Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Bardstown council approves 10-year occupational tax credit for Itsuwa KY expansion
Summary
The council approved Resolution R2023-08 granting Itsuwa KY, LLC an occupational tax credit equal to 0.5% on wages for up to 20 new jobs created by its facility expansion for a 10-year period.
The Bardstown City Council on June 13 approved Resolution R2023-08 to grant an occupational tax credit to Itsuwa KY, LLC tied to an expansion of its existing facility. City Attorney Audrey Haydon read the resolution; Councilwoman Betty Hart moved approval and Councilman Bill Sheckles seconded. The motion carried 6–0.
Under the resolution, the city will provide a tax credit equal to 0.5% on the wages of up to 20 new jobs created as a result of the expansion for a 10-year period. The resolution was presented as economic-development inducement to support the company's investment and job creation in Bardstown.
Next steps: the resolution was approved at the meeting and will be processed according to the city's administrative procedures for tax incentives.
