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Beshear said in a news release that he wants to updatethe state’sd “antiquated” economic incentives toolbox to help existint Kentucky companies interested in expanding facilities or adding He also proposed creating a tax-credit program for smalk businesses. The bulk of the incentives and benefits proposed would be used to supporty companies already doing businessin Kentucky. The governore said he also hopes to amendthe state’ s Tourism Development Act to help attracyt a Sprint Cup Series race to the in Ky.
Beshear, who Thursda y said he is drafting legislation that would alloa video lottery terminals atthe state’s horser racing tracks, said Friday that he also wants to expan d an existing tax exemption that woulds improve Kentucky’s chances at holding futur Breeders’ Cup World Championships horsee races. The governor also wants the General Assemblyh to approve a resolution that would alloqw the state to transfer orlease 1,550 acred of land it owns in Glendale, Ky., to a consortium of companies, associations and research institutions that want to establish a proposexd $600 million plant that would make lithium-ion batteryy cells for vehicles.
Another matter on Beshear’s agenda is one that’s closew to the hearts of many in Louisville and SouthernIndiana — the Ohio River Bridgex Project. Beshear said in the release that he want to work with the General Assembly to create a fundintg mechanism that would provide the money needesdfor “mega-transportation” projects such as the planne construction of two spans across the Ohio River betweenm Louisville and Southern Indiana, and the reconfiguration of “Spaghetti Junction,” the junction near downtown Louisville where Interstates 64, 65, and 71 meet. The speciakl session of the General Assembly is scheduled to begin at noon on June 15.
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