Rural Opportunity Zone (ROZ):
Russell County Commissioners opted in to this program on June 6, 2011. This program will take effect July 1, 2011. It has two main incentives:
1. A state income tax credit for up to five years to individuals who move to a ROZs county from outside the state. Individuals must not have lived in Kansas for the past five years, nor have Kansas source income of more than $10,000 per year over the past five years.
2. Student loan forgiveness of up to $3,000 per year ($15,000 maximum benefit) for individuals who graduate from an accredited post-secondary institution and move to a ROZs county.
Official application forms will be available July 1, 2011.
MICRO LOAN PROGRAM:
The micro loan is a low interest loan program to assist small businesses with five or fewer employees.
It is also available for business expansion. Call or stop by the office for more information.
Other business assistance is available upon request, accompanied by a full business plan and statement of needs.
The requests are reviewed by the board with consideration given to the number of jobs created,
the return to the community in the way of property tax and/or sales tax, and capital investment.
The Economic Development office is part of an Enterprise Facilitation Zone to enhance entrepreneural possibilities.
BUSINESS AND INDUSTRIAL SITES:
Russell Industrial Park is full service. It is zoned for Heavy Industrial. It is maintained by the City of Russell.
BUSINESS AND INDUSTRY (RURAL DEVELOPMENT) LOAN PROGRAM:
If your business is located in a rural area or city with less than 50,000 population and plan to add jobs
with your business start-up or expansion, the B & I Loan Program may apply to your needs.
COMMUNITY DEVELOPMENT BLOCK GRANTS (CDBG GRANTS & LOANS):
If you plan extensive development of a business including land, building, machines and other equipment and create jobs in the process, you may qualify for a Community Development Block Grant (CDBG) loan funds.
Free Lot Development, Housing Incentives, USDA Rural Development Guaranteed Loan Program
Free Commercial Land & Home Sights, & Tax Incentives