The links to our left help explain the many different ways you can receive assistance through us and our partners. Below is a description of different state and local business incentives that are available in Pottawatomie County and throughout the state of Kansas.
Local Incentive Programs
- Rate reduction plans for new and expanding existing businesses
USDA Rural Development Programs
Intermediary Relending Program (IRP)
- This provides 1% interest loan to local intermediaries that re-lend to businesses/community development projects.
Rural Business Development Grants (RBDG)
- Grant that supports emerging private businesses that have fewer than 50 employees and less than $1 million in Gross Revenue.
Rural Economic Development Loan (REDL)
- Zero interest loan to local utilities that pass through businesses that create and retain rural jobs.
Rural Economic Development Grant (REDG)
- USDA grant that funds utility organizations that plan to establish revolving loan funds for projects that create and retain rural jobs.
State Incentive Programs
Site Location Assistance
Business Recruitment Team
- A Kansas Department of Commerce team that assists with site location needs
Promoting Employment Across Kansas (PEAK)
- A new business incentive program that allows companies to retain payroll withholding taxes.
Industrial Revenue Bonds (IRB)
- This cost-effective method can finance up to 100% of a new or growing business's land, building, & equipment.
Community Development Block Grants (CDBG)
- Federal HUD program that allocates annual grants to provide communities with resources that address a wide range of community development needs.
Kansas Bioscience Authority (KBA)
- Financing resources that assist in expansion and recruitment of bio science companies.
Workforce Development Programs
Kansas Industrial Training (KIT)
- Program that is used to assist firms in job creation & training.
Kansas Industrial Retraining (KIR)
- Job retention tool that helps employees of a restructuring company.
Income Tax Incentives
High Performance incentive Program (HPIP)
- Tax incentive provided to employers that pay above-average wages & have strong commitment skills.
Machinery and Equipment Expensing Deduction
- Eligible Kansas taxpayers are allowed to claim a one-time expense deduction for business machinery & equipment.
Property Tax Incentives
Machinery and Equipment Property Tax Exemption
- State & local property tax exemption pertaining to machinery & equipment used in the expansion of an existing facility or the establishment of a new facility.
Property Tax Abatement
- A provision allowing tax exemptions for qualified business for up to 10 years.
Sales Tax Exemption
Application for Sales Tax Exemption Certificates
Workforce Development Assistance
- A statewide public workforce system that provides resources for both employers and job seekers.
Rural Opportunity Zones
- A resident income taxpayer that establishes a domicile in Kansas rural opportunity zone shall be allowed tax credit.
Student Loan Forgiveness
- Financial incentive to new full-time residents that will forgive loans up to $15,000
Other Tax Incentives and Business Initiatives
• Right-to-Work State - Union membership in Kansas is 7.5 percent, well below the national average.
• Inventory Tax Exemption - All merchant and manufacturers’ inventories are exempt from property taxes by state law.
• Research Tax Credit – Kansas offers an income tax credit equal to 6.5 percent of a company’s investment in research and development above the average expenditure of the previous three-year period. Twenty-five percent of the allowable annual credit may be claimed in any one year.
• No Local Income Taxes – Kansas cities and counties do not impose an earnings tax on personal or corporate income
• No Kansas Franchise Tax – Kansas eliminated its franchise tax in 2011
• Workers Compensation - Kansas ranks 9th lowest in the U.S. for worker compensation rates
Click here for more information regarding Kansas business incentives.