Missouri Executive Incentive Plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-270
• Format: Word; Rich Text

Description

20-270 20-270 . . . Executive Incentive Plan under which corporation can award restricted stock and units. Restricted stock consists of common stock of corporation which contains restrictions on transfer and forfeiture in event of termination of employment prior to expiration of time period specified in grant. units are equivalent of corporation's book value per share and are issued and credited on corporation's books to employees on condition that said units must be resold to corporation. Corporation must purchase units at end of 5 year incentive period or upon termination of employment (whichever comes first) for amount equivalent to book value at that time plus dividends declared during incentive period and less book value on date of grant The Missouri Executive Incentive Plan (MEIR) is a strategic economic development program aimed at attracting and retaining businesses in the state of Missouri. It is designed to offer financial incentives and resources to encourage companies to establish or expand their operations within the state, thereby promoting economic growth, job creation, and investment opportunities. Under the MEIR, eligible businesses can access a range of incentives and benefits, such as tax credits, loans, grants, training assistance, and infrastructure support. These incentives are provided to businesses that meet specific criteria, including job creation targets, capital investment thresholds, and the development of strategic fields like advanced manufacturing, cybersecurity, biotechnology, or information technology. There are several types of Missouri Executive Incentive Plans available to businesses based on their specific needs and goals. These include: 1. Missouri Works Program: This program aims to support job creation and capital investments by offering tax benefits to businesses that commit to creating new jobs within certain timeframes and meet the required wage standards. It provides incentives in the form of tax credits based on factors such as the number of jobs created, average wage levels, and the amount of capital invested. 2. Small Business Tax Credit: This incentive is tailored toward smaller businesses and provides tax credits for companies that meet specific criteria, such as employing fewer than 50 employees and revitalizing economically distressed areas. The credit amount varies based on factors such as the number of jobs created, wages, and the location of the business. 3. Missouri Works Training Program: This program offers customized training assistance to businesses making significant capital investments and creating new jobs in Missouri. The training program can be tailored to the specific needs of the business, helping them increase workforce capabilities and enhance productivity. 4. Enhanced Enterprise Zone (EEA) Program: The EEA program aims to promote economic development in designated areas by offering a combination of state and local tax incentives. Businesses located within these zones have opportunities for tax abatement, tax credits, and sales tax exemptions, thus lowering their overall operating costs. In conclusion, the Missouri Executive Incentive Plan encompasses various programs designed to attract businesses from diverse industries, encourage job creation, and foster economic growth within the state. The different types of incentives aim to cater to specific business needs and contribute to Missouri's overall economic development goals.

The Missouri Executive Incentive Plan (MEIR) is a strategic economic development program aimed at attracting and retaining businesses in the state of Missouri. It is designed to offer financial incentives and resources to encourage companies to establish or expand their operations within the state, thereby promoting economic growth, job creation, and investment opportunities. Under the MEIR, eligible businesses can access a range of incentives and benefits, such as tax credits, loans, grants, training assistance, and infrastructure support. These incentives are provided to businesses that meet specific criteria, including job creation targets, capital investment thresholds, and the development of strategic fields like advanced manufacturing, cybersecurity, biotechnology, or information technology. There are several types of Missouri Executive Incentive Plans available to businesses based on their specific needs and goals. These include: 1. Missouri Works Program: This program aims to support job creation and capital investments by offering tax benefits to businesses that commit to creating new jobs within certain timeframes and meet the required wage standards. It provides incentives in the form of tax credits based on factors such as the number of jobs created, average wage levels, and the amount of capital invested. 2. Small Business Tax Credit: This incentive is tailored toward smaller businesses and provides tax credits for companies that meet specific criteria, such as employing fewer than 50 employees and revitalizing economically distressed areas. The credit amount varies based on factors such as the number of jobs created, wages, and the location of the business. 3. Missouri Works Training Program: This program offers customized training assistance to businesses making significant capital investments and creating new jobs in Missouri. The training program can be tailored to the specific needs of the business, helping them increase workforce capabilities and enhance productivity. 4. Enhanced Enterprise Zone (EEA) Program: The EEA program aims to promote economic development in designated areas by offering a combination of state and local tax incentives. Businesses located within these zones have opportunities for tax abatement, tax credits, and sales tax exemptions, thus lowering their overall operating costs. In conclusion, the Missouri Executive Incentive Plan encompasses various programs designed to attract businesses from diverse industries, encourage job creation, and foster economic growth within the state. The different types of incentives aim to cater to specific business needs and contribute to Missouri's overall economic development goals.