Incentives abound for businesses in
Platte County—from tax credits to development bonds to free job training. As a first step, we recommend that
you visit the Kansas City Area Development Council's web page on incentives www.thinkkc.com
Be sure to take note of the following valuable incentives
mentioned on the ThinkKC site:
Missouri Enhanced Enterprise Zone
Platte County features a Missouri
Enterprise Zone adjacent to KCI Airport. In order to take advantage of the
incentive benefits attached to the zone, your business must meet certain
Enterprise Zone requirements.
The purpose of the Enhanced
Enterprise Zone program is to provide tax credits to new or expanding
businesses in a Missouri Enhanced Enterprise Zone. Enhanced Enterprise Zones
are specified geographic areas designated by local governments and certified by
the Department of Economic Development (DED). An eligible
Platte County business must be located in a Missouri Enhanced Enterprise Zone
(EEZ). Individual business eligibility will be determined by the zone, based on
creation of sustainable jobs in a targeted industry or demonstrated impact on
local industry cluster development. For more information on the EEZ program click here.
Foreign Trade Zone
Greater Kansas City Foreign Trade Zone, Inc.(“GKCFTZ”) is a
not-for-profit corporation registered in the States of Missouri (since 7/30/71)
and Kansas (since 4/13/1973). The intent of the FTZ program is to stimulate economic
growth in the United States. It was designed to promote American
competitiveness by encouraging companies to maintain and expand their companies
in the U.S. The program encourages U.S. based operations by removing disincentives associated with
manufacturing in the U.S. For more information on the Foreign Trade Zone
program, and to secure an application for foreign trade zone status click here
Quality Jobs Program
The purpose of the Quality Jobs program is to facilitate the
creation of quality jobs by targeted business projects by awarding tax credits
to eligible businesses in one of three designations: Small/Expanding”
businesses, “Technology” businesses; and “High Impact” businesses. The program
benefits are based on a percentage of the payroll of the new jobs. The program
benefits are not provided until the minimum new job threshold is met and the
company meets the average wage and health insurance requirements. Tax credits can only be applied to tax liability for the year
in which they were earned. Any unused balance is refundable. The credits may
also be transferred, sold or assigned. For more information on the Quality Jobs
program or to secure an application please click here
Chapter 100 Bonds
The
purpose of the Chapter 100 Property Tax Exemption is to provide a sales tax
exemption on tangible personal property purchased through Chapter 100 bonds for
non-manufacturing purchases. Companies eligible for Chapter 100 bond financing
include manufacturing, warehousing, distribution, office, research and
development, agricultural processing, and services in interstate commerce.
Retail, services in intrastate commerce and others are not eligible. For more information
on Chapter 100 Bonds or to secure an application please click here
BUILD Program
The purpose of the BUILD program is to provide a financial
incentive for the location or expansion of large business projects. The incentives
are designed to reduce necessary infrastructure and equipment expenses if a
project can demonstrate a need for funding. The bonds may be used to finance
public or private infrastructure to support the project, or the new capital
improvements of the business at the project location. Bond proceeds may not be
used for working capital, inventory or other operating costs of the business or
another entity. For more information on the BUILD program or to secure an
application please click here
IDA Bonds
Industrial Development Bonds ("IDB's") were developed by the U.S. Congress and
the Missouri General Assembly to facilitate the financing of business projects.
In 1986, a significant change in the federal tax laws severely limited the use
of tax-exempt IDBs. Eligible projects include: the purchase, construction,
extension and improvement of warehouses, office projects, distribution
facilities, and industrial plants, including the real estate either within or
without the limits of such municipalities, buildings, fixtures, and machinery;
except that any project of a municipality having fewer than eight hundred
inhabitants shall be located wholly within the limits of the municipality. For more information
on IDB bonds, or to secure an application please click here. Or visit our IDA page.
Job Training
The Full Employment Council is a business-led, private, nonprofit
corporation whose mission is to obtain public and private sector employment for
the unemployed and underemployed residents of the Greater Kansas City area. Adults and Youth can take advantage of
classroom training (scholarships and financial assistance available);
internships & work experience; on-the-job training. FEC also offers
training for those people with special learning needs or learning difficulties
to help make them employment-ready. For more information on job training
and career opportunities please click here
MCC-Maple Woods is part of the Metropolitan Community College (MCC) system and offers associate programs
along with transfer and occupational programs. The MCC system operates
throughout the Kansas City metro area and is an important resource for
employers. Also within the MCC system is the Business & Technology College
which as been instrumental in providing special training programs for area employers. For further information please click here
Park University in Parkville, is a
Master's Degree-granting comprehensive college. The main campus is in Parkville
but Park University has locations nationwide and throughout the metro area.
Park offers many majors including specialization in sports medicine and
international business. The college also has a job placement office at the
Parkville campus and is eager to assist their students and area employers. Park
has large business, management and computer degree programs offered for working
adults, and an MBA degree program among others. For more information please click here
The Northland
Career Center, located in Platte City, offers many
training programs such as health services, marketing, diesel mechanics and many
others. The school has a vocational evaluation center for individual
assessment, a learning center for basic skills, a vocational program for
disabled or disadvantaged students and several programs for adult students. For
many years the Center has been a supplier of excellent workers. For more information please click here
