must bring a minimum of two new jobs, pay half the benefits to their employees, and invest a minimum of $100,000 to those two employees.
It's estimated the county will make more than a million dollars a year in new tax revenue and the local economy will gain more than 18 million dollars in the first year of construction.
Adair County is modeling their application after Sullivan County who is already an EEZ. Although Adair County has more control over the new development in the county. Only manufacturing jobs and wind farms can receive tax abatements.
Trade Wind Energy has expressed interest in building wind turbines in both counties and has verbally agreed to bring 200 megawatts to Adair County alone. The company will pay $5900 in taxes on each megawatt. That amount is at 60 percent abatement while any manufacturing business would be given 50 percent abatement.
Adair County Assessor Donnie Waybill says abatement’s aren’t good but in this economic climate, they’re needed to bring economic development to the county.
The Novinger School district will benefit the most from the taxes on the wind turbines.
“This area of Novinger has very little to offer in an Enhanced Enterprise Zone expect the land that's there. And we're not gonna benefit from manufacturing we don't have the infrastructure,” said Novinger Schools Superintendent Bill Lake.
Superintendent Bill Lake says they plan to use those extra funds to improve the school building, the parking lot, and to invest scholarship dollars. He says they will also help students develop a responsibility within their community. Students can complete community service and receive money to their club’s general fund.
The Brashear School District isn't part of Trade Wind's current plans but it could be in the future.
“Anything that helps Novinger and Kirksville and brings tax money into the county will also help our roads, our bridges, our area as well. So we're very much in favor of it as well,” said Brashear Schools Superintendent Don Wilburn.
Kirksville Schools Assistant Superintendent Jane Schaper spoke on behalf of the Kirksville School Board. She stated the school district does not oppose the proposal but they hope the county will use caution in allowing tax abatements. She said the school board realizes real taxes are a vital part of the school budget.
The county commissioners must now submit the application to the state. Grey Jackson an Economic Incentive Specialist with the Missouri Department of Economic Development says the county can put a rush on the application because Trade Wind Energy is waiting on approval. She says once it gets to the state it can be a matter of weeks before final approval.
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