Kansas Economic Growth Act

The visionary Kansas Economic Growth Act of 2004 (KEGA) was designed to meet the needs of a changing Kansas economy. With this legislation, the state endorsed bold strategies and provided significant resources to stimulate the creation of new bioscience jobs, expand bioscience research and industry, and attract new bioscience investments.

The KEGA led to the creation of the Kansas Bioscience Authority, a statewide bioscience initiative that guides the state’s investment in the biosciences. The act provided an innovative funding mechanism for the KBA based on the growth of state income-tax withholdings from employees of bioscience-related companies. State taxes that exceed the base-year measurement accrue to the authority for investment in additional bioscience growth. Funding is estimated to reach more than $580 million over 15 years.

Through the following programs, the KBA selectively partners with bioscience companies, research institutions, inventors, entrepreneurs and investment professionals to substantially advance Kansas’ vibrant bioscience industry:

  • The Kansas Bioscience Eminent Scholars Program is designed to recruit distinguished bioscience researchers to conduct their research and commercialization activities at Kansas research institutions.
  • The Kansas Bioscience Rising Stars Program helps retain and advance Kansas best and brightest bioscience scholars.
  • The Kansas Bioscience Federal Matching Fund builds research excellence at Kansas’ universities and research institutions in ways that benefit our bioscience economy.
  • Heartland BioVentures is a business assistance program under development by the KBA. It is designed to facilitate risk capital investment in Kansas bioscience companies.
  • The Kansas R&D Voucher Program provides funding to Kansas bioscience companies, in partnership with a Kansas research university, company, or institution, for proof-of-concept research and development activities and ancillary activities necessary to commercialize bioscience technologies.
  • The Kansas Bioscience Attraction and Retention Program helps create, retain, and expand bioscience job opportunities for Kansans. The KBA will partner with the Kansas Department of Commerce and regional economic development organizations to facilitate the retention and attraction of bioscience companies with strong growth potential.
  • The Bioscience Tax Investment Incentive Program allows direct payments to a bioscience company in the amount of 50 percent of its Kansas net operating loss, up to $1 million annually.

Click here to read the full text of the Kansas Economic Growth Act.

“We are very excited about the collaboration that has taken place with the Kansas Bioscience Authority and are looking forward to bringing new job opportunities to the local community with this important investment in our business.”

- Tom Wilson, Vice President, Thermo Fisher   Scientific, Microbiology North America