Ky. senate Bill could help BG

Cristen Friddell

The Kentucky Senate is trying to encourage economic development by offering tax breaks and financial incentives to new businesses.

Some Bowling Green businesses could soon be benefitting from these programs.

In October, Bando USA was approved for up to $51,000 through the Kentucky Enterprise Initiative Act, said Mike Troyer, the general manager of human resources at Bando’s Bowling Green plant.

It was also approved for up to $475,000 in additional incentive money, he said.

Bando is a company that produces power transmission belts, according to its website.

The plant came to Bowling Green in 1988, Troyer said.

He said the company has two years to decide whether or not it will increase capacity of the plant.

He said the project could create up to 15 new jobs.

Shiloh Industries recently broke ground on the Medina Blanking Inc. plant last week.

Medina manufactures metal engineered products for automobile production, according to the website.

The company was approved for up to $90,000 in incentives to help with construction.

In December 2009, the Senate passed the Kentucky Business Incentives program.

This program gives companies tax breaks if they add a minimum of 10 new full-time jobs for local residents, meet a cost limit and provide minimum wage and benefits, according to the bill.

The bill also contains the Kentucky Reinvestment Act, which gives existing businesses tax breaks and incentives if they maintain certain standards, and the Kentucky Enterprise Initiative Act, which gives companies incentives for constructions.

Commissioner Bruce Wilkerson said he’s excited about the new development in Bowling Green.

“We are bringing 60 new jobs to town,” he said, referring to Medina’s job openings.

Kentucky senator-elect Mike Wilson has some doubts about the program.

“If we reconstruct a tax system that is favorable to businesses, then we don’t have to have tax incentives to draw in businesses,” he said.

Wilson said he recognizes the program has done a good job bringing new business to the area, but he wants to make the environment more business friendly.

“I would like to move toward something more like what Tennessee has,” he said, referring to the state’s friendlier tax climate.