Governor Steve Beshear ceremonially signed legislation today expanding incentives towards tourism projects in Kentucky's rural counties, including eight in our area.
House Bill 493, passed in the 2014 General Assembly, makes major changes to the amount of money that can be allocated to the Commonwealth's 77 "enhanced incentive counties."
“Since the Kentucky Tourism Development Act was approved in 1996, more than $1 billion has been invested in Kentucky tourism attractions,” said Gov. Beshear. “This legislation will help encourage tourism development in rural parts of Kentucky.”
In our region, the enhanced incentive counties include Ballard, Hickman, Fulton, Marshall, Crittenden, Trigg, Christian and Muhlenberg counties.
The certification comes from the Kentucky Economic Development Cabinet.
The bill makes two major changes to Kentucky tourism incentive law: the minimum investment required is reduced from $1 million to $500,000, and the maximum incentive increases from 25 percent to 30 percent.
