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P&L gets initial approval on tax incentives

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February 14, 2001 The state of Kentucky has given preliminary approval to $400,000 in tax incentives for the Paducah & Louisville Railway to build a new "green" headquarters. The Paducah Sun reported that the Kentucky Economic Development Finance Authority gave initial go-ahead for the tax credits, which will go toward a $4.2-million headquarters and end the company's search for a new home.

The new facility will
replace P&L’s crowded, aging quarters in downtown Paducah with a new
20,000-square-foot building.

P&L, a 265-mile regional
railroad, has grown steadily in recent years by acquiring rail lines in West
Virginia, Indiana and Illinois. Company president Tony Reck said the company
has newer contracts with CSX Transportation to build and operate intermodal
facilities in West Baltimore, Ohio, and Winter Haven, Fla.

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