Topeka Business Incentives
Doing Business in Topeka
Topeka is a vibrant place for many businesses and organizations to start, launch, or grow operations. Not only does the state of Kansas offer a competitive tax structure, but the area’s commitment to innovation, small business growth, and the development of minority businesses is quite unique. Topeka boasts a workforce of over 400,000 along with a fresh source of talent from the area’s major universities. Aside from this, several incentives are available to help businesses drive growth, train employees, make real estate improvements, and more. The combination of these factors provides an important advantage to those operating in or expanding to, the area. The details of eligibility requirements and specific benefits vary by incentive program. A high-level overview of program details is provided below.
Topeka Business Incentive Programs
- Downtown Grant – The grant is a financial incentive designed to encourage residential and commercial improvements of buildings in the Capital City Business Improvement District. Grant amounts are reimbursements for actual monies spent on qualifying projects. Applications are considered on a first-come, first-serve basis according to the date of receipt until all funding has been awarded. The grant committee makes all decisions about which applicants will receive an award.
- Topeka Small Business Incentive Program – This program is designed to create a sustainable economic impact that increases prosperity, job opportunities, and quality of life for Topeka residents. Available incentives help small business owners and start-ups invest in their business to support growth and financial performance. Incentives are available for qualifying activities including marketing, construction, equipment, professional services, grant writing, and more. Only for-profit businesses located in Topeka/Shawnee County with at least one full-time employee (and no more than 100) are eligible to participate.
- Choose Topeka Talent Incentive – This program targets high-demand professionals with a financial incentive for moving to the Topeka/Shawnee County area. Up to $15,000 is available to eligible individuals to offset the cost of renting or purchasing a home. Eligibility requirements vary whether the individual maintains employment on-site or remotely. For those on-site, the employer must participate in the program, the individual must move to Topeka for a full-time position, purchase/rent a primary residence within one year of moving, and be eligible to work in the U.S.
- Small Business Training Incentive – This program is designed to help companies broaden and expand the skill set of various employees. The incentive is for independent small business owners, franchisees excluded and is limited to two employees per company. Funds can only be used for training, skills enhancement, and certification.
- Small Business Equipment Incentive – Funding can be used for the purchase of new or used equipment necessary for day-to-day operations. Before purchases are made, approval must be received, and all appropriate documentation submitted to ensure reimbursement is received.
- High-Performance Incentive Program – This state-based program provides a tax incentive to businesses that pay above-average wages and are committed to furthering employee skills. A 10% tax credit is available to eligible employers that make capital investments of at least $50,000 at a company’s facility. The credit has a 16-year carryforward, provided the facilities continue to requalify for the program.