Business
3:18 pm
Wed June 13, 2012

Incentives Approved for Amusement Park

The state of Kentucky has approved incentives up to $3.9 million over ten years for the company that wants to reopen the former Kentucky Kingdom amusement park in Louisville.

"Bluegrass Boardwalk" is the name planned for the former "Kentucky Kingdom" site. The Koch family, which operates Holiday World theme park in Santa Claus, Indiana, plans to reopen the park in 2014.

The Kentucky Tourism, Arts, and Heritage Cabinet says Bluegrass Boardwalk plans to invest $15.6 million to open the tourist attraction.  The Kentucky Tourism Development Finance Authority has now approved the incentives, and the Cabinet issued a statement that the net fiscal impact of the project is projected to be approximately $48 million over the ten year period. The Associated Press says that estimate includes a lease agreement with the Kentucky State Fair Board.