Amendment to Kentucky Jobs Retention Act to Encourage Investment, Job Creation in Commonwealth's Auto Industry
The Fourth of July is upon those of us who wave Old Glory while eating some grilled chicken marinated in Ale-8-One, drinking some fine Kentucky bourbon (straight or as a mint julep), doing a burnout in our Corvettes, and setting off a bunch of firecrackers, sparklers and cherry bombs for our amusement.
Oh, and celebrating freedom from the British, too.
Speaking of Kentucky’s numerous industries, Governor Steve Beshear (D-KY) announced in a press release today his signing of a bill that would encourage job creation and heavy investments in the commonwealth’s automotive and parts industries. The bill, filed by Representative Larry Clark (D-Louisville), is an amendment to the 2007 Kentucky Jobs Retention Act. As a result of the amendment, auto manufacturers and those who make the parts for all of those Camrys, Corvettes and Escapes will have greater freedom in seeking incentives regardless of location in Kentucky, home of 440 automotive-related industries and 68,100 people, the third highest in the nation in terms of automotive-related employment as a percentage of overall employment.
“Given the success Kentucky has seen from the incentive package the General Assembly offered to Ford in 2007, it was only natural to extend this deal to the state’s other assembly plants and large auto parts suppliers,” said Rep. Clark. “My hope is that they will all take advantage of it the way Ford has, because it has the potential to generate thousands of new jobs and hundreds of millions of dollars of investment. Such a move would further solidify Kentucky’s already strong standing nationally and internationally in the automotive industry.”
The amendment will go into effect July 12th, and will not impact the state budget for the 2013-2014 fiscal year.
Seattle-based writer, blogger, and photographer for many a publication. Born in Louisville. Raised in Kansas. Where I lay my head is home.
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Tax incentives for companies to start up or relocate or even stay are here to stay. You have two options: 1. Deal With It. 2. Vote the rascals out. The ugly realities are: Companies will do what is best for them, Politicians will do whatever makes them look good/get reelected. I think most of us find the double barrel shotgun of greed and avarice disgusting.
Oh, and it's "Lew-ah-vill".