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Job Development Incentive Fund
In the City of Bowling Green, a loan or financial incentive of up to 75% abatement of the local occupational license fee (OLF) withholdings is offered to new or existing service, technological or industrial companies. For a new job creating project, the Company must submit an application to the Chief Financial Officer of the City who in turn will have it reviewed by the Job Development Incentive Committee and final review by the City Commission (a process which takes about four weeks).
The incentive period may be up to 60-months or up to 120-months based on the applicable state incentive period. Company payroll from the new project full time jobs must generate an average OLF of $10,000 per year in employee withholdings over the incentive period to qualify. At present, the OLF rate is 1.85% of employee gross pay.
Build-to-Suit/Leaseback Options
The Bowling Green Area Economic Development Authority (BGAEDA) can provide a build-to-suit capitalized leaseback which can provide property tax relief. However, payment in lieu of school taxes is requested and an administration fee is assessed.
Enterprise Community Incentives
On January 21, 1999 the United States Department of Agriculture recognized Bowling Green as an Enterprise Community. Through the Enterprise Community designation, selected industrial sites can receive federal tax exemptions of up to $2,100 per employee for the hiring of targeted employment. Assistance in identification of these potential employees is available through the local Department for Employment Services.
Additional Incentives
Companies eligible for Kentucky Jobs Development Act (KJDA) are also eligible for a 10% reduction in Bell South monthly services for one year and a waiver of installation fees.
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