BSSC, an independent quasi-public corporation within the Cabinet for Economic Development, provides grants for customized skills training of workers for new and expanding business in Kentucky. Grants are awarded for portions of an employer's costs of training Kentucky residents in job skills ranging from entry level to advanced, including retraining and skills upgrading of existing employees.

BSSC works with other employment, job training resources, and financial incentive agencies to design a training program customized to meet the specific needs of a company.
 

KREDA provides tax credits for new and expanded manufacturing projects that create jobs in counties with unemployment rates higher than the state average in each of the five proceeding calendar years. Companies with approved projects receive state income tax credits and job assessment fees for up to 100% of annual debt service costs for up to 15 years on land, buildings, building fixtures, and equipment used in the project. The company may collect a job assessment fee of up to 4.0% of the gross wages of each employee whose job is created by the approved project and who is subject to Kentucky income taxes. The employee receives credits for the fee against withheld state income taxes and local occupational taxes.
 

KJDA provides tax credits for new and expanded non-manufacturing projects that provide at least 75% of their services to customers outside of Kentucky and that create at least 25 new full-time jobs for Kentucky residents. Companies with approved projects receive state income tax credits and job assessment fees for up to 50% of project startup costs and 50% of annual facility rental cost or rental value for up to 10 years. The company may collect a job assessment fee of up to 5.0% of the gross wages of each employee whose job is created by the project and who is subject to Kentucky income taxes. The employee receives credits for the fee against withheld state income taxes and occupational taxes.

KJDA charges a closing fee of 0.1% of approved costs. Additionally, projects approved pay an annual fee equal to 5% of the total KJDA tax credits and wage assessments taken for the previous tax year, for a state research fund.
 

IRBs issued by state and local governments in Kentucky can be used to finance manufacturing projects and their warehousing areas, major transportation and communication facilities, most health care facilities, and mineral extraction and processing projects. Bond funds may be used to finance the total project costs including engineering, site preparation, land, buildings, machinery and equipment, and bond issuance costs. Property financed by IRBs and owned by a governmental unit is exempt from all state and local property taxes, except for a nominal state leasehold tax of $0.015 per $100 of leasehold value. Some local governments may negotiate for payments in-lieu-of property taxes not collected on IRB financed projects. Kentucky law also allows the borrower to retain ownership of the property financed with bonds. Property in this case is subject to full state and local property taxes.
 

Financing of fixed assets is available through the Kentucky Economic Development Finance Authority (KEDFA). The Authority may participate in financing of qualified projects with a secured loan of up to $10,000 per new job created, not to exceed $500,000 or 25% of the project cost, whichever is less. These funds may be used to assist in the purchase of land, the purchase of existing buildings, new construction, or the purchase of equipment. The interest rate is fixed for the life of the loan, and is determined by the length of term. A ten year loan bears an interest rate of 5.0%, while the rate on a three year note is 1.0%, with both rates based on a monthly payment schedule.