Kentucky Industrial Revitilization Act (KIRA)

The Kentucky Industrial Revitalization Act (KIRA) provides tax incentives to manufacturing companies that are in imminent danger of permanently closing or that have temporarily closed, and retains or creates 25 jobs.

Companies may receive state income tax credits, Kentucky Corporation License Fee credits, and job assessment fees for up to 10 years limited to 75% of the costs of the rehabilitation or construction of buildings and the refurbishing or purchasing of machinery and equipment.

Benefits include the retention of up to 5% of the gross wages of the each new or retained employee whose job was saved or created by the project.