Incentives & Perks
The benefits of building at Lampton Commons are not limited to its beautiful locale, high traffic placement and thriving economy. Thanks to the business-friendly local government's efforts to make opening a company in the area as easy as possible, it also has an impressive list of incentives and perks.
Tax Increment Financing (TIF)
Hopkinsville is dedicated to strengthening local businesses and economic development. To do this, the city is proud to provide special Tax Increment Financing (TIF) options, which include rebates and reimbursements for companies who choose to build their business location in Lampton Commons.
TIF options make Lampton Commons the smart choice for company growth. It can reduce your costs and allows for easier building and development of your location.
Work Ready Community
Growing a business not only requires the perfect location, but a workforce of highly-skilled employees to achieve your company's goals. Through an intensive application process based on six successful economic and industry criteria, Hopkinsville is certified as a Work Ready Community in Progress by the Kentucky Workforce Investment Board (KWIB).
This demonstrates the city's strong commitment to education and professional development to ensure the highest quality in the local workforce.
Spending Power
Hopkinsville offers a variety of perks to its citizens that lower the cost of living. What does this mean for your business? Increased disposable income and spending power that you won't find anywhere else.
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No sales tax on groceries
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Low state income tax rate of 5%
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Housing expenses 30% below national average
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Low property taxes versus surrounding cities
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Spendable income of active/retired military increased by state tax benefits
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Projected 20% average household income increase in the next five years
Federal Opportunity Zone Tax Incentives
Thanks to a special federal designation as a qualified opportunity zone, Lampton Commons has even more financial incentives to invest and build in our fast-growing area.
For additional information on these federal tax incentives, please visit irs.gov.