Eddyville, October 26, 2016: The Moonshine, Beer & BBQ Co., located in Eddyville, Ky., recently received qualification as a Qualified Small Business under the Kentucky Angel Investment Act. The Kentucky Economic Development Finance Authority notified the company on October 25th that their application had been approved by the board. “This is a large opportunity for the community,” explains Daniel Thompson, President and CEO of Moonshine, Beer & BBQ Co., “We have been in discussions with the Kentucky Department of Travel & Tourism and the Kentucky Cabinet for Economic Development, exploring Commonwealth incentives for community development.”
This allows for Moonshine, Beer & BBQ Co. to attract potential investments from Qualified Investors. Those investors may be eligible to receive a tax credit based on a percentage of the investment amount. With Lyon County being certified as an Enhanced Incentive County, investors can receive up to 50 percent of an investment of $10,000 or more as a tax credit. “These incentives will invite more investors to this project that is intended to bring numerous jobs and revitalize our consumer traffic” added Thompson.
Investors interested in the Kentucky Angel Investment Tax Credit must also be approved by the KEDFA board. Applications for Qualified Investments for 2017 will be accepted beginning December 12, 2016. Once investments are approved by the KEDFA, investors have 60 days to transfer the investment to the Qualified Small Business. Once Moonshine, Beer & BBQ Co. receives an investment, they must file a report with the Kentucky Cabinet for Economic Development for five years.