Our mission at Bowling Green Economic Development is to enrich the community through service, creativity, and collaboration. Our dedicated team is committed to maximizing local and state incentive programs to ensure every opportunity is pursued. Bowling Green offers a unique team of dedicated staff who walk hand-in-hand with your company to create an incentive package unique to your needs.
The following incentives may be available to your company based on project details. Please contact our office for applications.
Real Estate Tax Abatement
Community Reinvestment Areas provide a ten-year real estate tax abatement on improvements to the property. Abatement can be requested for the construction of a new building or the improvement of the existing building through remodeling or an addition. Abatement cannot be requested for improvements to other parts of the property such as paving, fencing, landscaping, etc.
Economic Development Electric Rate Rider
The City of Bowling Green provides a competitively priced and highly reliable electric service. Bowling Green offers an Economic Development Electric Rate Rider to all new and existing customers that increase KWH energy usage. The ED Rider offers a discount in the first four years of electric service at 35%, 25%, 15%, and 10% off the KWH energy rate. As a Bowling Green customer, you will also enjoy a highly reliable electric service that has been recognized by the American Public Power Association as a Reliable Public Power Provider (RP3) and awarded the Certificate of Excellence in Reliability.
Efficiency Smart Program
A free Efficiency Smart Program that provides energy efficiency consultation and potential rebates for completed efficiency recommendations.
Energy Efficiency Revolving Loan Program
This EERLF loan is available to private for-profit enterprises. The loan is focused on eligible companies seeking to proceed with projects centered on the procurement of more energy-efficient depreciable assets. Loan amounts will be considered for up to 50% of the total cost of the energy-efficient project. The interest rate and terms of the loan will be 0% over the life of the loan.
City of Bowling Green Revolving Loan Program
The City’s Revolving Loan Fund (RLF) provides loans to businesses for start-ups and expansions which result in more jobs for low- and moderate-income persons. The RLF is used to supplement private funding for businesses. Recipients of the funds are required to generate a FTE job for a low- or moderate-income person for each $35,000 loaned. The program helps to reduce the incidence of poverty in the City by supporting job growth. There are special qualifications for loans to businesses in the Downtown Special Improvement District. The source of funds for these loans is the City of Bowling Green’s CDBG entitlement grant funds.
The interest rate on the RLF loans is 2/3 of the prime rate. Loan terms are 3-5 years.
For information about RLF loans, please contact the City at 419-354-6203 or email@example.com.
Additional local incentives may be available for new and existing businesses based on project specifications. Please contact our office for applications.