Kentucky continues to rank in the middle-of-the-pack when it comes to having a business-friendly tax climate. The 2014 study, released Wednesday by the non-partisan Tax Foundation in Washington takes into account the corporate tax rate, individual income tax, sales tax, unemployment insurance tax and property tax rate.
Kentucky’s ranking dropped from 24th in the nation last year to 27th this year. The study finds Kentucky’s tax code didn’t change that much, but the ranking reflects changes in states with similar numbers.
Meantime, Indiana ranked 10th in the nation for best business tax climate – earning high marks for low property taxes. Tennessee ranked 15th thanks in part of a low individual income tax.
A new hotel is being called a bridge that will bring WKU and downtown Bowling Green closer together.
City and university leaders Tuesday announced that a 108-room Hyatt Place hotel will be built adjacent to the WKU Augustein Alumni Center. Construction on the four-story building will start this fall, with a scheduled opening in fall of 2014.
WKU President Gary Ransdell described the effort as a "cornerstone" that will help unite the school's campus and the city's downtown.
"This is what begins to marry Western Kentucky University--our physical campus--with downtown Bowling Green. This project is going to be the bridge which begins to bring these two very important variables in our community together."
The hotel will be owned by Dellisart Wellspring, LLC, the same group behind the Staybridge Suites Hotel in Bowling Green at the intersection of Nashville Road and Campbell Lane.
A company that aims to manufacture steel tubes for the energy industry is expanding its operations and employment in Hopkinsville.
PTC Seemless Tube Corporation announced Thursday that it plans to create nearly 300 jobs and invest over $100 million in a new manufacturing facility. It’s a return to the Hopkinsville area for the company, which previously closed its Christian County facility in order to move closer to its customer base.
PTC Seemless now says it wants to return to the region by retrofitting and expanding its former facility. The new manufacturing operation will involve 256,000 square feet of building area.
The Kentucky Economic Development Finance Authority has given preliminary approval for $12 million in tax incentives for the project.
A German-based auto parts manufacturer is investing $29 million dollars in Russell County – meaning more than 150 jobs are coming to the Russell Springs area. Representatives for Dr. Schneider Automotive Systems took part in a special welcoming ceremony in Russell Springs.
The event was attended by Kentucky Gov. Steve Beshear.
Russell County Judge-Executive Gary Robertson says the company will be moving into the Hitachi Cable plant that closed down in 2007.
“That plant is pretty much work-ready,” said Robertson. They are having to do a few renovations to some flooring, but [the plant] was already available.”
Robertson says the new operation will provide jobs for those already in Russell County and bring in new residents.