In this case, "Kentucky Economic Development" paid two companies to stay put. Hell, why can't individuals get in on this game....lets demand a tax breaks on our property taxes before we will build a house. If this is good for corporations, it ought to be good for home buyers.
LEXINGTON, Ky. (AP) - Kentucky has given the new owner of the Long John Silver's and A&W restaurants tax incentives to place its headquarters in Lexington once a purchase from Louisville-based Yum Brands is completed later this month.
The Kentucky Economic Development Finance Authority on Thursday approved state tax incentives for the ownership, which estimated costs of $1.89 million for the location in Lexington. Assuming the company hires 30 people within 10 years, the tax incentive deal will allow it to keep $600,000 that it would otherwise pay in taxes.
Kevin Bazner, who heads the company buying A&W Restaurants, told the Lexington Herald-Leader that the company could potentially double its employee base to 60 in Lexington in the next five years.