LOUISVILLE, Ky. The Kentucky Economic Development Finance Authority granted preliminary approval for Park Community FCU to receive as much as $160,000 in tax incentives for building a new headquarters, where it plans to consolidate offices of 75 to 80 employees now scattered in three Louisville buildings.
The tax incentives can be earned over 10 years. The incentives are conditioned on the credit union creating 20 new jobs with a total payroll of more than $900,000.
Park Community expects to invest $10.1 million in the headquarters project, a two-story, 30,000-square-foot building.
Plans call for occupancy by the end of 2014.
The $600-million credit union was chartered in 1965 to serve employees at General Electric Co.’s Appliance Park. In 2003, it became a community-charter serving a nine-county area, including Jefferson County.