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STATE OF KANSAS INCENTIVES
- The Promoting Employment Across Kansas (PEAK) program has incentivized business relocation and expansion since 2009 by allowing eligible companies to receive 95% of the Kansas withholding tax of PEAK-eligible employees/jobs that are paid at or above the county median wage where the PEAK business facility is located.
- The Kansas Industrial Training (KIT) program covers many costs involved in job creation and training including instructor salaries, curriculum planning, materials and other costs.
- The Kansas Industrial Retraining (KIR) program covers many costs of job retention and retraining for employees of restructuring companies who may lose their jobs because of inadequate or obsolete skills.
- The High Performance Incentive Program (HPIP) provides tax incentives to employers that pay above-average wages and have a strong commitment to skills development for their workers. The program provides a substantial investment tax credit for new capital investment in Kansas and a related sales tax exemption.
- 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. Learn more about this and other sales tax exemptions.
The City of Manhattan’s business incentive efforts are focused on the creation of high-paying jobs, working closely with the Manhattan Area Chamber of Commerce and regional partners.
- Customized packages that include tax abatements, loans, grants, IRBs, training support, infrastructure improvements
- Dedicated city sales tax for economic development
- Three Federal Opportunity Zone tracts adjacent to Kansas State University
FEDERAL AND UTILITY INCENTIVES
- New Market Tax Credits (NMTC) — The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called community development entities (CDEs). The credit totals 39 percent of the original investment amount and is claimed over a period of seven years.
Manhattan has several areas in designated census tracts for funding, including areas around Kansas State University and the central business district. Additional information on the NMTC program can be found at https://www.cdfifund.gov/
Projects utilizing the NMTC program will realize up to 20% of the total investment in up-front cash. This can be structured to benefit the company in either a company-owned or developer-owned facility.
- Evergy — Evergy is an investor-owned energy company serving more than 1.6 million customers across Kansas and Missouri, a service area stretching 316 miles west to east and 325 miles north to south, with 62,000 miles of transmission and distribution lines and over 800 substations to deliver power to its customers.
Evergy’s economic development team’s role is to promote and support industry development for companies and communities throughout their service area. Evergy provides comprehensive support for businesses relocating to or expanding in the Evergy service area. Economic growth in communities is supported through local partner programs that help build strong business environments so communities can grow and prosper.
Additional information on Evergy economic development resources, business support and incentives, including the Economic Development Rider Incentive, can be found at www.evergyed.com.