The Russell County Industrial Development Authority (RCIDA) has the expertise to work with new or expanding businesses that are seeking a new location. The RCIDA works in coordination with all federal and state funding agencies that assist in recruitment or expansion opportunities. We are committed to helping you build a successful business venture.
Russell County and Kentucky's pro-business climate provides a number of incentives for businesses. The Kentucky Economic Development Finance Authority (KEDFA) was established within the Cabinet for Economic Development to encourage economic development, business expansion, and job creation by providing financial support through an array of financial assistance and tax credit programs. Helping businesses in this way furthers the Commonwealth’s goals of achieving long-term economic growth and full employment for its citizens.
Part of Russell County is designated an Opportunity Zone with significant tax advantages to investors. Our Lake Cumberland Regional Industrial Complex Site 1 is entirely contained in the county's Opportunity Zone.
In addition to financial incentives, workforce training credits and grants can help get your business staffed with the qualified employees necessary for success.
Incentives available include:
- Kentucky Business Investment
- Kentucky Enterprise Initiative Act
- Kentucky Reinvestment Act
- Kentucky Small Business Tax Credit
- Kentucky Angel Investment Tax Credit
- KEDFA Direct Loan
- Skills Training Investment Credits
- and more.
Visit Kentucky Cabinet for Economic Development's website for a complete and up-to-date look at the financial incentives.