Incentives
Kentucky offers a large number of progressive incentives for businesses. The following list includes those state incentives that are generally most applicable for industries considering Northwest Kentucky and several regional loan programs.
Incentives Table
|
Name of Program
|
Kentucky Jobs Development Act (KJDA)
|
Kentucky Rural Economic Development Act (KREDA)
|
Kentucky Industrial Development Act (KIDA)
|
| Qualifying Business | New or expanding non-mfg. and non-retail with 15 or more jobs | New or expanding manufacturing with 15 or more jobs and at least $100,000 investment |
New or expanding manufacturing with 15 or more jobs and at least $100,000 investment
|
| Special Qualifications | 75% of services to out-of-state customers | McLean County | Henderson, Union and Webster |
| Corporate Tax Credit Level | State Only | State Only | State only |
| Base for credits | 50% of startup cost limited to $10,000 per new job and 50% of annual rental value of facillty | Costs for land, buildings, fixtures, and equipment | Costs for land, buildings, fixtures, and equipment |
| Maximum Duration | 10 years | 15 years | 10 years |
| Employee Job Fees to Supplement Credits | Up to 5% of payroll | 4% of payroll | 3% of payroll |
| Employee Recoups Assessment Fee | 4/5 from state 1/5 from local |
From state | From state |
| Special Provisions | Local Government may provide services in lieu of local job assessment credit | Once operating under KREDA, benefits are maintained regardless of county's KREDA status | Company chooses either corporate tax credit or job assessment fee |
Additional Loan Programs
Additional loan programs are available through these Northwest Kentucky Partners:
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