Check out some of the programs below designed to help provide incentives for your small business. There are also classes through the Small Business Developmentcenter and the Flint Hills Technical Colleges “Start Your Own Business” class, individual consulting opportunities and a host of other areas in which we can help you! Emporia is a community that encourages entrepreneurship, and we are here to help new and existing businesses meet their goals!
Emporia Neighborhood Revitalization Program – This program offers a property tax rebate on properties in certain areas that receive revitalization investments. (pick up a form in the Main Street office)
Kansas Main Street Incentives Without Walls – Administered through the local Emporia Main Street Program
Cooper Carts recently received an IWW loan.
Zero interest loan is a 3:1 matching loan up to $20,000 within a defined district. Emporia Main Street fills out the IWW application for businesses, but there are some pieces of information required from applicants. See Emporia Main Street for details.
Network Kansas-As a network Kansas Partner, Emporia Main
Street can apply for funds that match the terms of other local loan funds (like IWW or Trusler) in a 60/40 split. New Market Tax Credits- Common on the coasts and larger urban areas, the New Market Tax Credits are just now being used in Kansas. This 35% tax credit can be used in census tracts deemed “distressed” or “severely distressed”, which is virtually everywhere with the exception of properties west of Industrial Road. Kansas Historic Tax Credits- We are hoping to pursue a historic district that would allow for the expanded use of this 25% (for profit) or 30% (not for profit) state tax credit. These tax credits can be used on qualified expenditures in historic buildings or buildings deemed as “contributors” within historic districts. These tax credits can even be used to revitalize current non-contributing buildings to make them a “contributor” to the aesthetic of a district. Things like plumbing, electrical, air conditioning and other mechanical issues are typically covered under this program. Historic Tax Credits are popular enough that a series of developers specialize in their use. We have had inquiries from developers about a historic district in Emporia, but obviously we haven’t been able to capitalize on their interest due to the lack of a district. State Historic Tax Credits are transferable (meaning you can sell the credits for cash).
High Gear was one of the first projects in Kansas to receive REAP tax credits.
REAP programs provide tax credits for upgrades on structures that have an energy efficient component to them. Recently, High Gear in downtown Emporia utilized REAP to receive a tax credit on upgrades on electrical systems and other efforts undertaken during the remodeling of their building.
Similar to the under $200,000 program with some different forms. Luckily, we have access to USDA representatives that are happy to help businesses through the application process.
JOBS (Joint Opportunities for Building Success) Grants-These grants can be applied for through local banks that are
Scott Dorcas recently received Trusler Loan Funds to help purchase and renovate Thompson Auto Repair.
Up to $25,000 per application can be used for economic development or other revitalization efforts, if funds are granted.