Tax Increment Financing? Yes! Kentucky Economic Development Finance Authority (KEDFA) in a special meeting in January preliminarily approved the company for tax incentives up to $8.5 million through the Kentucky Business Investment program.
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The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits & wage assessments by meeting job and investment targets. Additionally, KEDFA approved Novelis for up to $3 million in tax incentives
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.... through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
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Boy this little gnome McCONNELL HAS MOVED JUST ABOUT EVERYTHING HE COULD TO KENTUCKY,U WOULDTHINKTHEY WERE THEONLY STATE IN THE UNION! NEXT STOP HE WILL MOVE THE WH!
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Hey! The facility in Guthrie will create about 125 jobs and have capacity of 200,000 metric tons. Novelis, the U.S. unit of Hindalco Industries Ltd., expects to complete the project by 2020 as its Indian billionaire owner Kumar Mangalam Birla expands his overseas operations.
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