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Archive for March, 2012

Adventure Travel in Kentucky

Friday, March 23rd, 2012

Kentucky Lake area is an adventurers dream location it is one of the largest man made lakes in the country. Surrounded by forest with over 2000 miles of shoreline this area is best visited by boat. The land between the lakes is best for hiking into the woods. Woodland Walk is a one mile hike around Honker Lake and a great place to have a picnic. You can take a scenic drive through the Lakes Elk and Bison Prairie and get up close and personal views of the bison. Wild life in the area includes Bison, elk, coyote, bald eagles and a variety of birds.

Traveling Lexington on to Bardstown one of the top 10 adventure cities according to National Geographic Magazine. These towns are part of the Bourbon Trail. Bardstown is the location of the Heaven Hill Bourbon Heritage Center. Here you can find out all about tours and the history of the area. The Wild Turkey facility is located in Lawrenceburg, Kentucky. In this small area of Kentucky you can sample some of the best bourbon in the world.

Mammoth Cave National Park adventure here and you can canoe on the Green and Nolin Rivers for more than 30 miles. Mammoth Cave is called that because it has over 325 miles of cave that needs to be explored. You can’t just venture in by yourself, the park service offers guided tours daily. There are many hiking trails where you can go off on your own. The trails range from 1 mile to 3 miles. Pick one of the longer trails and you can get lost from the crowds easily.

Red River Gorge National Geological Area is a great place to start an adventure in Kentucky. The area has more 80 natural arches and a 36 mile drive looping tour in the area. You will be able to pick from over a hundred miles of hiking trails and get into the backwoods of Kentucky.

Investments for Project Financing in Kentucky

Friday, March 23rd, 2012

When undergoing financial due diligence for a start-up project within the Commonwealth of Kentucky, the potential for the United States Immigrant Investor Program, or the “EB-5″ visa, should be considered along with an economic incentive package administered by the Kentucky Cabinet for Economic Development (the “Cabinet”) through its development agency, the Kentucky Economic Development Finance Authority (“KEDFA”).

Any start-up project within the Commonwealth of Kentucky should seek an economic incentive package through the Cabinet. Such packages can be in the form of industrial revenue bonds, tax increment financing or tax abatement incentives. Generally, new facilities with at least $100,000 U.S. in eligible costs and creating a minimum of ten new full-time jobs for Kentucky residents may qualify for the generous tax breaks. Such tax abatements can be in the form of a reduction in state payroll withholdings for the approved projects or tax credits for Kentucky sourced income tax. The Kentucky Business Investment Act (“KBIA”) sets forth certain other minimum requirements such as minimum employee benefits for the project’s employees.

The employee benefits definition is “non-mandated payments by an approved company for its full-time employees for health insurance, life insurance, dental insurance, vision insurance, defined benefits, 401(k), or similar plans.” To qualify for the KBIA incentives administered by KEDFA, an application showing the company information, project details including lease or land/building costs, equipments costs and employee information must be submitted. Such application should be optimized in order to gain the highest possible tax incentives. If a company commits to establishing a project within the Commonwealth of Kentucky prior to being an approved project company within the state, then such company may be ineligible for the tax incentive benefits offered by the Cabinet. The KBIA is fundamentally an inducement to attract new investments to Kentucky.

Any new start-up project within the Commonwealth of Kentucky should examine the feasibility of utilizing EB-5 Visa dollars in combination with the best possible tax incentive package. Since it is currently difficult for companies to access conventional financing, EB-5 investors may be the source of bridge financing to get needed projects launched.