Kentucky Tax Incentives
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Kentucky Tax Incentives
Page Contents
- Assistive Technology – Device Demonstration
- Assistive Technology – Lending Library
- Assistive Technology – Reutilization
- Cabinet for Economic Development
- Chamber of Commerce
- Grant-in-Aid
- Kentucky Assistive Technology Loan Corporation
- Kentucky Assistive Technology Service Network
- Kentucky Business Incentives
- Kentucky Business Investment
- Kentucky Economic Development Finance Authority Small Business Loan Program
- Kentucky Industrial Revitalization Act
- Kentucky Reinvestment Act
- Kentucky Small Business Credit Initiative
- Kentucky Small Business Tax Credit
- Office of Vocational Rehabilitation – District Offices
- Office of Vocational Rehabilitation – Employer Services
- Skills Training Investment Credit
- The Buck Starts Here: A Guide to Assistive Technology in Kentucky
Assistive Technology – Device Demonstration
The Assistive Technology Demonstration Centers provide a place for people of all ages and disabilities, their family members/caregivers as well as educators, healthcare providers and other professionals to learn about and try out the latest Assistive Technology .
Assistive Technology – Lending Library
The network of lending library programs offers individuals the opportunity to borrow assistive technology equipment on a short-term basis. Requests for devices can be made by a consumer with a disability, a family member, friend or advocate, or rehabilitation professional.
Assistive Technology – Reutilization
The Kentucky Assistive Technology Service Network maintains an Assistive Technology Exchange List, similar to classified ads or "Craig's List". The Assistive Technology Exchange List helps people with disabilities and anyone with functional limitations find affordable assistive technology, devices and equipment.
Cabinet for Economic Development
The Cabinet for Economic Development is the primary state agency in Kentucky responsible for encouraging job creation and retention, and new investment in the state. Programs administered by the Cabinet are designed to support and promote economic development, primarily by attracting new industries to the state, assisting in the expansion of existing industries, leading a statewide network of support for entrepreneurs, small business owners and knowledge-based start-up entities, and assisting communities in preparing for economic development opportunities.
Chamber of Commerce
The Kentucky Chamber of Commerce is the only business association in the state advocating for companies of all sizes and industries across the Commonwealth.
Grant-in-Aid
The competitive grant-in-aid program's basic purpose is to improve and promote employment opportunities for the residents of Kentucky through training grants with business and industry. The Grant-in-Aid program provides up to 50% reimbursement of eligible costs to companies/consortia for approved training activities. Consortia projects, which promote collaborative training initiatives for companies that have common training needs, must be industry driven and be a partnership between business/industry, education, and government working together to maximize the effectiveness of the current and future workforce. The following firms are eligible to apply for BSSC funds: manufacturing; service and technology (non-retail); public or non-profit hospitals; and training consortia with three or more eligible companies. Any business whose primary purpose is the sale of goods at retail does not qualify.
The following training types are allowed under Grant-in-Aid guidelines: in-house training; educational institution and consultant training; instructional materials, texts and supplies; train-the-trainer travel; trainee wages and registered apprenticeship training – year one apprentices.
This grant program can enable a worker with a disability to obtain the skills training he/she needs to be successful at work.
Kentucky Assistive Technology Loan Corporation
The Kentucky Assistive Technology Loan Corporation offers low interest loans for qualified applicants with disabilities who need assistive technology. Working with its lending partner, Fifth Third Bank, the Kentucky Assistive Technology Loan Corporation can provide loans for modified vehicles, hearing aids, adapted computers, mobility devices, augmentative communication devices or any other type of equipment or home modification that will improve the quality of life or increase the independence of Kentuckians with disabilities.
Kentucky Assistive Technology Loan Corporation Brochure PDF
Kentucky Assistive Technology Loan Corporation Application DOC
Kentucky Assistive Technology Service Network
The Kentucky Assistive Technology Service Network serves as the Assistive Technology Act Program for the State of Kentucky. Their mission is to make assistive technology information, devices and services easily obtainable for people of any age and/or disability, their families, employers and employment service providers, educators, healthcare and social service providers.
Kentucky Business Incentives
Kentucky offers a number of progressive incentives for businesses. This document offers general summaries on these programs.
Kentucky Business Incentives Summary PDF
Kentucky Business Investment
The Kentucky Business Investment Program provides income tax credits and wage assessments to new and existing agribusinesses, regional and national headquarters, manufacturing companies, and non-retail service or technology related companies that locate or expand operations in Kentucky.
