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Incentives
Tax Incentives l Low Interest Loans l Training l Industrial Revenue Bonds
Low Interest Loans
Maximum Amount Available
Requirements
Procedure
Time Frame
City of Hopkinsville
Robert Martin – 270.890.0250$100,000
Rate and Term Vary$5,000/Job
Requires Collateral
Complete Paperwork
Loan Fund is sold out until 09-10 Fiscal year. No more than 60 Days for approval.
Christian County Government
Chris Sutton – 270.886.9484$100,000
Rate and Term Vary$10,000/Job - No more than 1/3 of project
Complete Paperwork
60-90 Days
Local and State Approval
Area Development District
Chris Sutton – 270.886.9484 $150,000
Rate and Term Vary$10,000/Job - No more than 1/3 of project
Complete Paperwork
No more than 60 Days
KEDFA
KY Economic Development Cabinet
New: 502.564.7140
Existing: 270.316.4793$500,000
Rate and Term Vary$10,000/Job –
No more than 1/4 of
fixed asset costComplete Paperwork
KEDFA Board meets monthly unless Holiday. Must have paperwork in by end of previous month.
TVA
Roxann Fry – 270.792.1282$2 Million Maximum. 10-year term on real estate and 7 years on equipment.
$5,000/Job on New and Expansions projects. Amount increases to $10,000 for targeted industry. Leverage with other monies.
Complete Online Application at
http://www.tvaedfunds.com/ No more than 60 Days
| Training | Maximum Amount Available | Requirements | Procedure | Time Frame |
| Bluegrass State Skills Corp Reese Bailey Hopkinsville Community College 270.707.3744 |
$100,000 Per Year | 50/50 match on training PIMA Consortium allows for three companies to share in training – which increases chances of funding. |
Determine training needs – HCC will help complete grant forms. Choices of instruction are flexible. | Board meets monthly except for holidays. |
| Kentucky WINS Dr. Randy Wilson Hopkinsville Community College 270.707.3741 |
There is no maximum amount per year for WINS projects, but the project needs to be delivered within the year time limit. | 65% of Training is covered by program. | Determine training needs – HCC will help complete grant forms. Must use HCC for training. |
Applications can be sent in to the KCTCS Chancellor’s Office at any time for approval consideration. |
| ITEM Grant Dr. Randy Wilson Hopkinsville Community College 270.707.3741 |
$2.3 million Regional Grant for 2008-2011 | Will involve free or reduced cost classes for advanced manufacturing purposes. | The program is based on industry need and will take place over the life of the grant. | Interested parties should contact Dr. Wilson for training schedules and registration information. |
| Industrial Revenue Bonds | Maximum Amount Available | Requirements | Procedure | Time Frame |
| Bill Skees Frost, Brown & Todd 502.589.5400 City of Hopkinsville 270.890.0210 |
2 types of Bonds – Taxable & Tax-Free Up to $10 million |
Hire Bond attorney | Joint Application with City of Hopkinsville to KEDFA board 45 days prior to date of issuance. | 2-3 months |
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