I-71 Corridor Incentives
The state of Kentucky offers targeted incentives at the county and state level. A few business incentives include streamlined application process, business investment programs, bonds, grants, and loans. Whether a large corporation or a small business there is an incentive program available to meet your needs. In addition, Kentucky’s I-71 Corridor has Opportunity Zones creating additional tax savings for investors.
In 2012, The Tax Foundation ranked Kentucky as the 11 most business friendly state. While this ranking measures the overall cost of doing business, Kentucky has long been a leader in the area of targeted incentives. The state’s current incentive package was revised in 2009 to streamline the application process and to add additional programs to aid new and existing business.
National Incentives Coverage Map
Major Business and Industry Assistance Programs
Results
Provides matching funds for employee training activities.
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Provides tax credits for investments in employee occupational skills upgrades.
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Federally funded grants for machinery and infrastructure for new and expanding business.
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Provides lower financing rates and tax abatements for up to 30 years on capital investments.
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Finance up to $500,000 in low interest direct loan project funding.
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Provides income tax credits and wage assessments to companies locating or expanding in the state.
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Provides sales tax refunds for building and construction materials along with eligible equipment for research and development.
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Provides tax credits and employee wage assessments for manufacturing companies in imminent danger of closing.
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Small businesses engaged in the manufacturing, agribusiness or service and technology fields often need to update or purchase equipment to remain competitive in today’s marketplace, but often securing those funds through traditional lenders can prove difficult for a variety of reasons. The Kentucky Economic Development...
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Provides incentives for Kentucky companies that need to retool to be competitive in a global workplace.
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Do to the risky nature of small businesses, many entrepreneurs struggle to find traditional lending opportunities to start or expand their business. In an effort to help mitigate the risk associated with lending to small businesses, the Cabinet for Economic Development offers three distinct credit...
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The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also...
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A reward for your success
Your company may be eligible for a substantial tax credit just for doing what successful businesses do – grow!
It’s simple. The Kentucky Small Business Tax Credit program offers between $3,500 and $25,000 per year for small businesses...
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