Kentucky officials announce 12,431 BTC of new project investments \ stacker news ~Construction_and

USD/BTC = $96,531 Block 877,527

Kentucky Gov. Andy Beshear has announced approximately $1.2 billion in potential new project investments across the commonwealth.

The largest is a $922 million advanced paint facility built by Toyota Motor Manufacturing Kentucky at its existing plant in Georgetown, Kentucky.

Toyota’s new facility is scheduled to open in 2027.

In exchange for its investment, the Kentucky Economic Development Finance Authority has entered into a performance-based agreement with Toyota that could see the company receive as much as $267.5 million of tax incentives.

Ahh yes more tax breaks for the multibillion dollar company.

Other Kentucky capital investment announcements were:

Chick-fil-A Supply will build a $100 million, 270,000-square-foot distribution center in Elsmere, Kentucky;
Greenville Manufacturing Kentucky – agriculture, forest products and biomass equipment manufacturer – will invest $16.2 million for relocation to Muhlenberg County, construction of additional space and the purchase of equipment;
High-density polyethylene structure maker ISCO Industries Inc. is investing almost $12.8 million to build a new facility in Louisville;
Avionics design, consulting, manufacturing and engineering company L2 Aviation will invest $12.2 million to relocate an office, production facility and hangar to a site at Cincinnati/Northern Kentucky International Airport in Boone County;
Precision-machine products company Whelan Machine & Tool will invest $5.7 million on an expansion in Louisville; Dan-O’s Seasoning LLC plans to invest $4.7 million in new office space and a test kitchen in Louisville.

152 sats \ 1 reply \ @Satosora 5 Jan

The part I dont understand about these tax breaks are if the states actually earn anything back from them? At the end of the day, Toyota will be able to keep that land, the plant, and make profit from it. The state will only get some taxes if Toyota makes a profit, and in this day and age, everything can be subtracted from your profit to make you look like you are having a loss every year. Hence why big companies dont have a large tax burden.

0 sats \ 0 replies \ @BlokchainB OP 5 Jan

Well politicians can puff their chest out and brag about how many jobs they brought to their district.

But what they wish to accomplish is growth in their economies while Toyota gets massive benefits the people who are employed there can now possibly buy things like goods, services, and property and that is where the state will capture its return on the tax break