Business Programs and Incentives
Program Purpose and Goals
The purpose of the Economic Development Department is to further economic development of Smith Center, Kansas, by:
- Promoting the City’s assets and other resources which will enhance economic growth;
- Assisting and encouraging existing industries to ensure their continued operation and growth;
- Identifying, meeting and negotiating with potential new industries and other potential new business enterprises;
- Promoting specific industrial sites, buildings and locations (and building as location) suitable for new business and industry;
- Developing and implementing a citywide economic development plan;
- Promoting the maintenance, beautification and restoration of commercial buildings.
The goals are to increase employment, payroll, business volume and expand the local tax base.
To accomplish this purpose we administer several local programs, facilitate county incentives, and connect business people to regional, state, and federal programs.
Smith Center's Business Development and Expansion Revolving Loan Fund allows the department to offer business loans to expand an existing business, to start a new business, to purchase an existing business, or to relocate a business to Smith Center. This loan does not require the creation of new jobs but does require the investment be paid back through monthly payments. The interest rate is 0% for the first two years and 5% for the remaining years of the loan. Click here for more information.
Smith Center's Economic Development department currently offers several business grant programs. Click here for more information.
All Smith Center Economic Development Programs are subject to the availability of funds. SCED reserves the rights to alter or discontinue any program at any time without written notice.
Rural Opportunity Zone Incentive
Smith County is one of 77 rural Kansas Counties authorized to offer one or both of the following incentives to new, full-time, Kansas residents.
Kansas Income Tax waivers for up to 5 years, if relocating from another state
Student Loan Repayments for up to $15,000
For detailed information, click here.
Regional and State Resources
Several partnerships and memberships are maintained with a number of organizations to connect regional and state resources to our community and surrounding area. Some of those organizations include:
- Kansas Small Business Development Center at FHSU
- Kansas Small Business Development Center Capital Access Center
- Wichita SCORE
- Western Kansas Rural Economic Development Alliance
- Youth Entrepreneurship Challenge
- Northwest Kansas Economic Innovation Center
- Dane G. Hansen Foundation
- Smith County Community Foundation