Tuesday, August 8, 2017

Ark Encounter moves property back to for-profit to save tax incentives

By Scott Wartman

Faced with losing $18 million in tax incentives, the Ark Encounter operators sold the ark property back to their for-profit entity on Monday. This will likely mean the state will restore the tax incentives for the Noah's Ark-themed attraction in Grant County, a rural county about a 45-minute drive south from Cincinnati. Kentucky halted the Ark Encounter's tax incentives last week when tourism officials determined the attraction breached its agreement with the state after its ownership changed to nonprofit. This property maneuver has happened while the Ark Encounter and city of Williamstown feud over a 50-cent safety fee. [More]