A Kentucky House panel has reviewed state tax credits tied to private investments for businesses in the Commonwealth. A leading state economic official also spoke of future business growth in eastern Kentucky.
The agenda item pointed to discussion about the so called “angel” investor program, and modifications found in legislation filed this session.
But, Prestonsburg Representative Larry Brown, noting coal job losses in eastern Kentucky, asked about future investment possibilities. Economic Development Cabinet Secretary Terry Gill says the Ener Blue battery plant coming to Pikeville could create spinoff jobs. “We believe that is that anchor company that is going to move into the region and based on their initial investment will create a supply chain that will support their business,” said Gill.
Pike County Representative Chris Harris asked for ‘report card’ type information regarding state tax breaks. He cited a previous Pew study which stated Kentucky trailed national other states in the area of incentive accountability.