BUSINESS RESOURCES
Here is a list of all the business resources we offer. This page provides guidance on starting, expanding, and maintaining your business, as well as information on utility services, location and transportation options, taxes, and permits. For more information you can contact our team directly.
DOING BUSINESS IN FRANKFORT
Frankfort, Kentucky
Business Development & Permitting Primer
A Step-by-Step Guide for Entrepreneurs and Investors
Frankfort offers entrepreneurs a unique opportunity to establish businesses in Kentucky’s capital city within a walkable historic district that blends government, tourism, hospitality, retail, arts, dining, and residential growth.
Why Frankfort?
Frankfort provides:
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Access to Kentucky state government and professional services
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Historic architecture and unique storefronts
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Tourism traffic connected to bourbon, history, and culture
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Growing residential investment and mixed-use redevelopment
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Walkability and event-driven foot traffic
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Access to regional transportation corridors
The City encourages redevelopment and adaptive reuse while protecting the character of the downtown historic district through zoning and design standards.
Step-by-Step Business Startup Process
STEP 1 — Define Your Business Concept
Before leasing or purchasing property, prospective business owners should determine:
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Business type and use
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Square footage needs
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Parking requirements
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Utility demands
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Food/alcohol service requirements
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Outdoor seating or signage needs
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Renovation requirements
Certain uses may require additional approvals such as Conditional Use Permits, historic review, or health department review.
STEP 2 — Verify Zoning Before Signing a Lease
We strongly recommend obtaining zoning preapproval before executing a lease or purchasing a property. Different business uses may not be permitted in every downtown building.
Contact:
City of Frankfort Planning & Community Development
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Address: 315 West 2nd Street, Frankfort, KY 40601
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Phone: (502) 352-2094
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Main City Line: (502) 875-8500
Resources:
Key Items Reviewed:
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Permitted business use
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Parking compliance
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Occupancy classification
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Historic district standards
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Sign regulations
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Outdoor dining eligibility
STEP 3 — Register Your Business
Businesses operating within the City of Frankfort must obtain a local business license and register for occupational taxes.
Required Registrations May Include:
Contact:
City of Frankfort Finance Department
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Address: 315 W. 2nd Street, Frankfort, KY 40601
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Phone: (502) 875-8500
Resources:
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Business License Forms & Documents
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Occupational License & Tax Information
Current Local Occupational Tax Rates
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Occupational License Fee: 1.95%
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Net Profit License Fee: 1.95% or minimum fee requirement
STEP 4 — Secure Building & Renovation Permits
Most downtown projects involving renovation, remodeling, occupancy change, signage, or construction require permits and inspections. A change of use often triggers building code review even if minimal construction is planned.
Additional Resources
Potential Permits Required
UTILITIES
Kentucky has the lowest cost of electricity in the industrial sector among states east of the Mississippi River. As of December 2016, Kentucky’s rates were fifth lowest nationally and nearly 21 percent lower than the national average. Frankfort Plant Board (FPB), the local municipal utility provider of water, electricity, and telecommunications services ranks as one of the lowest revenue per kilowatt (kWh) electric providers in a six-state area. Sewer is available through the city government and a variety of independent wastewater treatment plants. Specific rates can be provided upon request. Solid waste disposal services are provided by the city and private companies.
LOCATION & TRANSPORTATION
Located within 600 miles of 65 percent of the nation’s population, Frankfort offers proximity to key markets and easy access to your customers. Major U.S. cities including Atlanta, Birmingham, Charlotte, Chicago, Detroit, Indianapolis, Memphis, Nashville and St. Louis are located within a seven-hour drive. Located 20 minutes west of Lexington, 30 minutes east of Louisville and about an hour south of Cincinnati, businesses in Frankfort enjoy outstanding access to air, waterways, rail and major highways. International airports are located in both Louisville and Northern Kentucky and the Bluegrass Airport, located in Lexington, is a regional airport serving over one million passengers each year.
TAXES & PERMITTING
Kentucky has the lowest cost of electricity in the industrial sector among states east of the Mississippi River. As of December 2016, Kentucky’s rates were fifth lowest nationally and nearly 21 percent lower than the national average. Frankfort Plant Board (FPB), the local municipal utility provider of water, electricity, and telecommunications services ranks as one of the lowest revenue per kilowatt (kWh) electric providers in a six-state area. Sewer is available through the city government and a variety of independent wastewater treatment plants. Specific rates can be provided upon request. Solid waste disposal services are provided by the city and private companies.
