Business Incentives Drive Investment

The City of Richmond offers local incentives for qualifying projects. Please contact the Richmond Industrial Development Corporation for the latest information on local programs and eligibility.

Statewide Incentives That Advance Growth

Kentucky Business Investment (KBI) Program

Provides income tax credits and wage assessments for qualified projects in manufacturing, headquarters operations, renewable energy, and other target industries.

Kentucky Enterprise Initiative Act (KEIA)

Refunds sales and use taxes on building materials, equipment, and related construction expenses for eligible projects.

Kentucky Reinvestment Act (KRA)

Offers tax credits to existing Kentucky businesses reinvesting in capital equipment, technology, or facility upgrades.

Industrial Revenue Bonds (IRB)

Provides flexible financing for manufacturing, logistics, healthcare, and mineral processing facilities through state and local bond issuance.

Workforce Development & Training Support

Bluegrass State Skills Corporation (BSSC)

Offers Grant-in-Aid and Tax Credit programs to help employers train new and existing workers.

Skills Training Investment Credit

Delivers a tax credit for businesses providing occupational or skills upgrade training to employees.

Bluegrass State Skills Grant Reimbursement Program

Provides matching grant funds for customized, industry-specific training programs.

Small Business & Entrepreneurship Programs

Kentucky Small Business Credit Initiative (KSBCI)

Improves loan access for small businesses by reducing lender risk and encouraging capital investment.

Small Business Loan Program

Provides loans of $15,000 to $100,000 to startups and expanding businesses in manufacturing, agribusiness, and service industries.

Kentucky Small Business Tax Credit (KSBTC)

Awards tax credits to businesses that create new full-time jobs and purchase qualifying equipment.

Angel Investment Tax Credit

Offers a 40% tax credit to investors supporting qualified Kentucky small businesses.

Industry-Specific Incentives

Kentucky Qualified Data Center Project Incentive Program

Provides sales and use tax exemptions for qualifying data center projects.

Local Incentives

Local Incentives

Currently, the City of Richmond is reviewing local incentive programs. Please contact the Richmond Industrial Development Corporation for the latest information on local programs and eligibility.