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The Missouri Department of Economic Development has announced that portions of Monroe County have been granted the designation of Enhanced Enterprise Zone for the county located in Northeast Missouri. This designation will allow county officials to continue to move forward with economic development efforts.
“We are very pleased to have this designation for the rest of Monroe County,” said David Gaines, Vice President of Moberly Area Economic Development Corporation. “This new zone encompasses the cities of Madison and Holiday and a large portion of the County.
The establishment of the newest zone is the third such zone in Monroe County. A number of years ago the City of Paris created the first zone in Monroe County that covers only the City of Paris. Most recently, in late 2011 a second Enhanced Enterprise Zone was created in the Monroe City area that overlaps portions of Monroe, Ralls and Marion Counties.
“We needed that zone to overlap parts of three counties to insure that we include all of Monroe City,” said Gaines. “That zone has already begun to pay benefits.”
With the creation of the third zone in Monroe County a large portion of rural Monroe County and two other communities are now in an Enhanced Enterprise Zone. “Having this third zone now places the Cities of Madison and Holiday in a zone which allows us to better assist individuals wanting to start or expand their business in this portion of Monroe County,” Gaines said. “This a good tool that allows for companies looking to expand to receive a combination of both local and state incentives to create new jobs in Monroe County.
Monroe County entered into a partnership with Moberly Area Economic Development in 2010 to provide services to all of Monroe County as well as Randolph, Chariton and Cooper County’s. That partnership has already begun to pay dividend as the partnership has worked with several businesses that have announced expansions in the Monroe County area.