The Kansas Senate on Thursday approved new development incentive to help win the recruiting battle for a $4 billion economic development prospect that’s been characterized as one of the biggest projects in state history. The chamber voted 32-7 to approve the package of incentives for the mysterious development prospect that is considering Kansas along with another site for what Lt. Gov. David Toland described as the largest private-sector investment in state history. The bill creates a special tax incentive for economic development projects with at least a $1 billion investment, although a new provision was added to reduce corporate income taxes in order to provide a benefit to existing businesses. The incentive also would be eligible to suppliers that sell more than $10 million worth of products to the primary project.
Source: Sunflower State Journal
