Incentive Programs

KBI - Kentucky Business Investment Program

The Lexington-Fayette Urban County Government participates in the Commonwealth of Kentucky’s Kentucky Business Investment Program. This program is a state administered tax incentive, authorized by KRS 154.32, which is approved by the Kentucky Economic Development Finance Authority.

Eligibility

In order to be eligible a company must:

  • Create 10 new, full-time jobs for Kentucky residents.
  • Incur eligible costs of at least $100,000.
  • Pay average hourly wages of at least 150% of the federal minimum wage.
  • Provide a minimum level of benefits by the activation date.

Incentives are approved for up to 10 years. The Lexington-Fayette Urban county Government participates by providing an inducement of 1% of payroll taxes to the company per authorized job once a company has been approved by the Kentucky Economic Development Finance Authority. That reduces the payroll taxes paid per job from 2.25% to 1.25%. The local inducement is approved by resolution of the Urban County Council.

Contacts

Kevin Atkins

Chief Development Officer

Kentucky Cabinet for Economic Development

200 E. Main St.
Lexington, KY

Phone: (859) 258-3100 Fax: (859) 258-3194 (fax)

katkins@lexingtonky.gov

https://www.lexingtonky.gov/kentucky-business-investment-program

Category: Business, State Programs

More Business, State Programs

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... Learn More
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... Learn More
The purpose of the KEDFA Small Business Loan Program is to help small businesses acquire funding needed to start or grow their small business. KEDFA may provide terms that are more lenient, less secure, or otherwise less stringent than industry standards. The program guidelines as... Learn More
Eligible Companies Any business entity primarily engaged in manufacturing or service or technology activities, agribusiness, headquarters operations, alternative fuel, gasification, energy-efficient alternative fuels, or renewable energy production, carbon dioxide transmission pipelines, or in operating or developing a tourism attraction in Kentucky. Eligible company does... Learn More
The Kentucky Economic Opportunity Zone Program (KEOZ) focuses on the development of areas with high unemployment and poverty levels. The program provides an income tax credit of up to 100% of the Kentucky income tax liability on income generated by or arising out of the... Learn More
Eligible Companies Any business entity that manufactures an environmental stewardship product which is a unique product that has a substantial positive impact on the environment. Eligible Projects A project must have at least $5,000,000 in eligible costs to participate in the program. Approved companies... Learn More
Investments in new and expanding manufacturing projects may qualify for tax incentives for up to ten years. Companies must create at least 15 new full-time jobs and must make a capital investment of at least $100,000 in land, buildings, fixtures, and equipment. The project's real... Learn More
TVA offers a unique range of economic incentives that will benefit your project from start-up to long-term success in the Valley. Calculating TVA incentives is accomplished using both economic and power system metrics to create a profile of your company’s value to the region, and... Learn More