Tourism, Arts and Heritage Cabinet
Kentucky Kingdom Approved For Incentives by Tourism Development Finance Authority
LOUISVILLE, Ky. – The Kentucky Tourism Development Finance Authority today approved incentives for a $15 million expansion project at Kentucky Kingdom amusement park in Louisville.
Kentucky Kingdom plans to add new rides and expand its water park as part of the project. The park will be eligible for up to $3.75 million over 10 years in tax rebates.
A report on Kentucky Kingdom’s application found that it met the requirements necessary to receive incentives. This includes meeting a minimum expenditure requirement, being open more than 100 days a year, attracting at least 25 percent of visitors from outside the state by its fourth year of operation and having a positive net economic impact on the Kentucky economy.
The authority also gave preliminary approval to Maker’s Mark Distillery for a visitor center it plans to build in Loretto for its Maker’s 46 brand. The $4 million project could be eligible for as much as a $1 million tax rebate over 10 years. A study will now be conducted to see if the application meets all of the requirements.
The authority considers applications under the Kentucky Tourism Development Act, which allows eligible tourism attractions a rebate of sales tax up to 25 percent of project capital costs.