Corbin's ideal location, productive workforce, low operating costs and a pro-business economic environment are among the most compelling reasons to Consider Corbin.
Our Corbin Economic Development Agency team will work diligently to make your business venture in Corbin a success. We can supply any information you may need on the state and local incentives available to assist your company in relocating or expanding your operations into Southeastern Kentucky.
Financial packages are available to qualifying companies to ease the cost of start up or expanded operations through the Kentucky Cabinet for Economic Development. Local incentives are also available through our county and city governments along with a federal enterprise zone program.
For More Information About Economic Development in our Community, Contact:
Bruce Carpenter, Director
Corbin Economic Development Agency
101 North Depot Street
Corbin, KY 40701
(606) 528-6390
Email: becarpenter@corbinky.org
To learn more about Corbin Advantages, select from the following categories...
Customer service in a cost efficient and timely manner is the bottom line factor in the ultimate success of any business. Location makes Corbin a desirable site for manufacturing, distribution and technology based companies.
Interstate 75, a north/south expressway provides ideal access to those market areas. An east/west expressway, Interstate 66, will intersect Interstate 75 just north of Corbin, further facilitating your ability to service your customers in a timely manner.
Corbin provides access to two major airports (Blue Grass Airport in Lexington, KY and McGhee Tyson Airport in Knoxville, TN) and the London-Corbin local airport is only 15 miles north of our industrial park which can accomidate small corporate jets and aircraft.
State and Local Incentive Programs
Generous financial incentives are available in the form of tax credits, job assessment fees, training grants and revenue bonds. Millions of dollars are budgeted annually and are available to qualifying companies. Application eligibility is determined by the Kentucky Cabinet for Economic Development.
Kentucky's pro business climate provides a number of incentives for businesses. The Kentucky Economic Development Finance Authority (KEDFA) was established within the Cabinet for Economic Development to encourage economic development, business expansion, and job creation by providing financial support through an array of financial assistance and tax credit programs. Helping businesses in this way furthers the Commonwealth's goals of achieving long-term economic growth and full employment for its citizens.
KEDFA approval is required for participation in the loan and tax incentive programs, except the Skills Training Investment credits, which are approved by the Bluegrass State Skills Corporation. KEDFA meets the last Thursday of each month. Projects must be received by the last Friday of the month prior to the KEDFA meeting date in order to be considered.
To find out if your business qualifies, contact the program representative, one of the three Regional Offices, or the East Kentucky Economic Development Division (e-mail link) where a professional economic development agent will be assigned to work with you. Your agent can answer your questions and guide you through the application and approval processes.
Located just three miles from I-75, a major north/south expressway, are two outstanding industrial parks with sites available to suit your expansion needs. The Southeast Kentucky Regional Business Park contains 600 scenic acres bordering on the Corbin By-Pass. The Tri-County Industrial Park has 197 acres available, and is also on the Corbin By Pass, just off I-75.
Both business parks are located in Knox County, which is one of Kentucky's ten designated Enterprise Zones. Tax incentives and regulatory relief are offered in the Knox County Enterprise Zone to stimulate economic growth, with the program administered by the Knox County Fiscal Court. Financial incentives available include use and sales tax exemptions for building materials used during construction or remodeling; new and used equipment purchases, including office equipment; and motor vehicles used for business purposes.
Paramount to the success of your business is the ability to service your customers in a cost effective, timely manner. With our strategic location near a major expressway, rail service available through CSX Transportation, low cost utilities, and an available productive workforce, locating in Corbin will enable you to maintain the quality of customer satisifaction that is a hallmark of success.
Competitive Utility Rates
Kentucky's Industrial Power costs are over 12% lower than any other state east of the Mississippi River, and over a third lower than the national average according to the US Energy Information Administration, for the fifth straight year.
Over 90% of Electric service in Corbin is provided by Kentucky Utilities, Cumberland Valley Rural Electric, and the Corbin City Utilities Commission. Service to meet your production requirements is readily available.
Our Southeast Kentucky workforce outperforms the national average in gross product per wage. Twenty technical schools are located within 60 miles of Corbin, and programs can be developed to meet your individual training requirements for employees.
Corbin Independent Schools have consistently ranked in the top 10% statewide and have been recognized nationally for innovative educational programs. Eastern Kentucky University has a campus in Corbin, less than one mile from our business park. Union College and University of the Cumberlands are located within 17 miles of Corbin.
Baptist Regional Medical Center, a part of Baptist Healthcare Systems, is located in Corbin, with a staff of 1200 qualified individuals. This 240 bed facility has both an acute and behavioral science program within its campus, and was awarded the first Governor's Gold Cup for Excellence.
