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Kansas Governor's Revitalization Plan Favors TBED

October 03, 2003

Gov. Kathleen Sebelius made public on Wednesday the details of a statewide economic revitalization plan designed to stimulate and strengthen the Kansas economy. Included in the plan are several items that could help boost tech-based economic development (TBED) in the state:

  • Kansas Business Incentive Program. The program would use a flexible and innovative 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 Gov. Sebelius's plan include developing a balanced renewable energy plan for Kansas, a one-stop web portal for information on agencies offering assistance to new businesses, and regional angel networks. The governor would promote using local options for sales tax collection and usage, with proceeds funding capital for start-up or early-stage ventures.

For the life sciences, Gov. Sebelius recommends developing an enhancement program to include Kansas Research & Development (R&D) Tax Increment Financing, net operating loss carryover for Kansas R&D, Kansas R&D Vouchers, Kansas Emerging Strategic Technology Acquisition Program, and an entrepreneurial mentorship program.

Seven regional economic development plans constitute the governor's revitalization plan. The regional chairs from the seven regions are part of the Governor's Economic Policy Council, which will help manage the process of implementing the plan. For more information, visit: http://www.kansascommerce.com/summit