KANSAS CITY, Mo. (AP) — There may be a cease-fire, but the economic “border war” involving the use of incentives to lure jobs across the state line in the Kansas City area isn’t exactly over.
Missouri officials plan to award $62 million in incentives to the Overland Park, Kansas-based financial firm Waddell & Reed. The incentives are through the Missouri Works program, which offers payroll tax withholdings or tax credits in exchange for growing or retaining jobs.
The company says it will invest about $90 million in its new Missouri headquarters and employ more than 1,000 workers. Average pay is $157,138.
The announcement comes a month after Kansas and Missouri governors celebrated an end to the use of tax incentives to lure companies across the state line.