KANSAS CITY, Mo. (AP) – There may be a cease-fire, but the economic “border war” involving the use of incentives to lure jobs across the state line in the Kansas City area isn’t exactly over.
The Kansas City Star reports that Missouri officials plan to award $62 million in incentives to the Overland Park, Kansas-based financial firm Waddell & Reed. The incentives are through the Missouri Works program, which offers payroll tax withholdings or tax credits in exchange for growing or retaining jobs.
The company says it will invest about $90 million in its new Missouri headquarters and employ more than 1,000 workers. Average pay is $157,138.
The announcement comes a month after Kansas and Missouri governors celebrated an end to the use of tax incentives to lure companies across the state line.