Here in Downtown Kansas City, we are acutely aware of the gravity of the situation we find ourselves in because of COVID-19. Yet even in the face of uncertainty, we remain steadfastly hopeful – hopeful because of our unrelenting dedication to human health and building an environment that offers density, walkability, and quick access to essential resources all within a modern mixed-use business district.
Today, more than ever, place matters to the future of our businesses and livelihood. So we invite you to locate your business in a place attracting millennials seeking a vibrant urban lifestyle, a place where companies can recruit from an educated, highly-skilled workforce, and a place that prioritizes the health and well-being of our community. This is Downtown Kansas City. A place to begin, a place to grow. Below are just a few reasons why businesses are relocating to Downtown Kansas City.
Why is Downtown Kansas City such an attractive location for businesses?
Over the past 20 years, Downtown has been transformed from a 9-to-5 office district into a dynamic, mixed-use setting for business, innovation, education, cultural and civic activity, as well as one of the fastest-growing residential locations in the region. Fifty percent of Downtown residents have a bachelor’s degree (BA) or higher. Downtown Kansas City has a highly educated and skilled working population for management consulting, financial, legal, real estate, engineering, medical, creative, and technology firms
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Coworking has become a stronger force in Downtown’s real estate, with more than 254,000 square feet of the office market controlled by coworking tenants. The product offering has helped accelerate the growth of Downtown Kansas City, providing quick, easy, and quality options for companies, big and small, to test the market.
At the center of Kansas City’s economy is Downtown, where 34% of the City’s jobs are located with a strong concentration of the highest paying industry sectors. Throughout Downtown Kansas City, 36% of all jobs are in the Finance, Insurance, Health Care, and Professional, Scientific, and Tech Services; making diversification a defining strength of Downtown’s economy. Federal, state, and local government employment hold a 17% share of Downtown jobs. Together, these sectors comprise the prime occupants in Downtown’s 26.5 million square feet of office space.
Downtown Kansas City has been the region’s commercial center and home to traditional industries like banking and law since its beginning. Now, Downtown is also becoming Kansas City’s center for creativity, innovation, and health care. This mix of companies, from entrepreneurial startups to corporate headquarters, and range of industries, from design+build, marketing, and technology, is making Downtown Kansas City a dynamic hub of creativity and a fertile ground for launching new ventures and growing existing businesses. A sample of Downtown Kansas City’s office tenants are displayed on the map below.
Below is a list of industry sectors with a strong, concentrated presence in Downtown. To the right is a map displaying some of the businesses within those sectors.
Downtown Kansas City is uniquely positioned for outstanding access to the area’s talent pool of diverse, dynamic, and highly-skilled workers. With 27 colleges & universities within an hour of Downtown Kansas City, businesses can recruit young, educated graduates as well as offer a wide array of continuing education opportunities for their employees.
Fifty percent of Downtown residents have a Bachelor’s Degree or Higher, outpacing the Kansas City metropolitan region’s rate of 36%. Downtown has a highly educated and skilled working population for management, consulting, financial, legal, architectural, engineering, medical, creative, technology firms.
The region’s 27 institutions of higher education collectively enroll more than 139,000 undergraduate and graduate students including 3,311 at UMKC’s Health Sciences District located in Downtown Kansas City. Fifty percent of Downtown residents have a Bachelor’s Degree or Higher, outpacing the Kansas City metropolitan region’s rate of 36%. Below is a list of four-year colleges and universities located within an hour of Downtown Kansas City.
Downtown Kansas City has a wealth of office properties ranging from reimagined highrises and restored historical structures to repurposed manufacturing and warehouse buildings. With millions of square feet of space available, Downtown Kansas City offers an abundance of choice with the convenience of connected urban living.
Downtown Kansas City has become a thriving, mixed-use business district. Vibrant urban living and a broad range of housing types in historic neighborhoods are attracting residents and workers who want to enjoy Downtown’s expansive array of cultural, entertainment, dining, and recreation options. Construction cranes are transforming Downtown. More than $9 billion in major developments have been completed or are currently under construction in Downtown Kansas City.
More than $9 billion dollars of investment have transformed Downtown Kansas City.
Check out all the exciting districts, neighborhoods, and attractions in Downtown Kansas City!
Downtown Kansas City has become a thriving, modern, mixed-use district. Vibrant urban living and a broad range of housing types in historic neighborhoods are attracting residents and workers who want to enjoy Downtown’s expansive array of cultural, entertainment, dining, and recreation options. Downtown Kansas City has many public parks that add greenery and enliven neighborhoods, offering a welcome reprieve from the bustling streets. Downtown’s world-class attractions have turned Kansas City into a major tourist destination and created a dynamic environment for residents of all ages to live, work and play.
Downtown Kansas City is a collection of vibrant districts with great housing options in charming, historic neighborhoods, each with its own unique character and atmosphere. Downtown neighborhoods offer easy access to jobs, cultural venues, great shopping, and day-to-day amenities by foot, bike, public transit, or car. Each neighborhood offers diverse choices for residents of all ages and at all stages of life.
The Downtown Council also offers a range of services and materials to help commercial real estate brokers, companies and other stakeholders understand Downtown Kansas City’s revitalization and premier work environment. Please contact us to see how we can help you or for any additional questions.
These cut sheets are full of facts and data that provide brokers, site selectors, and businesses with a quick overview of Downtown Kansas City’s thriving business environment.
Whether it’s a Downtown tour, help finding the right location for your business, a space to debrief with clients, or conducting employee/welcome orientations, the Downtown Council is here to help. Please contact us to see how we can help you or for any additional questions.
The Business Attraction presentation deck provides a brief State of Downtown report, summary of Downtown’s renaissance, as well as a snapshot all the amenities available to employees within a short walk or streetcar ride from their office. The presentation also addresses parking, safety, and projects in the development pipeline.
Our Research & Reports page provides a number of reports, plans, as well as our State of Downtown Dashboard to help you better understand the Downtwon environment and ongoing renaissance.
Our Downtown Parking Maps display all the parking garages and the number of available parking spots in the River Market, Central Business District, and Crossroads Arts District. The maps also display attractions, hotels, and parks as well as the KC Streetcar route and stops within each district.
Our Downtown Retail Directory provides a comprehensive list of all restaurants, bars, coffee shops, hotels, apartments, retail shops and services located in Downtown Kansas City.
The Downtown Dining Map provides a comprehensive list all the restaurants, bars, coffee shops, and attractions by Downtown district/neighborhood. The map is updated annually by the Downtown Council, Visit KC, and the KC Streetcar.
Employees can stay updated on all the fun events and activities happening every day of the week in Kansas City’s vibrant Downtown.
The BUILD program is an incentive designed to reduce necessary infrastructure and equipment expenses if a project can demonstrate a need for funding. An eligible business must invest a minimum of $10 million appropriated to the necessary industry sectors and create a minimum of 500 jobs.
Chapter 100 bonds may be issued by the City to assist with the construction or rehabilitation of eligible commercial facilities. To affect property tax exemption, the City will take titular ownership of the business assets, therefore, providing property and/or sales tax exemption for up to 10 years.
The Chapter 353 Program was created to assist in the removal of blight by providing local property tax abatement to projects located within an Urban Renewal Area (URA). Assistance may be provided in the form of real property tax abatement on improvements up to 75% for a 10-year period and 37.5% for a 15-year period.
Designed to encourage job creation, the Enhanced Enterprise Zone (EEZ) provides state tax credits and local property tax abatement to new or expanding businesses located within an EEZ. Eligible businesses may receive a standard 50% property tax abatement for improvement made to real property.
The Land Clearance for Redevelopment Authority (LCRA) has served as the City’s urban renewal agency since 1951. Authorized by Missouri state statutes, the LCRA encourages redevelopment through the removal of blight and blighting conditions within designated Urban Renewal Areas.
The Opportunity Zones program encourages long-term investment and job creation in low-income areas of the state, by allowing investors to re-invest unrealized capital gains in designated census tracts.
The State of Missouri provides state tax credits equal to 25% of eligible expenses for the rehabilitation of approved commercial and residential historic structures. This program has been critical to the revitalization of Downtown through the redevelopment of housing, offices, and hotels.
The purpose of the Missouri Works program is to facilitate the creation of quality jobs by targeted business projects. Program benefits include the retention of the state withholding tax of the new jobs and/or state tax credits, which are refundable, transferable and/or saleable.
Federal New Market Tax Credits (NMTC) may be available to eligible businesses providing non-traditional financing for capital investments made by businesses and for development in distressed areas.
The Planned Industrial Expansion Authority (PIEA) provides incentives encouraging the investment and removal of blight and blighting conditions within PIEA Plan areas. This incentive has played a critical and important role in the revitalization of Downtown Kansas City.
Tax Increment Financing (TIF) is a financing tool that allows future real property taxes and other taxes generated by new development to pay for the cost of construction for public infrastructure and other improvements. This is designed to encourage the development of blighted areas.
The Downtown Council (DTC) is a private, nonprofit membership organization representing Kansas City’s best businesses, property owners, nonprofit organizations, and anyone who is invested in Downtown’s success.
