Business Programs and Incentives

SCED administers several local grant and loan programs for businesses and property owners and coordinate incentives that support our goals and purpose as a department. 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.

 

Business Loans

The Business Expansion and Development 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. These loans require that the business is not able to get the full capital needed from banks or other investors. The loans are traditionally repaid through monthly payments with an interest rate of 0% for the first two years and 5% for the remaining years of the loan. 

Click here for more information about our business expansion and development loan.

Click here for Financing Your Business 101 from the Kansas SBDC Capital Access Center.

 

Business Grants 

SCED currently offers several grant programs for businesses and commercial property owners. Click here for more information.

 

Neighborhood Revitalization Plan

Smith County recently renewed the Neighborhood Revitalization Plan that offers property tax rebates on real property improvements with construction beginning on or after December 5, 2022. 

 

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 of those counties. 

  • Kansas Income Tax waivers for up to 5 years, if relocating from another state
  • Student Loan Repayments for up to $15,000 over 5 years, if you have a newly established permanent address in a participating county

For more information, click here. 

 

Regional and State Resources

There are several organizations that provide regional, state, and federal programs and resources to our community and surrounding area.  For more information, please see these links: