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P&G Gets Tax Credit

Published February 14, 2006
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The Missouri Dept. of Economic Development will give Procter & Gamble Manufacturing $500,000 in state tax credit to expand its St. Louis facility. The project will create 34 high paying jobs, according to the company. The development tax credits were approved, in part, because P&G made a donation exceeding $1 million to the St. Louis Local Development Co. for equipment that will be leased back for at least five years. Procter & Gamble will use the equipment to establish new product lines.
The tax credit program provides up to 50% of a donation to those who contribute to a not-for-profit corporation that uses the money to buy assets and lease them to a business. P&G makes Cascade, Mr. Clean and Febreeze at the St. Louis facility.

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