Economic Development

The city of Spring Hill has a diverse economy with employment represented in each major sector and a growing labor force to support its economic development efforts.

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Spring Hill has more than doubled in size since 2000, blossoming into a highly sought-after community in a rapidly growing region. The City’s prime location, great schools, affordable housing, ample recreational opportunities, and strong community spirit have contributed to Spring Hill’s success, as have a City government committed to prosperity.

Our experienced development team is dedicated to providing the development community with optimal customer service and access to incentive opportunities to facilitate any projects and see them to fruition.

The City of Spring Hill provides several public incentives for private investment in commercial, industrial, and residential development. The city continues to consider redevelopment needs and look at exploring the use of economic development incentive tools.
  1. TIF
  2. TDD
  3. CID
  4. STAR Bonds

Tax Increment Financing (TIF)

Tax Increment Financing is a tool which pledges future gains in taxes to finance the current improvements which will result in those gains. TIF is designed to channel funding toward improvements in areas where development/redevelopment may not otherwise occur.

When an area is developed or redeveloped, there is an increase in the value of the property. The increased site value and investment creates more taxable property, which increases tax revenues. The increased tax revenues are the "tax increment." TIFs pledge the future increased revenue for repayment of eligible costs associated with the improvements.

In Kansas, a TIF Project must be located within a "redevelopment district," which may be established by a city in:
  1. Blighted Areas
  2. Conservation Areas
  3. Enterprise Zones
  4. Major Tourism Areas
  5. Major Commercial Entertainment and Tourism Areas
  6. Bioscience Development Areas.
TIF do not result in increased property tax rates or increased sales tax rates. Projects may be funded by the use of special obligation bonds or on a pay-as-you-go basis.