WYEDC fosters, engages and assists new and existing business in Wyandotte County. Once the project parameters are defined, there are a number of state and local tools that may be utilized.
There are several incentives offered through the local municipalities along with state incentives.
Wyandotte County Local Tools
- Neighborhood Revitalization Area – NRA
Provides a rebate on the incremental increase in property taxes due to improvements made to the property. Utilized for smaller projects – $3 million investment or less. Please click here for more information on the Residential NRA Program. Please click here for more information on the Commercial NRA Program
- Tax Abatement – Industrial Revenue Bonds – IRB or Constitutional Exemption – EDX
The Unified Government (UG) by state statute is allowed the use of Industrial Revenue Bonds (IRB) or Constitutional Exemption (EDX) for proposed development projects. By state statute the Unified Government can allow up to 10 years of tax abatement. Utilized for larger projects (over $3 million).
- Tax Increment Financing – TIF
Redevelopment tool that utilizes the incremental increase in property and / or sales tax to finance certain eligible expenses associated with the redevelopment project.
- Community Improvement District – CID
A CID is designed to finance public or private facilities, improvements or services within a designated area through revenue generated from a sales tax and/or property assessment initiated by the owners within the district.
- Economic Development Rider – EDR
Provides a 5-year decreasing discount on increased or new electrical consumption for large power users.
Kansas State Tools
- Commercial & Industrial Personal Property Tax Exemption
For personal property, the Kansas Legislature passed a state law which exempts the property tax on commercial and industrial machinery and equipment purchased or transferred into Kansas after June 30, 2006.
- Sales Tax Exemption
100% sales tax exemption on items used to construct, remodel, furnish, & equip eligible projects
- High Performance Incentive Program – HPIP
The HPIP provides an investment tax credit and other incentives to companies that pay above average wages and have a strong commitment to skills development for their workers. Eligible companies may receive substantial investment tax credits and other incentives if they satisfy wage and training criteria.
- Promoting Employment Across Kansas – PEAK
The Promoting Employment Across Kansas (PEAK) incentive program allows qualified for-profit and regional / national non-for-profit headquarter companies that are locating new jobs or expanding existing Kansas operation, to retain 95 percent (95%) of the payroll withholding tax of the PEAK jobs over a period of five or more years. The company’s wages for PEAK jobs must meet or exceed the county median wage or regional NAICS industry average wage.
- Utilities Sales Tax Exemption
Electricity, gas, and water consumed to run machinery and equipment to produce, manufacture, process, mine, drill or refine tangible personal property is exempt from state and local sales tax.
- Machinery Sales Tax Exemption
The sale of machinery and equipment (including repair and replacement parts and accessories) which is used in Kansas as an integral or essential part of an integrated production operation by a manufacturing or processing plant or facility is exempt from sales tax. The installation, repair and maintenance services performed on this equipment shall also be exempt from sales tax.
- Workforce Training (Kansas Industrial Training – KIT and Kansas Industrial Retraining – KIR)
The KIT and KIR programs can pay for the costs of training new employees or retraining existing workers. Eligible costs include: instructors salaries, curriculum planning and development, travel expenses, materials and supplies, training aids, minor equipment, and certain training facilities. KIT- Designed to help new and expanding companies offset the costs of training workers for new jobs. Training funds can be used to reimburse negotiated costs for pre-employment, on-the-job and classroom training. KIR – For restructuring companies whose employees are likely to be displaced to obsolete or inadequate job skills or knowledge. The program will provide assistance for retraining existing employees.
- Sales Tax Revenue Bonds – STAR
Allows a municipality the opportunity to issue bonds to finance the development of major commercial, entertainment and tourism areas and use the sales tax revenue generated by the development to pay off the bonds.
- New Market Tax Credits – NMTC
The program is part of the Community Renewal Tax Relief Act of 2000 and is intended to encourage investment in low-income communities. Qualified Community Development Entities (CDE) receive an allocation of new market tax credits, which they leverage to have taxpayers make Qualifying Equity Investments in the CDE. The CDE utilizes this investment to achieve projects in qualified areas.
To learn more about Wyandotte County’s incentive offerings, please contact:
- Kansas Department of Commerce Business Incentives (PDF)
- Kansas Department of Commerce Incentives Application
- Kansas Department of Commerce Economic Overview
- Kansas Department of Commerce Economic State Maps
- Kansas Department of Commerce list of publications
For more information about the State of Kansas’s incentives, visit the Department of Commerce’s Business and Community Finance and Incentives resources.