Small businesses in Kansas owners said that if they had the same tax breaks as big businesses, they would hire more peKansas ople and put more money into growing their businesses. Under the Attracting Powerful Economic Expansion Act, among other things, the government may pay more than $1 billion in tax rebates and salary reimbursements (APEX). Republicans run Kansas, but Democratic Gov. Laura Kelly has asked the Republican-led state legislature to pass a law that would apply to companies that spend at least $1 billion in the state. This was done to convince an unnamed company to think about moving there.
Steve Roatch, the founder and CEO of 27Global in Kansas, told Fox News that he was “skeptical” about his and other people’s tax money going to a single company, even more so when the price is in the billions of dollars. Roach said, “I might be skeptical if the legislature or the Commerce Department is trying to rush something through without full transparency.”
Before they could find out anything about the mysterious company, lawmakers had to sign contracts saying they wouldn’t say anything about it, not even its name. Proponents of APEX also said that the plan unfairly helped big businesses and that this subsidy scheme is rarely good for an economy.
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Lauren Fitzgerald, a representative for Kelly, told Fox News that the APEX program “also has long-term effects for small businesses by increasing revenue, whether more people eat or shop locally.” “Kansas has won a huge victory!”
Kelly’s office said that a company that would not be named would put $4 billion into the Kansas economy and create 4,000 jobs. The owner of the Ravenwood Lodge in Topeka, Ken Corbet, told Fox News that he is worried about what is going on in Ferguson. “I’ve read about all of the nice things said about that company. I don’t know what you could have wanted more of.”
If I Could, I’d Give It Back To The Company.
Small business owners told Fox News that they would put more money into their businesses if they could use APEX’s resources. The APEX law gives workers money to help pay for their education and tax and salary rebates. Corbet, a Republican who was against the initiative, said that the owners of small businesses were like farmers. “If we ever get a chance to make money, most of us put it right back into the company to help it grow and buy new tools,” says one worker. “If any of that package was available to small businesses,” he said, “the number of small businesses in the state would go through the roof.”
David Toland, the state’s secretary of commerce and lieutenant governor, thinks it will be good for the economy in the long run. After the APEX measure was signed into law, he said, “We have a real chance of getting big economic development projects that will bring big corporate investment and jobs to our state.” We are now excited about the chances we have to change our state and help Kansas in the long run. Roach told Fox News that he plans to use the extra money from tax breaks to hire more people, start internship programs, and invest in technology.
Rob Arnold, who started We Got Your Back Apparel & Local Goods, said, “I would put it right back into the business.” I have always put money into myself, my business, and my employees.
Arnold told Fox News that his company helps the community by selling the goods of other local artists. Mike Tracy, the owner of Omni Human Resource Management, said that he would hire more people to serve local markets better if he could get government grants like APEX. He told Fox News that as a business owner, his main goal is “the health and well-being of other small businesses, including charities, that my company serves.”
The Act of Picking Winners And Losers Over And Over.
Small business owners thought APEX was giving more work to a company they didn’t know about than a local company. Roach says that tax cuts are “for the other man” in small businesses. No matter how hard we try, they never seem to come here.
Roach said that the government should “offer opportunities on a level playing field” so that all businesses in the state can do well, not just one big one. State Senator Jeff Pittman says that there are a lot of subsidies in Kansas (D-Kansas).
He said that there must be some winners and some losers. Pittman made his point with the help of farm subsidies and planned to sell municipal bonds. The Kansas Department of Commerce has several programs to help businesses. These include programs for businesses owned by minorities and women, rural economic development zones, and industrial training programs.
Tracy told Fox News that there was “no chance” that the state would give his company the same incentives that APEX got. The Kansas Policy Institute says that Kansas has the highest effective tax rates for businesses that have been around for a long time.
Arnold added, “We haven’t had many breaks, and that bothers me.” “I don’t want it to go to somebody who doesn’t need it.” When Fox News asked Republican state Sen. Caryn Tyson about the APEX bill, she said, “I don’t back it.” “Do any of you take care of yourselves? We are putting our current plans at risk.”
The Kansas Department of Labor says that at 2.5%, the state’s unemployment rate is the lowest it has ever been. Because of this, companies are already competing for a small pool of talent. The US Department of Labor says that Kansas had 92,000 open jobs in February 2022, up from 74,000 the year before. Corbet said that the main problem was that “we couldn’t find anyone to work.” To stay in business, we have to spend money to automate as many tasks as possible.
Money Was Sent In Large Amounts From Kansas To Japan.
Roach says that the APEX subsidies make it possible for a global company to make more money at the expense of Kansas taxpayers. He said that for Kansas, it was “not terrible.” “Oklahoma officials told me straight up that [APEX] was for Panasonic and would be used to make car batteries,” said Republican state Sen. Mark Steffen, who voted against the bill. The Japan Times says that Panasonic plans to build a battery plant in either Oklahoma or Kansas to supply lithium-ion batteries to the plant that Tesla plans to build in Texas. When asked for a comment, the Japanese company didn’t say anything.
Roach said, “This lets stockholders from all over the world make more money, and it also lets C-level executives get bigger bonuses.” There has been a lot of money moved from Kansas to Japan.
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