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Kentucky
Resources Page
Geothermal Energy: Rising to the SurfaceAlthough geothermal shows promise as a truly renewable energy source, cost and maintenance concerns could hinder the progress of its development. More |
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OEMs Supplying the Alternative Energy IndustriesA Google Maps mash-up charting alternative energy OEM cluster growth throughout the United States More |
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The Case for Infrastructure InvestmentOfficials in many U.S. locations are beginning to see the financial rewards of long-term investment in infrastructure — including attracting new business and potentially improving the national economy. More |
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Kentucky Wagers on Entrepreneurship, Biotech, and Alternative Energy DevelopmentWhen John Hindman joined the Kentucky Cabinet for Economic Development in June 2007 as secretary, he recalls being “impressed by the number of progressive incentives and programs that Kentucky offered for business, especially those that benefit high-tech startup companies. More |
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State Contacts
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Kentucky
At A Glance
POPULATION:
4,241,474 (2006)
Corporate Income Tax: 4 percent of first $50,000 of taxable net income allocated to Kentucky; 5 percent on next $50,000; 6 percent on taxable income over $100,000
Kentucky Economic Development Finance Authority (direct loans and small business loans) State Income Tax Credits:
LABOR FORCE: 2,031,470
RIGHT TO WORK: NoTRADITIONAL INDUSTRIES: Agriculture, mining, manufacturing
EXPANDING INDUSTRIES: High-tech manufacturing, business and financial services, automotive and related industries, research and development, warehousing and distributionCOLLEGE GRADUATES: (Age 25 and over) 20.0%
BASIC BUSINESS TAXES:Corporate Income Tax: 4 percent of first $50,000 of taxable net income allocated to Kentucky; 5 percent on next $50,000; 6 percent on taxable income over $100,000
Corporation Franchise Tax: None
Sales and Use Tax: 6 percent of retail sales price of property sold, including utilities, that are used, consumed, distributed, or stored; 6 percent of rental charges and cost of admissions; no local sales taxProperty Tax: Real property is taxed at a state rate of $0.124 per $100 and is also taxed by local jurisdictions at varying rates; manufacturing machinery, telephone equipment, and pollution-control equipment are taxed only by the state at $0.15 per $100 assessed valuation
Kentucky Economic Development Finance Authority (direct loans and small business loans) State Income Tax Credits:
- New and expanded service and technology businesses
- New and expanded alternative fuel, gasification, and renewable energy facilities
- New and expanded environmental product manufacturing
- New and expanded industry sales tax refunds
- Bluegrass State Skills Corp.
- (work force
- training)
SPONSOR PROFILES:
