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Tax & Incentive Profile
International Trade Incentives
In addition to the state programs outlined below, the Greater Kansas City Chamber of Commerce sponsors a World Trade Center that is engaged in promoting greater Kansas City's international business growth through a variety of programs and projects. And another organization, Kansas City SmartPort, Inc., is a non-profit corporation whose objective is to help facilitate transportation and logistics business within the Kansas City area by developing and marketing an international trade processing center or inland port.
INFORMATION ON BOTH KANSAS AND MISSOURI IS PRESENTED BELOW.
The Kansas Department of Commerce works with new and existing businesses wishing to expand their service reach to the international marketplace. The department also takes an active role in bringing international business to the state. The state currently has representatives in Brazil, China, Europe, India, Japan, Korea, Mexico and Taiwan involved in both trade promotion and recruitment of investment. Services to Kansas businesses include the following:
The Kansas International Trade Show Assistance Program (KITSAP) helps introduce Kansas companies to foreign markets through participation in international trade shows. Eligible companies are those whose products or services originate in Kansas or whose products receive substantial value-added processing in Kansas.
A company must first apply to KITSAP, be approved and then sign and return the KITSAP contract before attending a funded trade show. After the company attends the trade show, the program will reimburse one-half of a company’s eligible direct expenses - up to $3,500 per show. A company may not exceed $7,000 in total combined financial assistance during a state fiscal year (July 1 - June 30).
KITSAP will only consider trade shows where the applicant is exhibiting for the first time or has a new technology/product that is being introduced into that market for the first time.
The International Trade and Investment Group in the Business and Community Division of the Missouri Department of Economic Development works to increase the number of Missouri companies exporting; increase the dollar volume of Missouri exports; and to increase the level of foreign investments to the State of Missouri. Building relationships with organizations across the globe creates resource linkages that enhance the competitive position of Missouri firms. There are State of Missouri offices in China, Europe, Japan, Mexico and Taiwan.
The International Trade and Investment Group assists companies with trade information, trade counseling, trade missions, trade shows, business protocol, global market research, agent/distribution searches, competitive analysis, export finance assistance, and certificates of Free Sale.
The state of Missouri Export Finance Program is a cooperative effort between the Missouri Department of Economic Development and the Missouri Development Finance Board. The State of Missouri Export Finance Program focuses on the export finance programs of several federal and international agencies. Missouri companies exporting can use the export finance programs of the Export – Import Bank of the United States (Ex-Im Bank) and the international programs of the Small Business Administration (SBA). There are primarily two programs available to small and medium-sized companies: the Export Working Capital Program and the Export Credit Insurance Program. These programs are designed to help small and medium-sized businesses that have exporting potential obtain export working capital and also mitigate risks in international transactions.
Missouri companies export to countries around the world and often export dependent jobs pay higher wages. Global markets greatly impact export dependent industries in the State of Missouri. If you would like to learn more about the International Trade and Investment Group, please visit their website at www.missouridevelopment.org.
DEFINING THE GREATER KC METRO AREA
Kansas City is a Missouri/Kansas bi-state metropolitan area. All statistical references made to Kansas City Metropolitan Statistical Area (MSA) include the counties of Cass, Clay, Clinton, Jackson, Lafayette, Platte and Ray in Missouri, and Johnson, Leavenworth, Miami and Wyandotte counties in Kansas. The greater Kansas City area also includes the adjoining Lawrence, KS, St. Joseph, MO, and Topeka, KS MSAs, as well as the Atchison, KS, Chillicothe, MO, Ottawa, KS, and Warrensburg, MO areas.