Economic Development Credits for Small Business in Kentucky
Issue Overview: For years, large businesses have received millions of dollars of economic tax credit incentives to stimulate employment. This continues to occur despite the fact small business continues to produce most real job growth. Few programs exist to assist existing small businesses to expand, innovate and modernize their operations. Without these infusions of capital and technology, Kentucky small businesses will not be able to compete in the global marketplace, much less add new jobs.
NFIB Position: Allocate a portion of the existing pool of economic development tax credit incentives to the small-business sector. Develop a streamlined program for application for inclusion and create incentives for small business to grow, compete and develop new products for our changing economy.
Issue Status: BR114 has been pre-filed with over 20 co-sponsors. Please contact your state senator and representative, and ask them to co-sponsor and support economic tax incentives for small business.
