The Russell County Industrial Development Authority (RCIDA) has the expertise to work with new or expanding businesses that are seeking a new location. The RCIDA works in coordination with all federal and state funding agencies that assist in recruitment or expansion opportunities. We are committed to helping you build a successful business venture.
Russell County and Kentucky's pro-business climate provides a number of incentives for businesses. The Kentucky Economic Development Finance Authority (KEDFA) was established within the Cabinet for Economic Development to encourage economic development, business expansion, and job creation by providing financial support through an array of financial assistance and tax credit programs. Helping businesses in this way furthers the Commonwealth’s goals of achieving long-term economic growth and full employment for its citizens.
Part of Russell County is designated an Opportunity Zone with significant tax advantages to investors. Our Lake Cumberland Regional Industrial Complex Site 1 is entirely contained in the county's Opportunity Zone.
In addition to financial incentives, workforce training credits and grants can help get your business staffed with the qualified employees necessary for success.
Incentives available include:
- Kentucky Business Investment
- Kentucky Enterprise Initiative Act
- Kentucky Reinvestment Act
- Kentucky Small Business Tax Credit
- Kentucky Angel Investment Tax Credit
- KEDFA Direct Loan
- Skills Training Investment Credits
- Grant-In-Aid
- and more.
Visit Kentucky Cabinet for Economic Development's website for a complete and up-to-date look at the financial incentives.
A Kentucky Opportunity Zone is a low-income U.S. Census tract that encourages individuals and corporations to invest in a variety of economic development projects through “Opportunity Funds”. Opportunity Zones were created by Congress to encourage long-term investments in low income urban and rural communities nationwide. The long-term objective of the Opportunity Zone program is to build wealth in communities that need it most and to save money for participating investors by reducing their federal capital gains taxes.
The Lake Cumberland Regional Industrial Complex Site 1 is entirely located within Russell County's Opportunity Zone. The RCIDA can help you with additional incentives for locating your business or industry in Russell County.
Learn more about Kentucky Opportunity Zones
Tax Benefits of Opportunity Zones
Lower Electricity Rates
Both Kentucky Utilities and South Kentucky RECC provide power at industrial rates among the least expensive in the U.S. and less than a third of the rates of many European countries. PPL (Kentucky Utilities) serves Russell Springs, Jamestown, and parts of Russell County. The remainder of Russell County is served by South Kentucky Rural Electric Cooperative Corporation, and power is sourced from East Kentucky Power.
ELECTRIC POWER COST / CENTS PER KILOWATT-HOUR*
| STATE | INDUSTRIAL |
| Kentucky | 5.65 |
| Alabama | 6.67 |
| Arkansas | 6.22 |
| Georgia | 6.75 |
| Illinois | 7.17 |
| Indiana | 7.08 |
| Michigan | 7.76 |
| Mississippi | 6.20 |
| Missouri | 8.07 |
| North Carolina | 5.98 |
| Ohio | 6.50 |
| South Carolina | 6.02 |
| Tennessee | 5.57 |
| Virginia | 6.23 |
| West Virginia | 6.09 |
| United States | 7.27 |
| *U.S. Energy Information Administration, June 2021 | |
Gigabit Broadband Service
Russell County has a 100 percent fiber-optic infrastructure which provides nearly unlimited data capacity for businesses and industries with those requirements. DUO Broadband provides telephone, digital TV, high-speed Internet, and wireless services to Jamestown, Russell Springs, and Russell County. The cooperative has invested in the fiber optic loop to bring high-speed digital capabilities to all areas of our region. DUO Broadband has worked with local industries to develop the needed capabilities that make Russell County technologically competitive with more urban locations across the state and across America. Learn more...
Affordable Natural Gas Supply
Lake Cumberland Gas Authority serves Jamestown, Russell Springs and parts of Russell County with natural gas service. The source of gas supply is Somerset Gas System.
Massive Water Capacity
Jamestown Water Treatment Plant serves our county with a potential capacity of 7.5 million gallons of fresh water per day, far in excess of current demand. This capacity (along with the high wastewater capacity) is a primary reason that Lake Cumberland Regional Industrial Complex Site 1 earned the certification of Food & Beverage Shovel-Ready. There is no set limit on the amount of water that can be purchased.
Learn more about our community-owned water plant and its massive capacity.
Wasterwater Treatment Plant
The Russell County Wastewater Treatment Plant serves all of Russell County. The regional wastewater plant has a capacity of 3.6 million gallons per day. Average daily flow is 2.5 million gallons per day.
The Russell County School District consists of four elementary schools, one middle school, and one high school. In recent years the county has invested heavily in new and remodeled school buildings including the Russell County High School (above) with one of the state's few rural natatoriums.
The Lake Cumberland Regional College & Workforce Center on the campus of Russell County High is a large and well-equipped learning environment for in-demand workforce sectors: advanced manufacturing, healthcare, technology, construction trades, and transportation. With instruction in robotics, information technology, healthcare technology, CNC machining, automotive, and manufacturing technologies, this center is a regional hub for transitioning to higher education and workforce readiness.
In a partnership between Russell County schools and the RCIDA, The Seed Academy℠ AgriTech Center is in development a short distance from the high school in the Lake Cumberland Regional Industrial Complex Site One. The Center will introduce students to the latest in agricultural sciences and technology in preparation for the growing demand for food and sustainable farming.
In addition to the Somerset Community College Russell Center located in Russell Springs, there are 15 institutions of higher learning within 91 miles of Jamestown. They include, with mileage indicated: Lindsey Wilson College (19), Somerset Community College Main Campus (32), Campbellsville University (38), Centre College (56), Berea College (74), Asbury College (80), University of the Cumberlands (84), Eastern Kentucky University (88), Western Kentucky University (88), Bluegrass Community & Technical College (91), Transylvania University (91) and the University of Kentucky (91).
Scenic Lake Cumberland
Lake Cumberland, one of the largest man-made lakes east of the Mississippi, is not only a tremendous tourism resource, but it is also a dependable source of electricity. Wolf Creek Dam generates electricity for the Tennessee Valley Authority, which serves a large section of the southeast.
Numerous commercial and unnumbered private access points make this 101-mile long lake and its 1,225 miles of pristine shoreline available year-round for residents and visitors alike to participate in all forms of water recreation. Major attractions in the area include Lake Cumberland State Resort Park and the Jamestown Marina and Resort.
Off the Lake
Hiking, boating, golf, and fishing are among the many activities visitors to Russell County enjoy. Jamestown holds one of Kentucky's coveted Trail Town designations. Residents of Russell County have access to local city parks and many supervised sports programs including youth baseball, soccer, softball, and swimming. Croquet, roller skating, and bowling are also available. The private Lakewood Country Club near Russell Springs has an 18-hole golf course, tennis court, swimming pool, and clubhouse.
Cost of Living
Russell County is among the lowest cost of living regions of the country. Our rural lifestyle and friendly people make for an extremely liveable location. Our small towns and communities are rural, yet we were among the first cities in the state with Gigabit fiber-to-the-home. We are not far from the larger cities of Lexington, Nashville, Knoxville, and Bowling Green.
Caring for the Community
Russell County Hospital, located in Russell Springs, is a 25-bed Critical Access hospital offering quality healthcare and round-the-clock emergency services. State-of-the-art technology provides the medical staff with fast, accurate information and advanced techniques to diagnose and treat illnesses. The following services are available to our patients: Cardiopulmonary Rehabilitation, Laboratory Services, Critical Care Rehabilitation Services, Dietary Services, Respiratory Services, Emergency Care, Surgical Services, Heartburn Center, Wound Care Center, and Imaging Services.
