DED awards $6 million in tax credits to 37 organizations through the Youth Opportunities Program
May 16, 2024
Jefferson City, Mo. — The Department of Economic Development announced today that it will award $6 million in 50% tax credits to 37 organizations throughout Missouri through the Youth Opportunities Program (YOP) during its 2024 cycle.
“We’re proud to assist organizations that provide critical services to Missourians through the Youth Opportunities Program,” said Governor Mike Parson. “Recipients of this program are putting funds to good use by implementing projects that make lasting, positive differences for youth statewide.”
YOP helps broaden and strengthen opportunities for positive development and participation in community life for youth. The program allows organizations to leverage private-sector funds by providing partial state tax credits to businesses and individuals making contributions to approved youth development or crime prevention projects. YOP funds a variety of project types, including degree completion, internships and apprenticeships, mentoring, substance abuse prevention, violence prevention, counseling, and more.
“We’re grateful to partner with recipients of the Youth Opportunities Program as they improve lives, strengthen communities, and help Missourians prosper,” said Michelle Hataway, Director of the Department of Economic Development.
A total of up to $6 million is awarded through YOP annually, with projects limited to $200,000 in tax credits. Eligible applicants include nonprofit organizations, education institutions, faith-based organizations, local governments, and businesses that meet program requirements. YOP is administered by the Division of Business and Community Solutions. The full list of 2024 YOP recipients is available here.
For more information about the program, including upcoming application cycles, eligibility criteria, and frequently asked questions, visit the YOP webpage.
Testimonial from YOP recipient - Children’s Home Society of Missouri, St. Louis region
“We are grateful for the Youth Opportunities Program, which will help Children’s Home Society of Missouri support 460 children and family members heal from the effects of developmental trauma this year. YOP tax credits allow donors to increase their contribution to Children’s Home Society of Missouri, making a larger impact in our communities. Coupled with the fact that Children’s Home Society of Missouri offers high-quality mental health services at no cost to clients, the Youth Opportunities Program helps remove barriers to care, ensuring access for all who qualify. Recovery from trauma is complex. The ability for Children’s Home Society of Missouri to provide long term support for families through clinical services, assessments, and caregiver and parent education classes lets families know successful treatment is not one-size-fits-all.”
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.
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