Bluegrass State Skills Corporation Tax Credit
The importance of a skilled workforce has never been greater. As companies think globally, it is vital that Kentucky's workforce be prepared to meet the hiring demands of employers. The Cabinet for Economic Development plays a significant role in keeping Kentucky's businesses competitive in the global economy by providing financial assistance to train their workforce. Through the Cabinet’s Grant-in-Aid and Skills Training Investment Credit, the Kentucky Skills Network provides incentives to support Kentucky business’ efforts to help new and existing employees stay competitive through flexible, employer-driven skills-upgrade training.
The Skills Training Investment Credit (STIC) offers state income tax credits for companies to offset the costs for approved training programs provided to incumbent employees of companies engaged in the manufacturing, agribusiness, non-retail service or technology, national or regional headquarters, and healthcare company sectors.
Applications for the program are accepted and considered for approval by the Bluegrass State Skills Corporation Board of Directors at scheduled meetings throughout the year.
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