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Kansas Economic Opportunity Initiative Fund (KEOIF)

This program was created to provide loans and/or grants to secure the new location, expansion or retention of businesses/facilities in Kansas. Please note, KEOIF was discontinued in 2011 and replaced by the Job Creation Fund (JCF).

In 1994, the Kansas Legislature created KEOIF authorizing Commerce to provide financial assistance in the form of grants, loans or both to address business expenses involved in securing economic benefits or avoiding or remedying economic losses related to: 1) a major expansion of an existing Kansas commercial enterprise; 2) the potential location in Kansas of the operations of a major employer; 3) the award of a significant federal or private sector grant which had a financial matching requirement; 4) the departure from Kansas or the substantial reduction of the operations of a major employer; and 5) the closure or the substantial reduction of a major federal or state institution or facility.

Typically, non-interest bearing loans that can be forgiven are issued in exchange for annual employment and payroll commitments/performance measures by the “borrower” for a reporting period of five years. Once a KEOIF agreement was executed and funds were drawn, annual reports were required to track the borrower’s progress. Any shortfall in stated performance measures was calculated and the borrower was required to repay a portion of the loan which was deposited back into the fund.

Reports & Data