Incentives for a New Kentucky Signed Into Law
June 29th, 2009
Last week, the Governor signed into law the Incentives for a New Kentucky act, providing a major overhaul of Kentucky’s incentive programs.
The sweeping legislation does the following:
- Combines the four previous K-programs (KREDA, KIDA, KJDA, and KEOZ) into one, flexible program.
- It creates a new program to assist companies who are retooling and reinvesting in their facilities to maintain viability.
- It enhances opportunities for technology intensive businesses and headquarters locations.
- It expands film, tourism, and historic preservation incentives.
- And lots of other programs!
The bill included an emergency declaration so the programs and initiatives took effect upon signing. The Kentucky Cabinet for Economic Development is working feverishly to create program guidelines, fact sheets, and applications and should be ready by the end of July.
Its an exciting time in Kentucky. If your business in considering a relocation or expansion, contact us to find out how we can assist – results@northwestky.com.
