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KY Tourism Development Finance Authority approves projects
No South Central Kentucky, 7 County - Adair, Casey, Cumberland, Green, Metcalfe, Russell, Taylor - Area projects. Arts and Heritage Cabinet Approves tax incentives for Rare Breed Distillery makers of Wild Turey, on $4 million project which includes tasting room; approves $250,000 loan for adventure tourism business which includes bike trails, in Northern Kentucky; and tax credits for production of movie, "A Doll's House," in Northern Kentucky - CM
By Todd Cassidy, Gil Lawson
FRANKFORT, Ky. - The Kentucky Tourism Development Finance Authority gave final approval or preliminary approval to three tourism and film projects during its meeting Tuesday, November 22, 2011.
The authority considers applications under the Kentucky Tourism Development Act, which allows eligible tourism attractions a rebate of sales tax up to 25 percent of project capital costs over a 10-year period. Projects must meet certain criteria to be eligible, such as having a positive economic impact for the Commonwealth, and the rebate is based on performance.
The authority gave preliminary approval to an application for tax incentives to Rare Breed Distillery LLC, which operates the Wild Turkey Distillery in Lawrenceburg. The $4 million project is an expanded visitor experience that will include a tasting room, meeting space, a lounge and kitchen. A study will be conducted before final approval is given.
The authority also approved a $250,000 small business loan to Boone Creek Properties LLC, for an adventure tourism project in southern Fayette County. The plan calls for canopy tours, unique lodging opportunities, a farmers market, hiking and mountain bike trails.
The authority also reviews applications under the Kentucky Film & Entertainment Industry Incentive Program. This incentive provides approved productions the ability to earn a refundable income tax credit equal to 20 percent of their production expenditures in the state. It applies to films, television programs, commercials, documentaries and Broadway plays slated for national tours.
The authority approved incentives for a feature film called "A Doll's House," produced by ADH Productions LLC. Shooting will take place this year and early next year between Louisville and Northern Kentucky. The production expects to spend approximately $4 million in Kentucky.
This story was posted on 2011-11-25 03:19:12
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