POPULATION: 4,395,295 (2013)
LABOR FORCE: 2,413,942 (2013)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Automotive, distribution and warehousing, food manufacturing, fabricated metals, chemicals, healthcare, distilling, equine, defense, agriculture, mining
EXPANDING INDUSTRIES: Heathcare; finance; educational services; warehousing and storage; food manufacturing; transportation services; professional, scientific, and technical services
COLLEGE GRADUATES: (Age 25 and over) 22.6%
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 is used, consumed, distributed, or stored; 6 percent of rental charges and cost of admissions; no local sales tax
Property Tax: Real property is taxed at a state rate of $0.122 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.
BUSINESS INCENTIVES:
New and expanding industry tax credits for manufacturing, service, and technology businesses
Reinvestment tax credits for existing manufacturers
Tax credits for environmental product manufacturing
Tax credits for new and expanding alternative fuel, gasification, and renewable
energy
Skills training grants and tax credits
New and expanding industry sales and use tax refunds
Tax increment financing
Grants and loans used to promote technology-driven industries
SBIR-STTR matching funds
Community Development Block Grants
Alternative fuels and renewable energy R&D tax credits
Debt or equity investments for early-stage high-tech firms
Venture capital-style state funding for early-stage technology firms
Grants to promote exports
Small business and micro loan programs
Small business tax credits
Direct loans
Film tax credits
Tourism project tax credits
Source: Bureau Economic Analysis (BEA) 2013 Full-time and part-time wage and salary employment by NAICS industry
