| Overview | Industrial Sites | Retail & Office Space | Demographics | Transportation Business Community - Retail and Office SpaceThe area surrounding the Interstate 70/State Highway 291 intersection is the retail power center in eastern Jackson County. Development prospects and a carefully prepared master plan for the corridor ensure the area will sustain recent growth and mature into a high-quality, high-traffic retail center.
The city has six community and regional retail centers with 300,000 square feet or more. The largest regional mall, Independence Center with 1.04 million square feet, has several department store anchors including Dillard's, Sears and Macy's. Also located within the mall are a variety of specialty stores such as Old Navy, Abercrombie and Fitch, and Coldwater Creek. Other community centers include Independence Commons, Crossroads, Trinity Woods, and Bolger Square. Eastland Business Park and Hartman Heritage are mixed-use business parks that include class-A office buildings, Hilton Garden Inn, Hartman Conference Center, restaurants, and national retailers such as Lowe's and Costco. The extension of the Little Blue Parkway interchange located on I-70 and the development of the 32-square-mile Little Blue Valley will create an attractive environment for thousands of future employers and residents.
Demographics
TransportationIndependence has fast, easy and economical access to the rest of the nation. Its central location and prime spot in the Kansas City metropolitan area allows Independence's businesses and industries to take advantage of excellent highway, rail, air and water transportation. The Kansas City metropolitan area has more interstate highways per capita than any other city in the nation. The area is served by three interstates – I-29, I-35 and I-70, with I-70 running through Independence. A second interstate, I-435, is one of the area's perimeter linkages and flows just west of Independence. Independence's highway network also includes U.S. highways 24 and 40, and Missouri state highways 291, 78 and 7. Independence is served by Union Pacific Railroad, with passenger service provided by Amtrak. The city's location makes railroads a fast freight service – normally within two to three days to most U.S. points, while rail service is available to most of the city's industrial sites. Kansas City International Airport (KCI), an efficient air hub, is located within 30 minutes of Independence via interstate highways. Eight all-cargo carriers and 12 passenger/combination carriers serve KCI. Non-stop service is available to 49 nonstop markets and more than 100 direct markets. These carriers offer over 216 flights each day. The large number of low-cost, low-fare airlines and the presence of most of the full-service majors keeps competition up and air fares down. The Kansas City Area Transportation Authority provides bus service from Independence to downtown Kansas City and Crown Center. There are ten shuttle bus routes throughout Independence. The city also has local taxicab service. Development IncentivesUsing federal, state and local incentives, Independence offers excellent economic development packages to qualifying businesses. With the goal of providing long-term benefits for the community and business, incentive programs have assisted in the creation of new businesses and the expansion of established Independence companies. Incentives can be tailored for qualifying businesses, and information is available from the Independence Council for Economic Development. Local IncentivesTax Increment Financing authorizes cities and counties to prepare a redevelopment plan and use all or part of the new taxes generated to fund infrastructure improvement in eligible areas. Tax IncentivesBelow are brief summaries of the competitive Tax Incentive programs offered by the State of Missouri. The programs are offered through the Missouri Department of Economic Development (DED) and local communities. For more specific information, visit www.iced.org. Chapter 353 Tax Abatement; Enhanced Enterprise Zone; Film Production Tax Credit Program; Loan Guarantee Fee Tax Credit Program; Mutual Fund Tax Apportionment; Quality Jobs Program; Rebuilding Communities Tax Credit Program; Sales Tax Exemption; Small Business Incubator Tax Credit Program; Commercial Reinvestment Program; Micro Loan Program; Franchise Assistance Program The Neighborhood Assistance Program gives state income tax credit for contributions to community betterment and improvement projects. Investment Tax CreditsJob and investment tax credits are designed to encourage and assist new and expanding businesses in creating new jobs and investments locally. Enhanced Enterprise ZoneThe Enhanced Enterprise Zone Program (EEZ) is a discretionary program offering state tax credits to Enhanced Business Enterprises. Tax credits may be provided each year for up to five tax years, based on tax credits reserved for the project. A company may request a proposal for one additional five-year period for a subsequent expansion if all program and minimum new job/investment requirements are met. The Independence EEZ was approved in April 2008. EconomyAccording to projections by the Mid-America Regional Council, eastern Jackson County accounts for about 10.4 percent of the Kansas City metro area employment. This figure is projected to remain fairly constant through 2020. Between 2000 and 2020, employment in eastern Jackson County is projected to increase by more than 44,768 jobs from the current base of 121,018 jobs. Most of the growth will be in office employment (51.8 percent), with moderate growth in retail employment (32.3 percent). In Jackson County and the metro area as a whole, employment will shift away from industrial uses toward more office uses. Industrial development in eastern Jackson County has kept pace with that of Jackson County, but is less than the metro area, while the level of retail employment in the area is much greater. Given its suburban location, eastern Jackson County is not as developed in terms of office uses; however, this is projected to change in the future. By 2020, eastern Jackson County is projected to maintain its edge in terms of retail development and achieve a share of office development that is more comparable to that found in the metro area. Cost of LivingThe overall cost of living in Kansas City is less than the national average. The overall index is 96.3 compared to the national norm of 100. Cost of living in Kansas City is above Oklahoma City, Memphis and Houston, but less than in many larger midwestern and western metro areas including Denver, Chicago, Minneapolis, San Jose and Phoenix. The median value of a home