Southeast Kentucky Chamber Hosts Lunch & Learn with Kentucky Innovation’s Kristine McNiel

PIKEVILLE, KY (March 20, 2024) – The Southeast Kentucky Chamber of Commerce hosted its most recent Lunch & Learn on Tuesday, March 12, 2024 featuring guest speaker, Kristine McNiel, Project Manager for Kentucky Innovation with the Kentucky Cabinet for Economic Development.

The Cabinet for Economic Development is the state agency responsible for encouraging job creation and retention, and new investment in the state, and the primary point of contact for businesses operating in Kentucky. They are super collaborators working alongside companies, state, regional and local economic development organizations, all levels of government, utility providers, colleges/universities and many other partners. The Cabinet for Economic Development assists businesses with all facets of their organization.

Kristine gave a presentation about how local businesses may qualify for small business tax credits that will help develop jobs and economic growth in the region. These small business tax credits are available to all eligible for-profit businesses with 50 or fewer full-time employees. It is a non-refundable tax credit for businesses creating at least one full-time (W-2) job and investing $5,000 or more in qualifying equipment or technology. Tax credits can range from $3,500 to $25,000 per calendar year per applicant business. Authorized through the American Rescue Plan Act of 2021 and administered by the U.S. Department of Treasury, the program will provide $117 million over the next 10 years to expand capital access for Kentucky businesses. Kentucky has allocated funding to both loan and venture capital programs.

“We’re grateful to Kristine for speaking for us,” said Southeast Kentucky Chamber President & CEO, Jordan Gibson. “Building up businesses and incentivizing their growth is paramount to the success of this region, and we’re glad that Kristine shared her knowledge about these programs.”

For more information about how your business can apply for the Small Business Tax Credit, please visit www.ced.ky.gov/Entrepreneurship/KSBTC or www.kytaxcredit.org. You can also request more information by emailing info@kyinnovation.com or by calling 800-626-2930.

The Southeast Kentucky Chamber of Commerce is located at 178 College Street in Pikeville and serves more than 500 businesses in eight Eastern Kentucky Counties: Floyd, Johnson, Knott, Lawrence, Letcher, Magoffin, Martin, and Pike. The Chamber’s mission is to serve the businesses of Southeastern Kentucky through a commitment to networking, advocacy, education, and collaboration as we partner together to enhance the business climate in our region.