HomeMy WebLinkAboutNational Railway 1% rebateRESOLUTION
A RESOLUTION OF THE BOARD OF COMMISIONERS OF THE CITY OF PADUCAH,
KENTUCKY, SUPPORTING THE EXPANSION OF NATIONAL RAILWAY EQUIPMENT CO. BY REBATING THE
1% PAYROLL TAX ON CERTAIN KEDFA PROGRAM ELIGIBLE POSITIONS
WHEREAS, a strong economy is important to the City of Paducah and the region, and
the Board of Commissioners of the City of Paducah, Kentucky, strives to support expansion of local
businesses; and
WHEREAS, National Railway Equipment Co. has been a provider of new and
remanufactured locomotives, locomotive products and wheel services for over seventy years in
WHEREAS, National Railway Equipment Co. in 2012 announced plans to expand its
operations in Paducah to include new shop equipment, IT upgrades, phone systems, and building
WHEREAS, National Railway Equipment Co.'s $920,000 expansion includes at least 25
new full -time employees, with an average wage of $13.50 per hour; and
WHEREAS, in order to assist in this project, National Railway Equipment Co., is eligible
for a 1% payroll tax rebate for up to ten years, to be offered in conjunction with the Kentucky Economic
Development Finance Authority (KEDFA) program that grants forgiveness of 3% State payroll tax.
NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE CITY OF PADUCAH,
KENTUCKY, ACTING BY AND THROUGH ITS BOARD OF COMMISSIONERS AS FOLLOWS:
SECTION 1. It is hereby found, determined and declared that the statements of fact set
forth in this Resolution are true and accurate.
SECTION 2. That City of Paducah may grant a rebate of 1% payroll tax on KEDFA
program eligible positions, upon remittance of the full amount of the payroll tax due, for a period of up
to ten years to help support the expansion of National Railway Equipment Company.
SECTION 3. The adoption of this Resolution shall not be deemed to and shall not impose
any liability or responsibility, financial or otherwise, upon the City of Paducah, beyond the 1% payroll tax
rebate for a period of up to ten years.