HEBRON, Ky. -- Boone County Judge Executive Gary Moore wants corporations to know that “CVG is open for business.”
In an effort to draw in more business to The Cincinnati/Northern Kentucky International Airport, Moore is eliminating property taxes on non-commercial aircraft in Boone County taxing districts.
“We want to be competitive with Ohio… level the playing field,” said Moore about airports like Clermont and Lunken who do not tax non-commercial aircraft.
Moore also said that he hopes this new lack of taxing will attract corporations who may want to also set up shop on nearby CVG land as well.
While the county will be losing out on the $30,000 that they currently earn from these taxes, he said it’s a good investment and will help the airport—increasing jobs and property taxes coming in from buildings and infrastructure when corporations take up residence at CVG.
“We must work smarter—that’s what we’re doing and continue to do,” said Moore at the Northern Kentucky Chamber of Commerce’s Eggs n’ Issues Tuesday.
The airport is recreating itself, said Moore, and looking for more revenue sources.
“It’s perfect timing,” he said.
CVG CEO Candace McGraw is eager for this welcomed change.
“The elimination of the property tax on non-commercial aircraft allows CVG to be more competitive,” said McGraw. “This action keeps businesses at the airport and allows for future growth.”
He said he plans to offer this publicly to businesses within the next couple of weeks.