Kansas has recently experienced a record-breaking surge in economic development, expanding its profile as a location for emerging technologies, reshoring activity and a pro-business environment. One of the things driving this growth is the Kansas Framework for Growth strategic plan. It identifies five target sectors for recruitment and expansion: advanced manufacturing, aerospace, distribution, logistics and transportation, food and agriculture, and professional and technical services. There has been notable growth in the transportation sector. Panasonic Energy announced in late 2022a $4 billion EV battery manufacturing plant near Kansas City. EMP Shield announced a $1.9 billion semiconductor fabrication facility, while Integra Technologies announced a nearly $2 billion expansion at its Outsourced Semiconductor Assembly and Test (OSAT) company. Foreign direct investment in the state also continues to grow, with more than 580 international employers operating in the state with nearly 70,000 workers.
Promoting Employment Across Kansas (PEAK): Offers ability to retain 95% of payroll tax withholding for 7 to 10 years for qualified companies.
Kansas Downtown Redevelopment Tax Rebate: A rebate of property tax collected on properties that have undergone approved improvements.
High Performance Incentive Program (HPIP): Offers a 10% corporate income tax credit on qualified capital investments of at least $50,000 for companies that pay above-average wages.
The KITE Proof of Concept (POC): Designed to fill a need for support where typical funding mechanisms are not available, acting as a bridge between federal funding for basic research and commercial seed funding by angel or venture investors.
Kansas Department of Commerce
kansascommerce.gov
Kansas Economy
kansaseconomy.org
Greater Topeka Partnership
topekapartnership.com
Greater Wichita Partnership
greaterwichitapartnership.org
Gov. Laura Kelly’s Axing Your Taxes program aims to save Kansas residents more than $500 million over the next three years. The Axe the Food Tax bill aims to eliminate the 6.5% state tax on groceries. The next step proposes a sales tax holiday for back to school supplies. Kelly also proposes the cap for not paying taxes on Social Security income to $100,000.
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