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Local authorities decided to give tax breaks to miners. Despite the potential loss of funds, they expect a general recovery in the region's economy
Nineteen members of the Kentucky House Of Representatives Budget Committee voted in favor, and two voted against. So, soon the tax relief will come into force.
According to the decision, miners will be able to receive tax exemptions. And while the state could lose up to $9million annually, the benefits of attracting technology companies offset those losses.
On Tuesday, a similar decision on Bill 372 was made for data centers. Soon, tax breaks will be granted to big companies such as Amazon, Facebook and Google. As well as many others who can open their offices in Kentucky and create hundreds of jobs.
The program is designed for 30 years. Companies can participate in it, which can create at least two dozen permanent jobs and build a data center for at least $150 million over a five-year period.