WORKFORCE & EDUCATION
Operates Second Street School (primary and middle grades), Frankfort High School (home of the Panthers), Rosenwald Empowerment and Preparation (REP) Academy (Non-Traditional High School Program) and The Early Learning Academy.
Several private schools are also located in Frankfort: Capital Day School, Frankfort Christian Academy, and Good Shepherd Church School.
Operates seven elementary schools, two middle schools, and two high schools (Franklin County High School and Western Hills High School, homes of the Flyers and the Wolverines, respectively).
Kentucky's historically black university, KSU was founded in 1886 as the State Normal School for Colored Persons. The campus was integrated beginning in the 1950s and received university designation in 1972. KSU today has approximately 3,000 students, including both undergraduates and graduate students.
Bluegrass Community and Technical College (BCTC) and Jefferson Community and Technical College (JCTC) are highly regarded in the Kentucky Community and Technical College System (KCTCS). With multiple campuses, these colleges are designed to meet the needs of diverse students. The colleges provide associate degrees, technical certifications, and career-focused programs that prepare students for immediate entry into the workforce or to transfer to a four-year university.
Several colleges and universities are conveniently located within a 65 mile radius of Frankfort, Kentucky. This offers residents a variety of higher education options tailored to diverse interests and career aspirations. These institutions not only contribute to the local community but also provide educational experiences that can help students thrive in their chosen fields. Click the link above to view the list of colleges within a 65 mile radius of Frankfort, Kentucky.
KY VIRTUAL CAREER ACADEMY
We Lead CS offers Kentucky high school students a jump start on computer science degrees in our virtual, dual college credit career pathways - computer programming, cybersecurity, and data science - and the opportunity to prepare for the workforce with many of America's leading tech employers. Students learn online from their schools with live, virtual instruction and support from We Lead CS teachers and College & Career Coaches.
EXISTING EMPLOYERS
STARTING YOUR BUSINESS
Starting a business can be challenging, but with the right steps, you can set yourself up for success. To help guide you through the process, we’ve outlined key steps that will enhance your chances of achieving the best possible outcome. Additionally, we’ve included a list of resources you can reach out to if you need further support along the way.
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Research Your Market:
Exploring the market helps you understand if your business idea has potential. By gathering data on your target audience and existing businesses, you can identify opportunities to stand out.
Business Plan:
A well-crafted business plan acts as a roadmap for building and scaling your business. It outlines your strategy, goals, and financial forecasts, and can help convince potential investors or partners to support you.
Funding:
Determine how much money you’ll need to launch your business based on your plan. If you don’t have enough, you can explore loans, find investors, or use other funding methods like crowdfunding.
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Location:
Whether it’s a physical store or an online platform, where you set up your business matters. It influences everything from taxes to customer access, so pick a location based on your operational needs and market reach.
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Legal Structure:
The legal structure of your business (such as LLC, corporation, or sole proprietorship) affects your taxes, liability, and registration requirements. Select the best fit for your specific business goals.
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Business Name:
Choose a unique name that reflects your brand and isn’t already in use. Make sure it aligns with your business identity and consider trademarking it to protect your brand.
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Register Your Business:
After choosing a name and structure, make your business official by registering it with the appropriate local, state, and federal agencies.
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Get Tax IDs:
Apply for an Employer Identification Number (EIN), which you’ll need for tax filings and other official business processes. Some states may also require a state tax ID.
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Acquire Required Permits and Licenses:
Depending on your industry and location, you’ll need specific permits and licenses to legally operate. Ensure you’re aware of the necessary regulations to stay compliant.
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Set Up a Business Bank Account:
Having a separate business bank account helps keep your finances organized, protects your personal assets, and simplifies tax management.
SMALL BUSINESS ADMINISTRATION
The Small Business Administration (SBA), established in 1953, is a U.S. government agency designed to assist small businesses and entrepreneurs nationwide. Its main objective is to foster small business success by providing a variety of resources, including financial support, mentorship, and advocacy. The SBA plays a crucial role in guiding business owners through challenges, whether they are just starting out, growing, or managing their operations.
TOWN HALL IN FRANKFORT, KY
Featured Guests:
Mayor Layne Wilkerson, County Judge Michael Mueller, and Small Business Association Kentucky District Director Robert Coffey
Topics:
• Access to capital for small businesses — hear from the lenders themselves! SBA Small Business Perspective: Growth Opportunities through SBA’s 8(a) Program and other certifications.
• The current state of small business in Kentucky
Registration:
• FREE of charge
• Register by Tuesday, December 10th
• For more information or to RSVP, contact michael.ashcraft@sba.gov and request either the morning or afternoon session.