Waddell & Reed Financial Inc. has selected 1400 Baltimore Ave. as the location for its new $140 million headquarters in downtown Kansas City.
A massive package of local incentives for the headquarters will head to the city council next week after a council committee approved the plan during a lengthy Wednesday meeting.
If approved, the roughly $44 million in local incentives the Overland Park-based financial services company will get would come in addition to the $62 million the company received from the state for relocating its offices less than 10 miles away from its current location at 63rd Street and Lamar Avenue.
Should the city approve its portion of the incentives, allocated through a 75% property tax abatement for 15 years, the company would stand to receive more than $106 million in redirected state and city tax dollars.
Read the rest of the story in the Kansas City Business Journal.
(Kansas News Service)
www.kcur.org
