Governor Touts Success of Small Business Tax Credit Program

Gov. Andy Beshear said Tuesday the Kentucky Small Business Tax Credit program fueled the creation of 339 new jobs and the reinvestment of $3.64 million in 107 businesses throughout the past year.

The KSBTC program incentivizes companies with 50 or fewer full-time employees that hire and sustain at least one new job and purchase at least $5,000 in qualifying equipment or technology. Applicants can receive between $3,500 and $25,000 in credits annually.

The 339 new jobs incentivized through KSBTC this year had an average hourly wage of $25.89, excluding employee benefits. Business owners also purchased $3.64 million in qualifying equipment and technology vital to the expansion of business operations. The total incentive amount for 2021 – $1,167,700 – was distributed between the 107 approved applicants across 37 counties.

For more information on the Kentucky Small Business Tax Credit, visit