Generous financial incentives are available in the form of tax credits, job assessment fees, training grants and revenue bonds. Millions of dollars are budgeted annually and are available to qualifying companies.
Knox County, where the park is located, has access to Kentucky Business Incentives which encourages new or renewed development to targeted areas by offering special tax incentives and eased regulations to businesses locating in the zone.
Kentucky's pro business climate provides a number of incentives for businesses. The Kentucky Economic Development Finance Authority (KEDFA) was established within the Cabinet for Economic Development to encourage economic development, business expansion, and job creation by providing financial support through an array of financial assistance and tax credit programs. Helping businesses in this way furthers the Commonwealth's goals of achieving long-term economic growth and full employment for its citizens.
KEDFA approval is required for participation in the loan and tax incentive programs, except the Skills Training Investment credits, which are approved by the Bluegrass State Skills Corporation. KEDFA meets the last Thursday of each month. Projects must be received by the last Friday of the month prior to the KEDFA meeting date in order to be considered.
To find out what incentives are available for your business, contact Bruce Carpenter, Executive Director of the Southeast Kentucky Industrial Development Authority. .
For a quick view of taxes and incentives, click here.