STAR bonds

What incentives can Wichita offer?

What incentives can Wichita offer?

Wichita government leaders complain that Wichita can't compete in economic development with other cities and states because the budget for incentives is too small. But when making this argument, these officials don't include all incentives that are available. In making the case for an economic development fund paid for by a sales tax, the argument goes like this: "Wichita and Sedgwick County compete conservatively with incentives. The City of Wichita and Sedgwick County have a total of $1.65 million in new uncommitted funds for cash incentives this year with any unused money going back to the general fund." (Will Wichita…
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Wichita: We have incentives. Lots of incentives.

Wichita: We have incentives. Lots of incentives.

In this excerpt from WichitaLiberty.TV: Wichita government leaders complain that Wichita can’t compete in economic development with other cities and states because the budget for incentives is too small. But when making this argument, these officials don’t include all incentives that are available. View below, or click here to view on YouTube. More information on this topic is at Contrary to officials, Wichita has many incentive programs.
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Contrary to officials, Wichita has many incentive programs

Contrary to officials, Wichita has many incentive programs

Wichita government leaders complain that Wichita can't compete in economic development with other cities and states because the budget for incentives is too small. But when making this argument, these officials don't include all incentives that are available. The document Will Wichita Accelerate Competition for Primary Jobs? contains contradictory information about money available for economic development incentives in Wichita. The usual argument that officials make is represented by this quotation from the report: "Wichita and Sedgwick County compete conservatively with incentives. The City of Wichita and Sedgwick County have a total of $1.65 million in new uncommitted funds for cash…
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Carl Brewer: The state of Wichita, 2013

Much like President Barack Obama in his recent inaugural address, Wichita Mayor Carl Brewer displayed his collectivist instincts in his "State of the City" address for 2013. His speech, as prepared, may be read here. Opening, the mayor said "Wichita has overcome great challenges in the past and will overcome these as well, but we’ll need to work together." Near the close, the mayor said "THE TIME FOR ACTION IS NOW! We have reached a point where we MUST come together as a community, and create a plan that defines our priorities and the City we are to become." And…
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Wichita STAR bonds project not good for capitalism

Tomorrow the Wichita City Council considers approval of the project plan for a STAR bonds project in Wichita. The formation of the district has already been approved. This action by the council will consider the development plan and the actual authorization to spend money. If approved, the city will proceed under the State of Kansas STAR bonds program. The city will sell bonds and turn over the proceeds to the developer. As bond payments become due, sales tax revenue will make the payments. It's only the increment in sales tax that is eligible to be diverted to bond payments. This…
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Kansas STAR bonds vote tests beliefs in capitalism, economic freedom

An upcoming vote in the Kansas Legislature, possibly today, will let Kansans know who is truly in favor of economic freedom, limited government, and free market capitalism -- and who favors crony capitalism instead. The bill is Senate Substitute for HB2382: AN ACT concerning economic development; concerning the STAR bonds financing act; relating to the provisions regarding STAR bond projects; extending the sunset date. Under current law, the Kansas STAR bonds program will expire on July 1, 2012. This bill extends the program's life for five years. The STAR bonds program allows increases in sales tax revenue to be directed…
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Political cronyism has become the way

"A society whose businesses engage in cronyism instead of serving people will not be prosperous, and in America it is clear that cronyism is becoming a more common choice," writes Sam Patterson at EconomicFreedom.org. Cronyism is the practice of seeking business success through government rather than through markets. The difference is that business succeeds in the market by providing goods and services that people are willing to buy. Political cronyism, on the other hand, results in people being forced to buy from, or to otherwise involuntarily subsidize, certain business firms that have succeeded in the political arena. In Kansas, despite…
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Wichita to hold public hearing, again

On Tuesday the Wichita City Council will consider whether to set June 5th as the date to re-hold the public hearing on the K-96 Greenwich STAR Bond District Plan. The council held a public hearing on this matter in February, but there was a mistake in the ordinance accompanying the original public hearing. Therefore, the need for the second public hearing. I find myself torn, not wanting to root for the competent administration of bad policies. But Wichita seems to have administrative difficulties implementing the bad programs it has passed. A history of blunders, and worse This is not the…
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In Kansas, STAR bonds vote uplifted cronyism over capitalism

Recently both chambers of the Kansas Legislature passed similar bills authorizing a five year extension of the Kansas STAR bonds program. In the House the bill passed 92 to 31. In the Senate the vote was 27 to 13. The STAR bonds program provides a way to redirect sales taxes to project developers instead of the state treasury, which is where most people think taxes go -- or should go. Not so with STAR bonds. In the words of the Kansas Department of Commerce, the program offers "municipalities the opportunity to issue bonds to finance the development of major commercial,…
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Kansas STAR bonds vote a test for capitalism

Update: The bill passed in the House of Representatives 92 to 31. A similar bill passed in the Senate 27 to 13. An upcoming vote in the Kansas House of Representatives will let Kansans know who is truly in favor of economic freedom, limited government, and free market capitalism -- and who favors crony capitalism instead. The bill is HR 2561: Extension of the STAR bonds financing act sunset provision regarding STAR bond projects. Under current law, the Kansas STAR bonds program will expire on July 1, 2012. This bill extends the program's life for five years. The STAR bonds…
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