The most-used incentive program for commercial development in the Wichita region is industrial revenue bonds, which are meant to encourage business expansion, retention and job creation. The Wichita area is one of the top regions in Kansas for approved property tax breaks through revenue bonds — a statewide program that has resulted in a significant increase in forgone tax revenue in the past decade as property valuations rise and higher-priced projects seek incentives, a state audit reported in July. Sedgwick County has foregone $209 million in property taxes through industrial revenue bonds since 2010, with the city of Wichita giving up $52 million.
Read more: Wichita Business Journal
