Performance Based Incentives
The State of Kansas has the following performance based incentives:
• High Performance Incentive Program (HPIP)
• Promoting Employment Across Kansas (PEAK)
• Machinery & Equipment Expensing Deduction
• Kansas Industrial Training (KIT) Program
• Kansas Industrial retraining (KIR) Program
• Work Opportunity Tax Credit
The State of Kansas exempts the following:
• Machinery & Equipment Property Taxes
• Utility Sales Tax
• Machinery Sales Tax
• Inventory Property Tax
LOCAL PERFORMANCE-BASED INCENTIVES
The City of Emporia, Kansas has a the following incentive policies for Property Tax Abatement, Industrial Revenue Bonds (IRB’s), Infrastructure, Land at a reduced or no cost and performance-based cash grants are some of the local performance-based incentives.
Property Tax Abatement: The minimum thresholds for a new qualifying company are investing at least $2 Million in a building, 25 fulltime jobs with at least an annual salary of $33,528. The business may qualify for up to a 10 year 100% real property tax abatement less the 8 mills which are not exempted.
Industrial Revenue Bonds (IRB’s): Based upon the credit worthiness of a qualifying business, IRB’s maybe issued which provide for sales tax exemption on building materials and a real property tax exemption. If the building is leased to the company and not owned by the company, then a taxable IRB may be utilized.
Infrastructure, Land and Performance-Based Cash Grants: Every project has unique challenges; the City of Emporia has the flexibility to be creative. We have the ability to close deals and the resources to mitigate the upfront expenses for a qualifying business.