Business Loans and Tax Credits May be Available to Help!
The Martin City Community Improvement District partners with the City of Kansas City, Missouri, and the Economic Development Corporation of Kansas City to offer state and local incentives to businesses that want to locate or expand in Martin City. A few of the programs available are listed below. (The EDC and KCMO staff make the final determination of appropriate local incentives for each business.)
Martin City is a HUBZone
The HUBZone [Historically Underutilized Business Zone] Empowerment Contracting program provides federal contracting opportunities to qualified small businesses located in Martin City. How to apply for the HUBZone program>>
Martin City is in an Urban Renewal Area
The Chapter 353 Program assists in the removal of blight by providing local property tax abatement to development projects located in Urban Renewal Areas (like Martin City.) Assistance may be provided in the form of real property tax abatement on improvements. Contact the EDC to find out if your project qualifies.
Martin City is in an Enhanced Enterprise Zone (EEZ)
State tax credits and property tax abatement may be available to new or expanding businesses that locate in an EEZ. Learn more at edckc.com.
Martin City is an Opportunity Zone
The City of Kansas City, Missouri approved designates 32 census tracts as eligible for the Opportunity Zones Program and Martin City is one of those tracts. Learn more about the program>>
*The U.S. Department of the Treasury has not completed the rules for this program. Information is for planning purposes only and may be subject to change based on the Treasury’s final rule.
The Missouri Works Program
The Missouri Works Program helps businesses access capital through withholdings or tax credits for facility expansions, equipment, and more. Learn more about the program>>
Missouri Brownfield Redevelopment Program
The Missouri Department of Economic Development may issue tax credits for up to 100% of the cost of remediating blighted project property. Learn more>>
Business Use Incentives for Large-Scale Development (BUILD)
To help companies embark on major investment and job creation expansions, the BUILD program provides low-interest loans to qualified borrowers through the issuance of tax-exempt revenue bonds for the acquisition, construction, and equipping of qualified manufacturing production facilities and/or equipment. Learn more>>
SBA 504 Small Business Loans
SBA 504 loans are 100% guaranteed by the SBA and can be used for the acquisition of land or buildings, new construction, renovations, or to purchase machinery and equipment. 504 loans are designed for small businesses with a net worth of less than $15 million, and an average income for the last two years of less than $5 million. A typical 504 loan has three sources of funding, with the 504 loan making up 40% of the loan; outside lenders provide 50%, and the borrower provides 10% as equity. View eligibility requirements>>
Missouri Small Business Resources
The Missouri Small Business Development Center at UMKC offers extensive business services and private business counseling from experienced business and finance professionals. Learn more>>
KCMO Energy Incentives & Rebates
EVERGY
Energy-efficiency incentives can add value to your business while helping you save energy and money each month. Find rebates and programs that align with your business at Evergy.com>>
SPIRE
Spire offers natural gas rebates on everything from HVAC, water heaters, and boiler systems to tune-ups, steam traps, and even food service equipment. Visit Spire.com to learn more>>
Search All Missouri Business Incentive Programs>>
See Commercial Real Estate Investment Opportunities in Martin City>>
If you have questions about business incentives that may be available to your business, please contact Brian Haggard at EDCKC. 816-691-2133 or BHaggard@edckc.com