Kentucky on Business Facilities Online

KENTUCKY Fast Facts

• Population (2008): 4,269,245
• Largest Cities (2008):  Louisville (balance), 557,224; Lexington-Fayette, 282,114; Owensboro, 55,516;
   Bowling Green, 55,097
• Targeted Industries: Automotive, Aerospace & Aviation, Energy Technologies, Logistics, Food Processing
• Key Incentives: Incentives For Energy Independence Act, Jobs Development Act Program, Rural Economic
   Development Act
• GDP (All Industry 2008): $156.4 billion*

*Bureau of Economic Analysis, U.S. Department of Commerce

KENTUCKY State Incentives

The Kentucky Rural Economic Development Act (KREDA) is available to new and expanding manufacturing projects in qualified KREDA designated counties. Companies with projects approved under KREDA may potentially receive state income tax credits and job assessment fees for up to 100% of their capital investment for up to 15 years on land, buildings, site development, building fixtures, and equipment used in a project.

Kentucky Jobs Development Act (KJDA) is open to new and expanding service- and technology-related projects. KJDA projects may receive a 100% credit against the state income tax arising from a project and collect a job assessment fee of up to 5% of the gross wages of each employee whose job is created by the project and who is subject to Kentucky income tax. Amounts can be up to 50% of project start-up cost and up to 50% of annual facility rental cost or rental value for up to 10 years. The local community must approve the project prior to submission of an application.

New and expanding manufacturing projects can take advantage of the Kentucky Industrial Development Act (KIDA). Projects approved under KIDA may receive state income tax credits for up to 100% of its capital investment for up to 10 years on land, buildings, site development, building fixtures, and equipment used in a project. Or, the company may collect a job assessment fee of 3% of the gross wages of each employee whose job is created by the approved project and who is subject to Kentucky income tax.

Kentucky Environmental Stewardship Act (KESA) is for manufacturing environmental stewardship products that are unique products having a substantial positive impact on the environment. Companies with projects approved under KESA must have at least $5,000,000 in eligible cost and can potentially recover up to 25% of the project's fixed asset cost and 100% of employee skills training. The tax incentive is available for recovery over a 10-year period.

Explore detailed community demographic information at ZoomProspector.com

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