My Report

Incentives

Grants & Tax Credits

  • KBI Program
    • Wage Assessment- 4% of total payroll credit against state income taxes
    • Income Tax Credit- up to 100% of corporate income or limited liability entity tax liability arising from the project
  • KEIA Program
    • Sales/Use Tax Refund- Refund of sales & use tax paid for building & construction materials, research and development equipment, and electronic processing equipment.
  • Bluegrass State Skills Workforce Training
    • Grant Reimbursement- up to 50% matching reimbursement for in-house training; educational institution and consultant training; instruction materials, texts, and supplies; train-the-trainer travel; trainee wages and registered apprenticeship training-year one apprentices. The maximum funding for companies with 1-499 employees is $25,000 and $50,000 for companies with $500+ employees.
    • Tax Credit- up to 50% of training costs can be recovered as a state tax credit limited to $500 per Kentucky employed residents, not to exceed $100,000. Eligible costs include: in-house training; educational institution and consultant training; instruction materials, texts, and supplies; train-the-trainer travel; trainee wages and registered apprenticeship training-year two, three, and four apprentices.
  • Kentucky Wins In-Kind Training
    • In-kind training through the local community colleges which provides recruiting, screening, and training assistance.

Loan Programs

  • KEDFA- Click here to learn about this loan program: https://www.thinkkentucky.com/kyedc/pdfs/kedfadcp.pdf
  • IRBs- local financing mechanism for high impact projects. Additionally, a 5-year property tax abatement can be offered through this program.
  • CDBG- low interest loan financing for high impact projects.

Source of Business and Labor Numbers: The Next Move Group, LLC

 

Kentucky Lake Economic Development
in Marshall County
270.527.2009 • fx: 270.527.9896 • cell: 270.493.1958 • email
1101 Main Street • Benton, Kentucky 42025

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