{"data":{"id":"us-ky/krs-154.25-020","jurisdiction":"us-ky","citation":"KRS 154.25-020","heading":"Criteria for approval of eligible companies and job retention projects --","body":"Preliminary approval.\n(1) The criteria for approval of eligible companies and jobs retention projects shall\ninclude but not be limited to:\n(a) The need for the project, as in dicated by the impact of the existing facility\nupon the local community and the economic and employment impact that the\nloss of the facility would have;\n(b) The new capital investment in its facilities and the likelihood that the capital\ninvestment will in crease potential for sustainability of its workforce and\nfacilities in the future; and\n(c) The retention or creation of employment at the facility where the jobs\nretention project will occur as well as any other facilities owned by the\napproved company in the Commonwealth.\n(2) With respect to each eligible company making an application to the authority for\ninducements, and with respect to the economic development project described in the\napplication, the authority shall request materials and make inquiries of the applicant\nas necessary or appropriate. Upon review of the application and completion of\ninitial inquiries, the authority may, by resolution, give its preliminary approval by\ndesignating an eligible company as a preliminarily approved company and\nauthorizing the undertaking of the jobs retention project. The authority and the\npreliminarily approved company shall enter into a memorandum of agreement that\nsets forth the conditions necessary for the company to obtain final approval of the\nproject. Upon s atisfaction of the conditions set forth in the memorandum of\nagreement, the authority may, by resolution, designate the preliminarily approved\ncompany to be an approved company and authorize the execution of a jobs retention\nagreement.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2791","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:55Z","sha256":"98466d0638c5200c74e3a56c10c630470af7b5f50de28603fa2d500b26e40855","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.25-010","next":"us-ky/krs-154.25-030"},"notice":"GroundRules: Original legal text. Not legal advice."}