Good News from the State of Kansas!

FOR IMMEDIATE RELEASE
April 27, 2007

FOR MORE INFORMATION
Contact: Senator Derek Schmidt
(785) 296-2497

LEGISLATURE OKs ENTERPRISE FACILITATION FUNDING


TOPEKA -- (April 27, 2007) -- The legislature today gave final approval to legislation that will provide a reliable source of funding for a successful rural development program, sending the measure to the governor. She is expected to sign it into law.

“For our state’s least-developed counties, enterprise facilitation has proven to be a successful program in starting and nurturing new businesses,” said Senator Derek Schmidt, R-Independence, who sponsored the measure. “This will give some certainty to the enterprise facilitation projects so they can focus on doing their work instead of worrying whether they will be funded year-to-year.”

The new provision of law is included in legislation that extends the rural development tax credit program. The provision requires that 5 percent of the funds raised by sale of rural development tax credits statewide be distributed among the enterprise facilitation projects. If all tax credits are sold, that would generate $30,000 per year to help sustain each project, which is about half the total annual cost of running an enterprise facilitation program.

In Southeast Kansas, the Quad County Enterprise Facilitation project has helped nurture business start-ups and economic development in Chautauqua, Elk, Greenwood and Woodson counties. Wilson and eastern Cowley counties also have participated in the project. The Quad County project has nurtured about 100 business startups since its inception.