Business Incentives
The region promises a pleasant move. You'll find residents refreshing to work with; they are cooperative, organized and innovative. Community leaders are business leaders who appreciate and understand the needs of fellow business owners and managers.
ENTERPRISE ZONES
Businesses locating or expanding throughout the State of Kansas are eligible for various incentives based on the type of company and the net number of new jobs created by the project.
Credits are limited each year to 50% of the business' corporate tax liability and unused credits may be carried forward. Enhanced and additional benefits may be available depending on the location of the business, size of business and/or type of business
- A sales tax exemption on the purchase of materials and services associated with the expansion or construction of a business facility
- A $1,500 Job Creation Tax Credit for each net new job created
- A $1,000 Capital Investment Tax Credit for each $100,000 of new capital investment
Credits are limited each year to 50% of the business' corporate tax liability and unused credits may be carried forward. Enhanced and additional benefits may be available depending on the location of the business, size of business and/or type of business
PROPERTY TAX ABATEMENT
A property tax abatement may be obtained for new and expanding industries in some locations. Abatements are granted at the discretion of the given municipality where the expansion or relocation will occur. The abatement can be for up to 10 years plus up to an additional 2 years for the construction period of the project. The abatement percentage will vary depending on the circumstance and community.
REVOLVING LOAN FUNDS
Loan funds, administered by counties, municipalities and regional planning commissions, are available throughout the region and through the North Central Regional Planning Commission. Flexible low-interest terms may be negotiated, contingent upon job creation and private-sector investment.
INVENTORY TAX EXEMPTIONS
Exemptions for inventories held by merchants and manufacturers were recently established by constitutional amendment.
STATE AND FEDERAL GRANTS
Funds may be available to new and expanding industries, which create jobs, through Community Development Block Grants (CDBG), Economic Development Administration (EDA), Farmers Home Administration (FHA), or other venture capital sources.
INDUSTRIAL REVENUE BONDS
The cities and counties within the region may issue bonds at their discretion for up to 100 percent financing of land, buildings, equipment and construction.
INDUSTRIAL SITES
Relocation and expansion sites are available in the region with access to municipal utilities and attractive terms for acquisition. Some sites include existing structures.
ADDITIONAL INCENTIVES
Other incentives that are available throughout the region include workforce training programs through the Kansas Department of Commerce and Housing, venture capital companies (state and private), Applied Research and Small Business Innovation Research funds through the Kansas Technology Enterprise Corporation, export financing assistance, trade show assistance, and assistance with the packaging of loans.
