Valuation and consulting for financial reporting, federal, state and local tax, investment and risk management purposes.Valuation Advisory
During the August 2016 Center for Automotive Research (“CAR”) Management Briefing Seminar in Traverse City, several representatives of the Kansas City region attended to tout Missouri's automotive manufacturing industry. The region continues to expand its influence in the industry with recent announcements of new investments from Ford, GM and their suppliers. The addition of 11 auto suppliers in the past two years created 1,795 new jobs and made Kansas City the second largest auto hub in the U.S. behind Detroit. Examples include Ford's Claycomo plant, which employs more than 7,000 workers who build the top-selling F-150 pickup truck and the Transit utility van, as well as GM's Fairfax plant, which employs 3,500 workers who build the Chevrolet Malibu and an expected new Cadillac model.
Key reasons why Kansas City has become a major hub for automotive production:
$34,820 average wage
4.4% unemployment rate
Logistics and Infrastructure
Plenty of Space
The 1,340-acre KC Southern Intermodal Logistics Center is the newest/fastest inland route through North America with 5M sq. ft. of build-to-suit space available to transport auto parts
The 260-acre Riversize Horizons Business Park is central to several major highway routes and borders a vast network of local and regional distribution centers
For automotive companies wanting to locate facilities in this region, the state and local communities have been very supportive with their key incentives, including Missouri Works, a refundable or transferable tax credit, property tax relief afforded through Ch.100 financing, exemptions from sales/use tax for manufacturing equipment and grants to support infrastructure development and training. To advise companies on how to secure these incentives, Duff & Phelps has opened an office in Missouri with three knowledgeable business incentives professionals, two of whom previously worked for state and local government economic development organizations. Our professionals have the expertise to help you efficiently navigate the process and maximize your opportunities.