State grants tourism tax rebates to Kentucky Kingdom

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by NEWS RELEASE

WHAS11.com

Posted on April 10, 2013 at 6:11 PM

Updated Wednesday, Apr 10 at 10:02 PM

LOUISVILLE, Ky. (WHAS11) -- After sitting vacant for nearly four years, it looks like the old Kentucky Kingdom theme park will finally be brought back to life.

Today, the Kentucky Tourism Development Finance Authority unanimously approved up to $10 Million in sales tax rebates over the next decade.

That investment is expected to bring nearly$420 Million in tourism dollars and more than 400 permanent jobs to the state.

The decision by the board was necessary for Kentucky Kingdom operator Ed Hart to receive financing to complete the project.

Kentucky Kingdom, which was originally operated by Hart, was abandoned after Six Flags pulled out in 2009, leaving existing structures to rot.

Last year, a deal to reopen the park under the name Bluegrass Boardwalk fell through.

The same consultant who prepared studies for the tourism board for that project believes the latest proposal is much stronger.


 

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