Leawood and the State of Kansas offer several financial tools to help make the expansion of your business in Leawood, or the move of your business to Leawood, a little easier on the P&L. Below are some of the tools available (please consult with our EDC staff, or the Leawood City Administrator, for more details). All of these tools are subject to approval by the Leawood Governing Body.
Leawood Tools:
- Special Benefit District (SBD):
- Provides for public improvements such as streets, stormwater management, etc., associated with the real estate development.
- Transportation Development District (TDD):
- Sales tax or a property tax special assessments can be charged within the district to be used for repayment of TDD eligible project costs, which may include roads, traffic signals, parking lots, sidewalks, and related utility relocation. Kansas law dictates the specific eligible expenses eligible for Governing Body review.
- Community Improvement District (CID):
- Existing developments that were built at least twenty years prior to the date of the applicant’s petition are eligible to apply for CID financing.
- Funds can be used to pay for a variety of improvements within eligible developments by utilizing a development-specific sales tax within the development.
- Industrial Revenue Bond (IRB):
- Used to finance the purchase of land, land improvements, and production-related machinery and/or equipment, and if leased, with an asset life span at least equal to the term of the lease.
- Tax Increment Financing (TIF):
- Channels funding toward improvements in areas where development/redevelopment may not otherwise occur by pledging future gains in taxes to assist in financing those improvements.
- Existing developments that were built at least twenty years prior to the date of the applicant’s petition are eligible to apply for CID financing.
More detailed information about the programs above can be viewed in the Leawood Capital Improvement Program document – Click here to view or download.
Kansas Tools:
The Kansas Department of Commerce offers a diverse portfolio of financial incentives for businesses looking to locate or expand in Kansas. Below are examples of more commonly used incentives.
For a complete listing click here to Visit their website →.
- Promoting Employment Across Kansas (PEAK)
- To encourage economic development in Kansas by incenting companies to relocate, locate or expand business operations and jobs in Kansas. During the benefit period, participating PEAK companies may retain 95 percent (95%) of the payroll withholding tax of PEAK-Eligible employees/jobs that pay at or above the county median wage where the operations and jobs will be located.
Visit their website →
- To encourage economic development in Kansas by incenting companies to relocate, locate or expand business operations and jobs in Kansas. During the benefit period, participating PEAK companies may retain 95 percent (95%) of the payroll withholding tax of PEAK-Eligible employees/jobs that pay at or above the county median wage where the operations and jobs will be located.
- 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.
Visit their website →
- Provides tax incentives to employers that pay above-average wages and have a strong commitment to skills development for their workers.
- Kansas Industrial Retraining (KIR):
- A job retention tool that helps employees of restructuring companies who are likely to be displaced because of obsolete or inadequate job skills and knowledge.
Visit their website →
- A job retention tool that helps employees of restructuring companies who are likely to be displaced because of obsolete or inadequate job skills and knowledge.
- Kansas Industrial Training (KIT):
- The KIT program may be used to assist firms involved in job creation. Training can include pre-employment, classroom and on-the-training by in-house instructors or vendors. Pre-employment training may be used to allow the company and prospective employees an opportunity to evaluate one another before making employment commitments.
Visit their website →
- The KIT program may be used to assist firms involved in job creation. Training can include pre-employment, classroom and on-the-training by in-house instructors or vendors. Pre-employment training may be used to allow the company and prospective employees an opportunity to evaluate one another before making employment commitments.