The business expansion generated by this program could mean an increase in employment opportunities for workers with disabilities.
Projects locating in certain counties may qualify for enhanced incentives. This is a map of the enhanced incentive counties.
Map of the Enhanced Incentive Counties PDF
Kentucky Business Investment Fact Sheet PDF
Kentucky Economic Development Finance Authority Small Business Loan Program
Small businesses engaged in the manufacturing, agribusiness or service and technology fields often need to update or purchase equipment to remain competitive in today’s marketplace, but often securing those funds through traditional lenders can prove difficult for a variety of reasons. The Kentucky Economic Development Finance Authority under the direction of the Cabinet for Economic Development and the Office of Entrepreneurship can offer fixed rate loans for projects like these.
The jobs created as a result of these business loans can be held by workers with disabilities.
Small Business Loan Program Guidelines PDF
Kentucky Industrial Revitalization Act
Companies approved under the Kentucky Industrial Revitalization Act may receive state income tax credits, Kentucky Corporation License Fee credits, and job assessment fees for up to ten (10) years limited to seventy-five percent (75%) of the costs of the rehabilitation or construction of buildings and the refurbishing or purchasing of machinery and equipment.
Kentucky Industrial Revitalization Fact Sheet PDF
Kentucky Reinvestment Act
Any Kentucky company engaged in manufacturing and related functions can receive financial assistance with the purchase of eligible equipment or obtaining skills training for their employees. Costs must be approved by the Kentucky Economic Development Finance Administration for recovery.
The skills upgrade available through this Act can benefit a worker who has a disability and needs his/her skills to be updated in order to remain gainfully employed.
Kentucky Reinvestment Act Fact Sheet PDF
Kentucky Small Business Credit Initiative
The Kentucky Small Business Credit Initiative includes three distinct credit enhancement programs designed to generate jobs and increase the availability of credit to small businesses by reducing the risk participating lenders, credit unions, and community development financial institutions assume. Kentucky Small Business Credit Initiative will leverage funding from these private lenders to help finance creditworthy small businesses that would typically fall just outside a lender’s normal underwriting standards.
The three programs that compose Kentucky Small Business Credit Initiative are:
- Kentucky Capital Access Program
- Kentucky Loan Participation Program
- Kentucky Collateral Support Program
With assistance through this initiative, Kentucky small businesses can receive the funding to create jobs, which could mean more employment opportunities for workers with disabilities.
Kentucky Small Business Credit Initiative Fact Sheet PDF
Kentucky Small Business Tax Credit
The Kentucky Small Business Tax Credit program is designed to encourage small business growth and job creation. With certain exceptions, most for-profit businesses with 50 or fewer full-time employees are considered eligible. The tax credit for which a business may be eligible could total between $3,500 and $25,000, depending on the number of employees that are hired and the total amount of investment in equipment or technology.
The business growth that occurs as a result of this tax credit could mean an increase in job opportunities for workers with disabilities.
Kentucky Small Business Tax Credit Fact Sheet PDF
Kentucky Small Business Tax Credit Guidelines PDF
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Kentucky Small Business Tax Credit Application XLS
Office of Vocational Rehabilitation – District Offices
See the directory or local district office directory to contact the office nearest you.
Office of Vocational Rehabilitation – Employer Services
The Kentucky Office of Vocational Rehabilitation Employer Services assists businesses in hiring, developing and keeping valued employees. It provides an array of services at no cost. The Office of Vocational Rehabilitation wants to work with your business toward placement and retention of persons with disabilities in the workforce. Its custom-designed programs and services exemplify your tax dollars at work for Kentucky's business and industry.
Skills Training Investment Credit
The Skills Training Investment Credit program's basic purpose is to improve and promote of the overall eligible training. The Skills Training Investment Credit allows tax credits for up to 50% of eligible training costs.
Through this program, workers with disabilities can get the job training they need to advance in their careers and their employers will benefit because of the tax credit they receive for providing it.
Skills Training Investment Credit Fact Sheet PDF
Skills Training Investment Credit Application xls
Skills Training Investment Credit Guidelines PDF
The Buck Starts Here: A Guide to Assistive Technology in Kentucky
The Buck Starts Here: A Guide to Assistive Technology in Kentucky is designed to be a guide for anyone who needs financial assistance to purchase assistive technology as an aid to independent functioning and improved quality of life.
