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Local Incentive Programs
Development Incentive for Licensed Professionals
A new or existing sole proprietorship, partnership, limited liability company, or corporation that engages in the services of a licensed professional, such as, but not limited to, architects, attorneys, engineers, physicians, psychiatrists, psychologists, and certified public accountants may be eligible for an employee withholdings incentive payment equal to fifty percent (50%) for up to five (5) years. Applicants located in or locating to the Florence Main Street District must generate a minimum of $150,000 in new Florence taxable wages. Applicants located in or locating to the Central Florence District must generate a minimum of $300,000 in new Florence taxable wages. The incentive is not available in other areas of the city.
Development Incentive for Industry, Service, or Technology
A new or existing sole proprietorship, partnership, limited liability company, or corporation authorized to do business in the Commonwealth of Kentucky exclusive of retail, restaurants, bars, hotels/motels, non-profits, or a sexually oriented business/adult entertainment business may be eligible for an employee withholdings incentive payment equal to fifty percent (50%) for up to five (5) years. Applicants located in or locating to the Florence Main Street District must generate a minimum of $300,000 in new Florence taxable wages. Applicants located in or locating to the Central Florence District must generate a minimum of $500,000 in new Florence taxable wages. Applicants located in or locating to other areas of the city must generate a minimum of $2,000,000 in new Florence taxable wages.
Development Incentive for Florence Main Street Reinvestment
A new or existing sole proprietorship, partnership, limited liability company, or corporation authorized to do business in the Commonwealth of Kentucky exclusive of non-profit or sexually oriented business/adult entertainment businesses that redevelop a property in the Florence Main Street District that has been unoccupied for at least 18 months may be eligible for an employee withholdings incentive payment equal to fifty percent (50%) for up to two (2) years.
