Kansas Economic Growth Act focuses on 6 key components to assist the entrepreneurial economy

Kansas Governor Kathleen Sebelius signed important measures into law last Monday. Overall, Kansas is committing more than $500 million (over 10 years) to support a host of initiatives designed to stimulate entrepreneurship and technology development.

(Thanks to the National Dialogue on Entrepreneurship for passign this along- Russ)

The Kansas Economic Growth Act aims to help grow and diversify the Kansas economy by fostering entrepreneurship in the state and investing in and growing the Kansas bioscience economy. The act is in two parts: the Kansas Entrepreneurship Initiative and the Kansas Bioscience Initiative.

The Kansas Economic Growth Act contains six key components:

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Kansas Community Entrepreneurship Fund: Will fund community organizations that provide seed financing to entrepreneurs.

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Kansas Center for Entrepreneurship: Creates a clearinghouse to assist entrepreneurs seeking training, finance or other resources.

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Enterprise Facilitation Program: Expands support for use of the enterprise facilitation program pioneered by the Sirolli Institute (www.sirolli.com).

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Angel Investment Tax Credit Program: Provides a 50% tax credit (up to $50,000) for investments in qualified Kansas businesses.

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Downtown Redevelopment Program: Aids Kansas towns with tax incentives for downtown business development.

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Kansas Bioscience Initiative: Increases funding for a host of biotechnology-related programs.

For background on these initiatives, please visit the websites of Kansas House Republicans at http://www.kshousegop.org/economic_growth or the Kansas Technology Enterprise Corporation at http://www.ktec.com/news/legislator/legislativewatch.htm