02/07/2008
CONTACT: Tom Underwood, 502-223-5322 or Todd Pack, 615-872-5897
Credits would help businesses grow, create jobs
FRANKFORT, Ky. -- Members of the National Federation of Independent Business, the state's leading small-business advocacy group, are strongly in favor of a plan to use state tax credits as a way to encourage investment in small business, according to the results of the 2008 NFIB Member Ballot.
"Small business is the heart of the state's economy," said Tom Underwood, state director for NFIB/Kentucky. "Just over half of all working people in Kentucky are employed by small businesses. State tax credits would help these businesses grow and add jobs. Now more than ever, Kentucky can't afford to ignore small business."
On the question of whether Kentucky should have an economic development program that would provide state tax credits specifically for small business, 87.3 percent of respondents said "yes." Of the rest, 3.7 percent said "no," while 8.6 percent were undecided.
When asked whether their business would seek these credits, 64.9 percent said "yes," while 10.6 percent said "no" and 23.7 percent were undecided.
Unlike other business groups, NFIB's public policy positions are based on input from members, and the Member Ballot is an essential part of that process. "We listen to our members, and we take their message to legislators," Underwood said.
On a separate question, 77.6 percent of respondents support a measure to let small businesses join together to purchase health insurance for their employees.
"On their own, too many small businesses can't afford to provide health benefits to their employees," Underwood said. "If small businesses could come together, they could negotiate better rates and help build a healthier Kentucky."
