Career and technology center gets tax credits from state

The Cape Girardeau Career and Technology Center will receive $250,000 in state tax credits to help with its expansion project.

Gov. Matt Blunt announced the tax credits in a statement released Thursday by the Missouri Department of Economic Development.

The tax credits are another piece of the funding for construction of a 9,600-square-foot electrical shop and classroom building east of the current school, said career center director Rich Payne.

School officials estimate the project will cost $1.5 million.

Payne said private donors who have already contributed to the project will get tax credits up to 50 percent of their donations. Some tax credits also could go to those providing in-kind contributions to construct the building, he said.

"The tax credits are actually kind of a bonus," he said. "I didn't count on them."

But Payne said it's another sign of the state's continuing support for the project.

Ameren Community Development Corp. donated $150,000 to the project in January. The legislature appropriated $750,000 for the career center expansion project this spring.

Payne said he has the remaining private donations in place to match the state funding and construct the building.

Payne plans to outline the project to the Cape Girardeau school board soon. Any construction contract would have to be approved by the board.

Construction could start by next spring. "We are hoping to have it open for the 2007-2008 school year," Payne said.