Northern Kentucky Incentive Programs

Northern Kentucky Tri-ED facilitates local government participation in incentive proposals for economic development projects. This can range from local wage assessment tax credits to a customized incentive proposal from a local government in Kentucky.

Boone County Fiscal Court offers a 50% reduction in occupational license fees (i.e. "payroll tax") for up to 5 years for eligible firms. Firms are encouraged to use credits for training purposes.

The City of Covington offers a forty percent (40%) reduction in occupational license fees for certain projects locating in the Covington creating a minimum new annual payroll of $2,000,000. Covington also offers number of incentive programs for small businesses and all types of development projects - commercial and residential.

The City of Newport offers a forty percent (40%) reduction in occupational license fees for certain projects locating in the Newport, called the Job Development Incentive Program (JDIP). The JDIP is available in three variations: Industry, Service and Technology (requires $250,000 in new Newport payroll); Licensed Professionals (no minimum payroll requirement); and Signature (requires $15M in new Newport payroll).  The City of Newport also offers other incentives focused on the improvement of historic structures in the city.

The City of Wilder offers a 50% reduction in occupational license fees for up to 10 years for eligible firms creating a minimum of 200 new jobs with or annual payroll of up to $500,000.

Foreign Trade Zone

A Foreign Trade Zone (FTZ) located in Boone County offers duty-deferral savings that assist firms that import goods from foreign countries. Communities in Northern Kentucky will consider additional FTZ's for qualified projects or developments.

For additional information on Foreign Trade Zones, contact Mr. Ken Fightmaster, Director of Foreign Trade Zones, Greater Cincinnati Chamber of Commerce, 441 Vine Street, Cincinnati, OH 45202 at 513-579-3119 or kfightma@gccc.comor by accessing www.cincinnatiusa.org.