City of Springfield’s Kearney St. redevelopment plan can give new businesses a tax break
SPRINGFIELD, Mo. (KY3) - The new Whataburger coming to northeast Springfield is getting a big tax break. Some businesses in the area already get the tax break. And more businesses could see the tax relief too.
The area includes a little past North Kansas Expressway, down Kearney Street, hitting right past Glenstone Ave. Six businesses or retail centers have received the tax break.
Springfield Director of Economic Vitality Amanda Ohlensehlen said the tax break is helping new businesses get off the ground.
“Springfield’s revenues continue to be really strong, we have a growing population, and we’re a vibrant city,” said Ohlensehlen.
Ohlensehlen said the new Whataburger, going on the corner of Kearney St. and Glenstone Ave., is the latest business to take advantage of a special city property tax break.
“(It is) 100% tax abatement for up to 10 years for qualifying redevelopment projects or new construction,” said Ohlensehlen
Other businesses under this include Big Shots, the Doubletree Hotel Conference Center addition, different retail centers, and others.
Ohlensehlen said the Kearney Street redevelopment plan started in 2018 and covered more than three miles of Kearney St.
“As Springfield grows, it really is a way to focus reinvestment along some corridors in the city that may have declined over the years,” said Ohlensehlen.
Her pitch for interested businesses is a way to invest in a growing community.
“Incentivize or reinforce their investment in the community,” said Ohlensehlen. “Help businesses as they open and grow and expand to reach the revenues that they need.
Ohlensehlen said they want to bring quality businesses and services for years to come.
“Want to provide those assets and amenities that our community members are looking for and support Springfield as a destination,” said Ohlensehlen.
City leaders said that having new businesses coming to this area helps open new taxes for the city, which means better services for all of us, such as transportation, emergency services, and more.
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