Community Improvement Districts (CID)
CIDs are used as a tool to encourage private investment and support infrastructure upgrades in commercial areas to contribute to revitalization of these parts of the City. Under Council Policy F-9, property owners within a proposed CID can request a special sales tax (up to 2 percent) or special assessments, which fund improvements like road construction, utility upgrades, and building renovations. Property owners submit a petition to create a CID, which is then reviewed and approved by the City Council through an ordinance. Olathe currently has the following seven active CIDs: Santa Fe Square, Hilton Garden Inn, Furniture Mall of Kansas, Embassy Suites, Olathe Station, Ridgeview Marketplace, and West Market.
Industrial Revenue Bonds (IRB)
IRBs are an economic development tool used to attract and support businesses by financing up to 100 percent of a company's land, building, and equipment costs. IRBs are purchased by private investors, and the proceeds are used by qualifying businesses to fund new construction, expansion, or renovation projects. Businesses may also receive up to a 100 percent exemption on new real property taxes for up to 10 years, as well as a sales tax exemption on building materials purchased in Kansas. In 2024, there were 43 active IRBs in Olathe.
Kansas Industrial Training (KIT) Program
The Kansas Department of Commerce provides the KIT program with the primary aim of aiding businesses that are actively engaged in generating new employment opportunities. The program helps businesses create new jobs by funding both general and specialized training, including hands-on instruction using company-specific equipment. To qualify, a company must add at least one new position with an average wage at or above the U.S. median.
Kansas Industrial Retaining (KIR) Program
The Kansas Department of Commerce supports employee retention through the KIR program, which serves as a valuable resource for businesses facing the potential displacement of workers due to outdated or insufficient job skills or knowledge. The program helps businesses retain employees by funding upskilling efforts by covering costs such as instructor pay, curriculum development, training materials, equipment, and travel. This support helps employers close skills gaps and strengthen workforce resilience.
Kansas International Trade Marketing Assistance Program (KITMAP)
The KITMAP plays a pivotal role in aiding local Kansas enterprises to expedite their expansion into international markets. Through this program, companies can benefit from a substantial 50 percent reimbursement on their direct expenses, with a maximum cap of $5,000 allocated per eligible business activity during each fiscal year. To qualify for this initiative, businesses must demonstrate that their products and/or services either originate from Kansas or undergo substantial value-added processing within the state.
Minority and Women Business Development
The Office of Minority and Women Business Development is committed to advancing business opportunities with a special emphasis on fostering growth within disadvantaged, minority-owned, and women-owned enterprises. The office certifies businesses in key categories and acts as a vital resource hub, offering guidance and referrals in areas like procurement, contracting, financial aid, and management. It also empowers entrepreneurs through partnering with business leaders to host educational workshops and seminars, ensuring that these businesses have access to the knowledge and resources necessary to thrive in a competitive market.
New Markets Tax Credit (NMTC) Program
Under the jurisdiction of the Department of the Treasury, the NMTC program is designed to increase the stream of capital into businesses and underprivileged areas by offering a modest tax incentive to private investors, businesses, and communities nationwide. Notably, the Central Bank of Kansas City, in collaboration with its affiliated subsidiary known as Community Development Entities (CDEs), oversees the administration of NMTCs for communities located in the state of Kansas. This program plays a crucial role in stimulating economic development and access to capital for underserved regions within the state.
Olathe Economic Development Council (OEDC)
The OEDC serves as a valuable asset to the City of Olathe, with the dual purpose of attracting new businesses and industries to the area and guiding them through the intricacies of the development process. Moreover, the OEDC plays a pivotal role in retaining businesses that have already made Olathe their home, actively supporting their expansion and enabling them to optimize their operations within the City.
Opportunity Zones
The Federal Tax Cuts and Jobs Act of 2017 designated three Opportunity Zones within Olathe, all within the southern portion of the Original Town subarea, roughly from Spruce Street to Old 56 Highway. These areas offer investors preferential tax treatment for capital gains invested in low-income community areas such as those exist in this part of the subarea. This program can be used to attract investment for both commercial and residential developments within Original Town.