Kansas Revitalization Plan Focuses on Tech-Based Economic Development

Kansas Revitalization Plan Focuses on Tech-Based Economic
Kansas Governor Kathleen Sebelius’ statewide economic revitalization plan aims to boost tech-based economic development (TBED) in the state.

Neil Ridley
Social, Economic and Workforce Programs Division National Governors Association for Best Practices

Among key components of the plan:

* Kansas Business Incentive Program. The program would use a flexible approach to distribute tax credits to businesses expanding or locating in Kansas. It also would use a sliding scale of incentives based on project quality and taking into account regional economies.

* Rural Development Tax Credits. The tax credits would create regional pools of venture capital to assist entrepreneurs and fledgling businesses in rural areas and would be issued to regional foundations. The foundations could then sell the credits to raise money for their regional venture capital pools.

* Training Centers of Excellence. These centers would specialize in particular educational areas of expertise. Also, an integrated workforce system would include the Kansas Department of Commerce, the Kansas Department of Human Resources, Regents, community colleges, and technical schools, with enhanced investment in existing institutions.

Other proposals in the plan include developing a one-stop web portal for information on agencies offering assistance to new businesses and regional angel networks. The plan also promotes using local options for sales tax collection and usage, with proceeds funding capital for start-up or early-stage ventures.

* Kansas Prosperity Summit http://kdoch.state.ks.us/busdev/summit.htm

http://www.nga.org/center/frontAndCenter/1,1188,C_FRONT_CENTER%5ED_6000,00.html