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INCENTIVES

There are a number of incentive programs available, at the federal, state and local levels.  We are committed to helping you determine and apply for the best incentive package that fits your specific needs.

Local Incentives

Springfield-Washington County is committed to providing a business climate that promotes sustainable success. 

We offer an occupational tax rebate incentive to any expanding or new business that meets the requirements of the Kentucky Business Investment (KBI) Program.  Eligible companies can apply to receive a 50% rebate on whatever was paid in occupational taxes during each year the incentive is awarded.  This applies to both the city of Springfield and Washington County, the city rate is 1.00% and the County rate is 0.75%.  The length of this rebate program is based upon the size of the project. 

Also, the city of Springfield offers a property tax abatement for eligible projects, the city real estate property tax rate is $0.14 per $100 valuation. 

Kentucky Incentives

Kentucky offers a number of different incentives for every type of project, including:

  • New and Expanding Industry
  • Job Retention
  • High-Tech
  • Energy and Environment
  • Small Business
  • Workforce Training
  • Tax Increment Financing (TIF)
  • Agri-business Opportunities
  • Tourism Development

To find out more about Kentucky incentives feel free to contact us or visit http://www.thinkkentucky.com/KYEDC/kybizince.aspx?param=0