Companies receiving economic development funds created a total of 1,463 jobs — 2 percent above the projected total — in 2017, according to a report from the Manhattan city government.
City officials will present the annual report, which provides accountability for the entities that receive eco devo money, to the city commission at its meeting Tuesday night.
Highlights from the report include the completion of the second building in the K-State Foundation Office Park in summer 2018, for which it received payment from the city for $800,000 (a $300,000 forgivable loan and a $500,000 conventional loan). Also, the city received a payment from Tallgrass Brewing Co. for $6,050 for underperformance in the job creation category. Tallgrass subsequently closed.
According to the report, for every $1 the city spent or committed toward economic development since 1995, approximately $9.36 in private sector and other investments were made.
The figures do not include future capital investments that are anticipated for projects that are still in progress.
And the report says the city has funded more than 15 infrastructure projects through the eco devo fund.
These projects include infrastructure improvements to accommodate the National Bio- and Agro-Defense Facility, as well as improvements to the Manhattan Regional Airport and various roadways.