FRANKFORT, Ky. (Jan. 25, 2018) –The Kentucky Economic Development Finance Authority (KEDFA) at its monthly meeting Thursday approved tax incentives for a planned new headquarters for Louisville-based health and human services provider ResCare. The expected cost of the project is $18.95 million.
ResCare’s headquarters employs 340 and is the support center for its more than 45,000 employees in 42 states, including 1,900 in Kentucky. In that role, its operations advance the company’s mission to help people live their best lives through innovative programs, products and caregiving services.
As the largest diversified health and human services provider in the US, ResCare is working to lead the future of service and care for governments and community health across numerous high-need populations. It provides home care, services to people with disabilities, specialized high-acuity neuro-rehab in community settings, and career-center workforce services. ResCare also offers integrated care services including pharmacy, behavioral health and telecare.
To encourage the investment and job growth in the community, KEDFA preliminarily approved ResCare for tax incentives up to $500,000 if the company retains more than 310 of its employees in it’s headquarters each year through 2022. For each job under the threshold not maintained a $323 job penalty provision will be assessed.
Additionally, KEDFA in September approved ResCare for up to $550,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
For more information on ResCare visit www.ResCare.com.