Our Incentives

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.

 

There are many programs in the Commonwealth that can be utilized to assist businesses growth. Some are targeted to very specific circumstance others are applicable across the board to most employers. The following list of incentives includes those that are most commonly used in the Kentucky I-71 Connected region.

Major Business and Industry Assistance Programs

Kentucky Business Investment Program 

Provides income tax credits and wage assessments to companies locating or expanding in the state.

 

Industrial Revenue Bonds 

Provides lower financing rates and tax abatement's for up to 30 years on capital investments.

 

Kentucky Reinvestment Act 

Provides incentives for Kentucky companies that need to retool to be competitive in a global workplace.

 

Kentucky Enterprise Initiative Program 

Provides sales tax refunds for building and construction materials along with eligible equipment for research and development.

 

Community Development Block Grants 

Federally funded grants for machinery and infrastructure for new and expanding business.

 

KEDFA Direct Loan 

Finance up to $500,000 in low interest direct loan project funding.

Kentucky Industrial Revitalization Act provide tax credits and employee wage assessments for manufacturing companies in imminent danger of closing.

Bluegrass State Skills Investment Credit 

Provides tax credits for investments in employee occupational skills upgrades.

 

Bluegrass State Skills Grant - In Aid 

Provides matching funds for employee training activities.

 

Small Business Assistance Programs

 

Kentucky Small Business Credit Initiative

Small Business Loan Program

The Kentucky Small Business Tax Credit

Kentucky Microenterprise Loan Program

U.S. Small Business Administration

 Carroll County Community Development Corporation

511 Highland Ave.

PO Box 334

Carrollton, Kentucky 41008 | USA 

Shelby Miles, MPA

Executive Director

(502) 662-1426

shelby.miles@carrollcountyky.com

 

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Web Design by Serenity Rogers

Intern at CCCDC