JUNCTION CITY FIRST
Junction City Area Chamber of Commerce’s “Junction City First” is an aggressive, economic development business expansion and attraction plan. Junction City First has input and support from the private and public sectors within the City of Junction City and Geary County. The Chamber’s Junction City First initiative is designed to raise the necessary funds to develop and implement the Chamber’s increased economic development initiatives for the next five years.
In partnership with local governments, community organizations and businesses, the Junction City Area Chamber of Commerce will build a cooperative vision for achieving the five-year measurable goals outlined in its economic development initiatives. The key areas of implementation include:
• Business Recruitment and Marketing
• Business Retention and Expansion
• Workforce Development
• Enhance Economic Development Capacity
The economic development programs of the Junction City Area Chamber of Commerce in the preceding years have been funded and guided primarily by the public sector. Recent studies of highly effective economic development programs across America indicate that a joint partnership between the public and private sectors to be the best model for increased economic growth. The public sectors annual funding will continue and work with the private sector to leverage increased success.
The Junction City Area Chamber of Commerce commits to a program of work with dramatic impacts for the City of Junction City and Geary County over the next five years. In addition to increased national and regional awareness of the Junction City area, our key economic development goals for 2015 thru 2019 are:
Number of Primary Jobs to be Created: 750 over five year
Targeted Annual Salaries: $40,204*
New Capital Investment Generated: $150,00,000
Business Retention and Expansion Visits 200 per year
*The targeted annual salary of $40,204 represents a 10% increase over the latest annual average wages of $36,549 in Geary County as reported by the Kansas Labor Information Center for 2013.
NetWork Kansas provides small businesses and entrepreneurs with free, easy access to the resources they need to succeed.
Junction City Chamber of Commerce Economic Development is submitting an application for Geary County to join the Entrepreneurship Community Partnership of Kansas. As an E-Community, Geary County will partner with Network Kansas to establish a locally administered revolving loan fund to assist entrepreneurs with capital, to increase access to resources available to entrepreneurs and existing businesses, to initiate activities to generate entrepreneurial development, and to participate in a statewide partnership with other E-Communities.
Local E-Community revolving loans funds are funded by awarding tax credits to donors. Economic Development will apply for $125,000 in tax credits to create a local account of approximately $166,000. A leadership team and financial review committee from the EDC advisory committee will approve all loan requests and loan terms. For-profit businesses can use loan funds for startup, business expansion, purchasing an existing business, working capital and inventory. In addition to small business loans, the funding can be used for entrepreneurship training / education for businesses at different stages of growth, youth business plan competitions and other entrepreneur-related activities.
If Geary County is selected to join the E-Community network, tax credits are available by donation to the Kansas Center for Entrepreneurship in Andover. Donors receive a 75% state income tax credit for their donation. A minimum tax credit donation is $250, which translates to a $187.50 tax credit. There is a cap of $50,000 maximum donation. Individuals and corporations can donate to the Kansas Center for Entrepreneurship. The proceeds of all tax credit donations that are part of this application will be utilized locally for entrepreneurship activities.
At this time, only commitments to purchase tax credits are being requested. The Junction City Chamber must receive verbal commitment for at least 50% of the $125,000 in tax credits by August 1, 2015 as part of the application process. Actual donations will be collected after November 1, 2015.
Presently there are over 40 E-Communities in Kansas including Riley, Wabaunsee and Pottawatomie counties. According to Network Kansas, the goals of the E-Community partnership are to “grow a flourishing, sustainable entrepreneurial environment supportive of business startups and expansions; engage and/or develop entrepreneurial resources to meet identified community and business needs; create a revolving loan fund to provide matching loans to entrepreneurs and small businesses with local control of decisions and terms.”
Benefits of E-Community participation are local decision-making power, gap-financing assistance, match of up to 150% of the business contribution, up to $45,000 available per project and repaid funds return to the local account for reuse. For more information about the E-Community partnership, or how you can benefit from the purchase of tax credits please contact Junction City Area Chamber of Commerce Economic Development at (785) 762-1976.
E-community Application E-Community Brochure
Small Business Development Center
Started in October 1983, the Washburn University Small Business Development Center (SBDC) provides small business consulting services and training seminars to northeast Kansas entrepreneurs. Junction City partners SBDC to provide services in our area.
Kansas Department of Commerce
The lead agency for economic development in Kansas, our responsibilities are to foster economic development through the promotion of business, commerce, and industry. This is accomplished through the Department's six divisions, along with a network of business assistance providers throughout the state.
Kansas Economic Development Alliance
The KEDA is an organization of professionals and volunteers involved in economic growth and development. The organization was established in 1980 to address two items, continuing education and legislative advocacy.
Kansas Small Business Association offers information on small business loans, grants, bonds and other financial assistance. Find out which method of financing is right for you!
Advanced Manufacturing Institute
The Advanced Manufacturing Institute provides innovative engineering and business solutions. Comprised of experts in engineering, product design, manufacturing and business, AMI offers assistance with business planning and research, engineering and economic development to help entrepreneurs and businesses be more competitive in the marketplace.