Fri October 11, 2013
Bannister Mall Project To Get Combined $1.6 Billion In Incentives From City, State
Big plans for the Bannister Mall area got final approval from the city council Thursday.
Cerner Corporation gets big incentives for its $4.5 billion Bannister area redevelopment project. Tax incentives from the city and the state of Missouri total $1.63 billion.
Too much in tax breaks? Councilman Scott Taylor didn't think so.
“If ever there was a project that needed incentives it was this project. Even with those incentives, it's still a risky project because it's such a large project in scope: the largest office development project in the city's history and one of the largest in the United States,” he told the council.
Passed with one dissenting vote, the project sparks big dreams and expectations. Millions of square feet of office space, 15,000 good jobs, a revitalized Bannister area and encouragement for other companies to invest in Kansas City.
Cerner expects to start construction next year.