Missouri Development Finance Board Approves $2.25 Million in Tax Credits for Union Station Enhancements
At a meeting earlier today, the Missouri Development Finance Board (MDFB) approved a tax-incentive program that will allow area corporations and funders to use tax credits toward an expansion project that will increase the positive economic and educational impact of Kansas City’s Union Station.
The $2.25 million in tax credits approved today by the MDFB will be purchased by area corporations and/or funders, this will provide funding to support Union Station’s improvement plan. This improvement plan is designed to advance and enhance Science City’s exhibits, programs and facilities as well as improving visitor access and infrastructure. The tax credits will help raise the initial $5 million of the project.
“The endorsement and major investment by the State of Missouri for this initiative demonstrates the significant impact Union Station and its Science Center continues to have on STEM education, tourism and entrepreneurial development in our community and throughout the Midwest,” said George Guastello, President and CEO of Union Station, Inc. “The tax credits will allow the Station to engage the civic and business community to help support the continued growth of Union Station.”