The Department of Economic Development (DED) announces the allocation of over $7.6 million in tax credits to 44 organizations in Missouri through the Neighborhood Assistance Program (NAP) for Fiscal Year 2025 – Round 2.
February 13, 2025
Jefferson City, Mo. — The Department of Economic Development (DED) announced today that it will award more than $7.6 million in tax credits to 44 organizations throughout Missouri through the Neighborhood Assistance Program’s (NAP) Fiscal Year 2025 – Round 2 cycle.
“Strengthening communities through the Neighborhood Assistance Program helps secure our state’s prosperous future,” said Governor Mike Kehoe. “Missouri is home to a wide variety of organizations dedicated to helping others. This program is an incredible resource that supports critically important work happening statewide.”
A total of up to $16 million is awarded through NAP annually, with projects limited to $250,000 in 50% tax credits and $350,000 in 70% tax credits. Credits for this fiscal year were awarded in two rounds, with this being the second round that opened in August 2024. Eligible applicants include nonprofit organizations, educational institutions, and businesses that meet program requirements. During the Fiscal Year 2025 cycle, tax credits were reserved for organizations providing critical services, with priority given to projects located in previously underserved areas of the state.
The full list of Fiscal Year 2025 – Round 2 NAP recipients and projects is available here.
“The Neighborhood Assistance Program is an incredible tool that enhances the efforts and mission of numerous Missouri non-profit organizations,” said Michelle Hataway, Director of the Department of Economic Development. “I am so proud of this NAP team as their work supports organizations that provide much-needed services to help Missourians prosper.”
About the Neighborhood Assistance Program (NAP)
Administered by the Community Finance Team, NAP helps nonprofit organizations leverage private-sector funds by providing partial state tax credits to businesses that make contributions to approved community improvement projects. The program can help fund job training initiatives, crime prevention, education, community service projects, and revitalization of community-based buildings and areas. For more information, including upcoming application cycles, eligibility criteria, and frequently asked questions, visit the NAP webpage.
About the Missouri Department of Economic Development
The Missouri Department of Economic Development (DED) works to create an environment that encourages economic growth by supporting Missouri’s businesses and diverse industries, strengthening our communities, developing a talented and skilled workforce, and maintaining a high quality of life. As one team built around the customer and driven by data, DED aspires to be the best economic development department in the Midwest. Through its various initiatives, DED is helping create opportunities for Missourians to prosper.
For the latest updates on DED’s current or future programs and initiatives, visit DED’s website.
Department of Economic Development, tax credits, Missouri, Neighborhood Assistance Program, NAP, community funding, nonprofit support, economic assistance
#EconomicDevelopment #TaxCredits #Missouri #NeighborhoodAssistance #CommunitySupport #Nonprofits #DED #Funding #NAP2025