in eastern Jackson County in 2009 was $129,929, which is 15 percent less than the metro area median of $142,585, and 2.5 percent higher than the Jackson County median of $117,422. Home values in the area have increased by roughly three percent annually since 2000. About 27 percent of housing units in eastern Jackson County have a value of less than $100,000, which is comparable to the metro area as a whole. However, the share of homes in the $100,000 to $149,999 range in eastern Jackson County (33.9 percent) is substantially higher than the metro area share of 26.7 percent. The share of units in the $300,000 and over range in eastern Jackson County is notably less than the share of units in the similar value range for the metro area. In general, eastern Jackson County as a region appears to be more affluent than Jackson County, but less affluent than the metro area in terms of housing values. However, there is wide variation in housing values among the communities in eastern Jackson County, with median values ranging from a high of $181,680 in Lee's Summit to a low of $102,771 in Independence. In the 2000 Census, median rent in eastern Jackson County was estimated at $569, compared to $536 for Jackson County and $577 in the metro area. The majority of units (42.6 percent) in eastern Jackson County have rents in the range of $500 to $749. Similarly high percentages of units in this range can be found in Jackson County and the metro area as a whole. TaxesState and local tax structures provide corporations with a favorable tax climate conducive to growth and profitability. About 4.5 percent of Missouri's tax revenue is derived from corporate income tax. In most cases, a company located in Missouri will have a lower corporate tax bill than in other states. The tax rate for individuals ranges from 1.5 percent on the first $1,000 of taxable income to 6 percent of taxable income over $9,000. Missouri taxable income is reduced by the amounts of various standard and itemized deductions. The standard deductions include a portion of federal income tax paid (up to $5,000 on a single return and $10,000 on a joint return), $1,200 for each dependent, $2,100 for each personal exemption, as well as the federal standard deduction for a married couple filing jointly who does not itemize deductions. Only income earned in Missouri is taxed. For more information, call Missouri Taxpayer Assistance at (816) 889-2944. Manufacturers' inventories (raw materials, goods in process, finished goods), retailers' goods and wares, wholesalers and distributors are exempt from all state and local property tax. A use tax is similar to a sales tax, but imposed only when tangible personal property comes into the state and is stored, used or consumed in Missouri. The state allows eight major exemptions from sales/use taxes for manufacturers and ICED has specific information on the exemptions. The total general sales tax (state, county and city) for Independence is 7.6 percent. MediaNewspaper, radio and television media serve the Independence area. TheIndependence ExaminerandKansas City Starprovide newspaper service. More than 30 AM/FM stations provide radio service. Seven local television stations, representing all major networks and a local cable television company, also serve Independence. EmploymentAccording to 2007 estimates, there are about 53,926 employed persons in Independence. Approximately 83 percent of adults have completed a high school education. There are a variety of major employers in Independence including manufacturers, health and social services, retail, construction and government. The largest private sector employers include a small arms ammunition manufacturer, health care provider, food manufacturer, and insurance services. Labor ForceIn 2007, eastern Jackson County contained about 15 percent of the metro area labor force with 148,829 employed persons. Of these employed people, 27 percent work at home or commute less than 15 minutes to work. Another 35 percent of these people commute 15 to 30 minutes, indicating that most people live a relatively short distance to surrounding job centers. Only 11 percent of commuters travel 45 minutes or more to work. Overall, the labor force characteristics of eastern Jackson County's population indicate they have a solid educational background. Approximately 87.5 percent of the area's employed residents have completed high school and a significant portion have some college education (26 percent). Just over 30 percent of adults in this region have an associate degree or higher. In general, the industry distribution of employed residents in eastern Jackson County is most heavily weighted toward education, health and social services which make up 18 percent of the workforce, similar to the metro area. Other significant sectors include retail with 12.2 percent of workers, manufacturing with 11.7 percent, finance, insurance and real estate with 9.1 percent, and professional and administrative services with 8.5 percent. Generally, the distribution of resident workers by industry is similar to the metro area as a whole. Eastern Jackson County is generally quite similar to the metro area in terms of its occupational mix, although eastern Jackson County includes slightly more sales and office workers than the metro area – 30 percent versus 28.6 percent. Looking at the detailed distribution of workers by occupation, the primary occupations of residents in eastern Jackson County include office and administrative workers, managers in business and financial fields, sales workers and other professionals including teachers. Compared to the metro area, eastern Jackson County has a slightly higher concentration of office and administrative workers and slightly fewer managerial positions. Community Facilities and Services
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Business Community - Retail and Office Space
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Independence is also home to several established retail areas with neighborhood charm and historic significance, including the Historic Independence Square, Englewood, Maywood, Fairmount and Susquehanna shopping districts. The recent establishments of Neighborhood Improvement Districts (NIDs) are bringing tax dollars earmarked for improvements to these areas. The NIDs provide funding for improving streets, curbs and lighting and the result is new life along these corridors. In addition, the 24 Highway corridor and the 40 Highway corridor are important entryways into Independence. These corridors are under study, and the city and local business groups are partnering to improve them.
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