In the Greater Wichita region, applicable businesses can benefit from a wide array of incentive programs ranging from workforce and tax incentives to industrial revenue bonds. The Greater Wichita Partnership team is here to provide information and connections.
The following is an introduction to State of Kansas incentive programs. Please download the full list of incentives for details about the programs.
PEAK is the state’s cash-equivalent economic development tool allowing reimbursement up to 95% of state withholding taxes of eligible employees for a period of 5-10 years. Minimum qualifications for companies include paying new FTEs above county median wage and to commit to hiring at least ten new employees within two years (or five in rural counties).
HPIP was created to incentivize high-performing companies choosing to invest in significant capital investments and paying above average wages for their industry. If the company invests over $1 million of capital investment (or $50,000 in rural counties), it qualifies for a 10% income tax credit above the first $1 million. This benefit also provides an employee training tax credit and a sales tax project exemption. Minimum qualifications of capital investment and paying above average wages apply.
This program may be used to assist firms involved in net new job creation. Training can include subjects that provide knowledge and specific skills necessary for job entry including instruction on the company’s own production equipment on the plant floor or on similar machinery in a classroom setting. To be eligible, a company must create at least one new position at an average wage equal to or greater than the median wage for their county.
This program provides training assistance to companies in industries that are restructuring or retraining their workforce due to changing /upgrading technology and to companies diversifying production activities. A company must show that employees to be trained are likely to be displaced because of obsolete or inadequate job skills and knowledge.
The following is an introduction to incentive programs specific to the City of Wichita and Sedgwick County. Please download the full list of incentives for details about the programs.
The City of Wichita and/or Sedgwick County may exempt property financed with IRBs from property taxes for a period of up to ten years. Building materials and equipment permanently installed will be exempt from state and local sales taxes, subject to local governing body approval.
Aimed at creating an inventory of ready-to-go Class A office space and large-scale industrial buildings in Wichita and Sedgwick County, the speculative abatement program provides the perfect opportunity for businesses looking to jumpstart their expansion or relocation. The program offers a 95% property tax abatement for the first five years and 50% for the next five years without a tenant or job creation commitment if at least half of the building is leased at the five-year mark.
The municipalities and counties in the region may exempt real property from taxation for a period of up to ten years. This may include all or any portion of both real and/or tangible personal property used exclusively in:
