KS Speedway West - The Land Source

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KS Speedway West - The Land Source
168 Acres Directly Adjacent
the Kansas Speedway
off Interstate 70’s 110th Street exit
SWC Speedway Blvd. & State Ave.
Kevin Tubbesing
Principal/Broker, CCIM
913.562.5608
[email protected]
Frank C. “Pat” Daniels, Jr.
Principal/Broker, CCIM
913.951.8401
[email protected]
The Land Source
100 West 9th Street
Kansas City, MO 64105
913.562.5622
f: 816.527.0890
TheLandSource.co
• Unified ownership
• Access planned and ready
• Located in Bonnor Springs, KS
• By all new Hollywood Casino
• All utilities available
• Amenity rich neighbors with
adjacent prof. team KC Wizards
supported youth soccer fields,
Sandstone ampitheater, 18-hole
golf course, and county park.
100 West 9th Street, Kansas City, MO
Development in
the western
part of
Wyandotte
County over
the last ten
years has
ignited a
renaissance
that's primed to
reach all parts
of the community. This
resurgence has
been driven by
one of the top
destinations in
the entire
Midwest –
Village West. A
premier tourist
and retail destination including Kansas
Speedway,
Nebraska
Furniture Mart,
Cabela's ,
The Legends at
Village West,
and
Schliterbahn
Vacation
Village.
This area at the
crossroads of
Interstates 70 &
435 has truly
become a
destination
location for the
whole Midwest
region.
TheLandSource.co
913.562.5622
The Hugoton Gas Field is the largest natural gas field in the United States, underlying almost 5,700 square miles of land in Southwestern Kansas.
CUSTOMIZED INCENTIVE PROPOSALS
WORKFORCE DEVELOPMENT PROGRAMS
Our Business Recruitment Team creates customized incentive proposals for clients based on capital investment,
job creation, employee salaries and each company’s unique needs. We also coordinate with community
economic development professionals for local incentives such as discounted building and land purchases,
reduced property taxes, build-to-suit agreements and finance packages. All types of assistance offered for new
company locations are also available for subsequent expansions.
The Department of Commerce has three workforce training programs to offset a company’s training costs.
Companies creating new jobs may qualify for Investments in Major Projects and Comprehensive Training
(IMPACT) or Kansas Industrial Training (KIT) assistance. Eligibility for either program depends on the number
of jobs created and the corresponding wages. We also have the Kansas Industrial Retraining (KIR) program to
retrain a Kansas company’s existing workforce on new technology or production activities. Projects involving a
Kansas Basic Industry – which includes manufacturing, distribution or regional/national service facilities – may
qualify for these programs.
STATE POPULATION/AREA
FINANCE PROGRAMS
In 1990, Steve Hawley, of Salina, Kan., was in charge of placing the Hubble Space Telescope into orbit during a Discovery space shuttle flight.
2.8 million/82,282 sq. miles
New! Promoting Employment Across Kansas (PEAK) –
This program offers qualified companies the ability to retain 95 percent of their payroll withholding tax for up
to five to seven years. PEAK is available to new operations in Kansas as well as relocated operations to the
state. Companies need to create at least 10 new jobs within two years in metropolitan counties or five new
jobs within two years in all other counties of the state. High-impact projects that create 100 new jobs within
two years can retain 95 percent of payroll withholding tax for up to seven to 10 years. The number of years
that the withholding tax can be retained depends on how much the annual median wage of the jobs at the
Kansas worksite will exceed the current county median wage and the discretion of the Kansas Department of
Commerce.
Wind and Solar Bond Financing – This allows for up to $5 million in bond financing per project for
eligible wind and solar energy manufacturers. The bonds are paid off from the payroll withholding tax of the
new jobs. To qualify, a project must create at least 200 new jobs within five years, pay at least a $32,500
average salary and generate a minimum capital investment of $30 million.
Kansas Economic Opportunity Initiatives Fund – The Department of Commerce can provide a
zero-percent interest forgivable loan to qualified companies. This loan can offset costs associated with the
establishment of a new facility or the expansion of an existing facility. Eligible costs include site improvements,
construction, build-out and purchases and relocation of machinery and equipment. The loan is forgiven in 20
percent annual increments over a five-year period based on meeting the job and payroll targets. Approval
of funding for this program is based on the number of new jobs created, the level of wages paid to the new
employees and the economic impact of the project.
Y
ou’re looking for a great place to grow
your business. A place with low operating
costs, talented workers and business-friendly
policies. A place with competitive financial
incentives and leaders who know business. A place
where innovation is the norm, not the exception. If
this sounds like the perfect place for your business,
then Kansas is where you need to be.
But don’t just take our word for it. Ask the folks at
Site Selection and Trade & Industry Development
magazines, both of which named Kansas a Top
10 state for business. Or better yet, ask the folks at
Cerner, General Motors, U.S. Bank, J.P. Morgan
and Siemens Energy, all of which have announced
new facilities in Kansas in the past two years.
These are global companies that could have gone
anywhere in the world, and they all saw Kansas
as the place to be. So come take a look at Kansas.
We think you’ll like what you see.
SITE LOCATION ASSISTANCE
The Business Recruitment Team for the Kansas
Department of Commerce can assist you with
various site location needs. Whether you’re
exploring buildings or sites, our team has the
resources and information to help you make an
informed decision. To preview available sites
and properties, as well as incentive programs
in Kansas, visit our Recruitment website at
ThinkBigKS.com.
Industrial Revenue Bonds – Industrial Revenue Bonds are a popular method of financing up to 100
percent of a growing business’ land, building and equipment. IRBs are securities issued by cities and counties
to provide funds for creditworthy companies to acquire land, construct and equip new facilities or remodel and
expand existing facilities. IRBs allow fixed-rate financing for the life of the bond for the project.
Community Development Block Grant – Eligible small city and county governments may apply for
Community Development Block Grant economic development funds to make water, sewer, rail spur, roadway or
other infrastructure improvements designed to assist companies in creating jobs. These funds may also be used
by a business to acquire land or buildings, construct or renovate facilities, purchase machinery and equipment
or for working capital. Under this program, companies can apply for up to $35,000 per job created with
a maximum limit of $750,000. At least 51 percent of the jobs created with CDBG funding must be held by
individuals who, at the time of hire, meet the low- to moderate-income guidelines for the county location.
Infrastructure funding requires that half of the funding be paid back over a 10-year period at a rate of 2
percent. Financing for working capital, equipment and real property carries a fixed rate equal to 4 percent or
3 percent below prime, whichever is greater, set on the award date. The term of the loan depends on the type
of assets being financed: working capital up to five years, equipment up to 10 years and real property up to
15 years.
Partnership Fund – The Department provides low-interest state funds to cities and counties for infrastructure
improvements that support Kansas basic enterprises such as manufacturing and distribution. Eligible projects
may include construction, rehabilitation or expansion of public facilities, including roads, streets, highways,
water supply and treatment facilities, water distribution lines, wastewater collection lines and related
improvements.
LARGEST CITIES
Wichita ............... 366,046
MSA – 546,000
Overland Park ..... 171,231
MSA – 1.8 million
Kansas City, KS .... 142,562
MSA – 1.8 million
Topeka ............... 123,446
MSA – 170,000
Kansas Bioscience Authority – Commerce
works in partnership with the Kansas Bioscience
Authority to assist in the expansion and recruitment
of bioscience companies. The KBA has direct
financing programs and other resources that can
be used to recruit new bioscience companies
and world-class scholars, fund equipment
and lab space for research and facilitate the
commercialization of bioscience discoveries.
All of these programs offer direct financial assistance to pay a negotiated portion of the costs to train a
company’s employees. Companies may apply the assistance toward items such as instructors’ salaries; meals,
travel and lodging (including out-of-state or international travel); video development; textbooks and training
manuals; supplies and materials; temporary training facilities; curriculum planning and development and in
certain situations reimbursement of trainee’s wages for up to six months.
INCOME TAX INCENTIVES
Enterprise Zone Program – This program offers corporate income tax credits for net, new job creation
and qualified capital investment in Kansas. Eligibility for this program depends on the type of business and the
number of jobs created. Manufacturers need to create at least two net, new jobs, non-manufacturers five net,
new jobs and ancillary support and headquarters at least 20 net, new jobs.
The Enterprise Zone job creation and investment tax credits are available throughout Kansas except for the
metropolitan counties of: Johnson, Wyandotte, Douglas, Shawnee, Sedgwick and Leavenworth. All other
areas of Kansas are considered in an Enterprise Zone and can offer the benefits of this program to eligible
companies. The benefits include corporate income tax credits of $1,500 per net, new job created and a
1percent tax credit on qualified net, new capital investment. Designated non-metropolitan counties in Kansas
can offer an enhanced tax credit of $2,500 per net, new job created. The credits can be used to significantly
reduce a firm’s corporate income tax liability in a given year, and unused credits may be carried forward to
future tax years.
High Performance Incentive Program – This program provides a 10 percent corporate income tax
credit on the qualified capital investment of an eligible company. Qualified capital investment can include such
items as the purchase or lease of a facility or equipment, remodeling or build-out costs, fixtures, furniture and
computers. Equipment transferred to Kansas from out-of-state is also credited at the original acquisition cost.
The 10 percent tax credit is awarded to companies that operate an eligible business, pay above-average
wages and invest in employee training. The credits can be used to significantly reduce a company’s corporate
income tax liability in a given year. Credits must be used within a consecutive 10-year period.
A key component of the High Performance Incentive Program is the completion of the Project Description form,
which must be submitted to the Department of Commerce prior to the company signing any document, such as
a lease or purchase agreement, which commits the company to locating or expanding in Kansas.
Amelia Earhart, from Atchison, Kan., was
the first woman granted a pilot’s license
by the National Aeronautics Association
and the first woman to fly solo across the
Atlantic Ocean.
The White Castle fast-food chain
came from the grill of Wichita,
Kan., cook Walter Anderson.
Renowned scientist Takeru Higuchi
set up the pharmaceuticals program
at the University of Kansas in the
1960s, where he developed
slow-release time medicines.
Dwight D. Eisenhower, of Abilene, Kan., was
the 34th President of the United States.
PROPERTY TAX INCENTIVES
Machinery and Equipment Property Tax
Exemption – Commercial and industrial machinery
and equipment acquired by qualified purchase or
lease or transferred into the state is exempt from state
and local property tax. The exemption pertains to
machinery and equipment used in the expansion of an
existing facility or the establishment of a new facility.
The exemption covers machinery and equipment used in
manufacturing or warehousing/distribution, commercial
equipment, computers, desks and chairs, copiers and
fax machines.
Property Tax Abatement – Cities or counties may
exempt real property from ad valorem taxation. The
tax abatement can include all or any portion of the
appraised buildings, land and improvements. A total
or partial tax abatement may be in effect for up to 10
years after the calendar year in which the business
commences its operations. Any property tax abatement
is the decision of the city or county.
KANSAS QUICK FACTS
Kansas Education
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SALES TAX EXEMPTIONS
OTHER TAX INCENTIVES & BUSINESS INITIATIVES
Sales Tax Exemption – For qualifying companies, both the Enterprise Zone
Program and High Performance Incentive Program offer a 100 percent sales
tax exemption on the purchase of labor and materials to construct or remodel
a facility, as well as on the machinery, equipment, furniture and fixtures used
in the facility. The sales tax exemption is available throughout the entire
state of Kansas for qualifying companies.
Right-to-Work State – Union membership is well below the national average.
Other Sales Tax Exemptions include:
1) Labor related to original construction
2) New machinery and equipment for manufacturing and distribution. This
also includes pre- and post-production machinery and equipment, including
raw material handling, waste storage, water purification and oil cleaning,
as well as ancillary property such as gas pipes, electrical wiring and
pollution control equipment
3) Tangible personal property that becomes an ingredient or component part
of a finished product
4) Tangible personal property that is immediately consumed in the production
process, including electric power, natural gas and water
5) Incoming and outgoing interstate telephone or transmission services
(WATTS)
6) Real and personal property financed with an Industrial Revenue Bond (IRB)
Inventory Tax Exemption – All merchant and manufacturers’ inventories are
exempt from property taxes.
Research Tax Credit – Kansas offers an income tax credit equal to 6.5 percent
of a company’s investment in research and development above an average
expenditure of the previous three-year period. Twenty-five percent of the allowable
annual credit may be claimed in any one year.
No Local Income Taxes – Kansas cities and counties do not impose income or
earnings taxes on personal or corporate income.
Phase Out of Kansas Franchise Tax – Kansas is phasing out its franchise
tax and it will be repealed altogether by tax year 2011.
Workers’ Compensation – The Kansas workers’ compensation program has
undergone major changes over the past few years, which has resulted in our
premium rates being ranked 8th lowest in the U.S.
Renewable Energy – Kansas has a variety of incentive programs available for
renewable energy, including the wind and solar bond financing program as well
as income tax credits for biodiesel, ethanol and biomass-to-energy facilities and
other renewable energy operations.
Reduction in Corporate Income Tax Rate – Kansas will reduce its
corporate income tax rate to 7 percent by 2011.
AFFORDABLE LIVING
The cost of living in Kansas is 8.5 percent below the national average, and
housing costs are 35 percent below the national average.
Kansas Transportation
• Kansas ranks third nationally with 140,609 total road and street miles and 10,607 highway miles.
Interstates 70 and 35 cross Kansas and connect with I-29, part of the North American Free Trade Agreement
(NAFTA) corridor. Our strategic location allows next-day freight delivery to nearly 70 percent of the U.S.
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Hutchinson is nicknamed the Salt City because it was built above some of the richest salt
deposits in the world. Salt is still actively mined, processed and shipped from Hutchinson.
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Sumner County is known as the Wheat Capital of the World.
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Harry Ford Sinclair broke into the oil industry in Independence, Kan.,
and went on to build Sinclair Consolidated Oil Corporation into the
nation’s largest independent oil company in the early 1900s.
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Dodge City, Kan., is one of the top five windiest U.S. cities.
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• Our educated labor force works at a very competitive rate, which makes our state’s cost of doing business
nearly 28 percent below the most expensive state. Kansas has several major universities educating our future
workforce: University of Kansas, Kansas State University, Wichita State University, Fort Hays State, Pittsburg
State, Emporia State, Washburn University and 26 community and technical colleges statewide.
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• Kansas ranks 16th in the nation for percent of adults, 25 and over, with a high school education and 14th
for percent of adults with a college degree.
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• Kansas has one of the most educated and skilled labor pools in the nation as evidenced by the state’s
commitment to education spending which is 12th best in the nation.
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• Kansas ranks in the top 10 in the U.S. in railroad mileage with 4,776 miles of track. Four Class I and
13 Class III secondary rail carriers ensure freight service to virtually anywhere in Kansas, since the countless
tons of grain grown here have for decades mandated a comprehensive rail system.
• The largest airports are Kansas City International and Wichita Mid-Continent, with 11 national and four
regional carriers. Eight regional airports also offer commercial air service.
DIVERSIFIED ECONOMY
Agriculture, forestry, fishing,
and hunting .......................................... 2.9%
• Mining ................................................. 2.8%
• Utilities ................................................. 2.3%
• Construction ......................................... 3.6%
• Manufacturing .................................... 15.2%
• Wholesale trade ................................... 6.2%
• Retail trade ........................................... 6.6%
• Transportation and warehousing,
excluding Postal Service ......................... 3.6%
• Information ........................................... 5.9%
• Finance and insurance ........................... 5.6%
• Real estate and rental and leasing ........... 8.2%
• Professional and technical services .......... 5.6%
• Management of companies
and enterprises ..................................... 1.6%
• Administrative and waste services ........... 3.0%
• Educational services .............................. 0.5%
• Health care and social assistance............ 7.2%
• Arts, entertainment, and recreation .......... 0.4%
• Accommodation and food services .......... 2.4%
• Other services, except government .......... 2.4%
• Government........................................ 14.2%
•
U.S. Dept. of Commerce Bureau of Economic Analysis
Kansas Electricity, Natural Gas, and
Telecommunications
• Electricity costs in Kansas are below the national
average supplemented by the excess electric
generating reserve and transmission capacity
through the three largest investor-owned companies
in the state.
• Kansas is also below the national average for
natural gas prices for industrial consumers. The
5,700 square-mile Hugoton Gas Field makes the
state a leading natural gas exporter.
• Thanks to Kansas’ central location, businesses
have access to east-west and north-south major trunk
lines, connecting to a nationwide fiber optic network.
To learn more about the benefits of
doing business in Kansas, call the
Kansas Business Recruitment Team
at (913) 345-8347,
e-mail at [email protected]
or visit ThinkBigKS.com/bigonbusiness.
City of Bonner Springs, Kansas
Development Incentives
Community and Economic Development Department
205 E Second . P O Box 38 . Bonner Springs KS 66012
913.667.1703 DL 913.441.8199 F
[email protected]
www.bonnersprings.org
The goal of the City of Bonner Springs is to promote and foster quality community and economic
development in the City. The City’s objectives are: retention and expansion of existing businesses;
attraction of new commercial, office, retail and industrial businesses; creation of new jobs within the
community; creation of housing opportunities for a variety of income levels; attraction of additional private
investment and improvement of the overall quality of life for its citizens. One of the approaches used by the
City to help attain these goals and objectives is to provide certain incentives. Upon request, the City Council
may consider on a case-by-case basis any of the following incentives to attract new businesses,
employment opportunities and housing developments to the community.
•
Tax Increment Financing (TIF)
TIF is a real estate redevelopment tool applicable to industrial, commercial and residential projects. TIF
uses the anticipated increases in real estate tax revenues to retire the bonds sold to finance qualified
redevelopment costs. Qualified costs can include: public improvements (streets; sanitary sewers; storm
sewers; drainage improvements; underground water, gas, electrical services in public right of way); site
preparation; parking facilities; landscaping and decorative amenities and land acquisition costs. TIF cannot
be used for the construction of buildings or other structures to be owned or leased by a developer.
•
Community Improvement District (CID) Financing
CID financing allows cities to levy special assessments or a sales tax of up to 2% within a Community Improvement District (CID) and to use proceeds of the assessments and/or sales tax to either finance projects
within the CID or to pay debt service on Special Obligation (SO) or General Obligation (GO) bonds issued to
finance projects within the CID.
•
Transportation Development District (TDD) Financing
A TDD may be created to finance certain projects to include bridges, streets, interchanges, intersections,
signage, signalization, parking lots, parking garages, bus stops and stations, airports, docks, lake or river
ports, railroad, light rail, mass transit facilities, land acquisition and any other transportation related project or
infrastructure in connection with a development.
•
Industrial Revenue Bond IRB) Financing
IRB financing is a cost-efficient method that finances up to 100% of the purchase of land and costs to
construct and equip new facilities or the costs to acquire, remodel and expand existing facilities. IRBs are
securities issued by cities, counties and the Kansas Development Finance Authority. There are tax-exempt
and taxable bonds based upon what is financed. Other benefits include eligibility for a 100% property tax
abatement for up to ten years and a sales tax exemption for labor and materials purchased for new facilities.
The City requires a 50% Payment in Lieu of Taxes (PILOT), which results in a property tax abatement of
50% for up to ten years.
•
Special Benefit Districts
Special Benefit Districts finance public streets, sanitary sewers, water mains, storm water and other public
improvements when those improvements confer a special benefit upon property within a defined area.
Established special benefit districts levy and collect special assessments upon property in that district and
provide for the payment of all or part of the improvement costs from proceeds of such special assessments.