Kentucky Kingdom has won approval for performance-based tourism incentives, which could amount to as much as $10 million over 10 years.
The Louisville amusement park closed in 2009, and developers plan to reopen it next year.
The Kentucky Tourism, Arts and Heritage Cabinet said in a statement that the Kentucky Tourism Development Finance Authority approved the application for the incentives Wednesday after hearing a report from Hunden Strategic Partners.
The Kentucky State Fair Board owns the property where the park is located and has approved a lease agreement for the project.
The cabinet says eligible tourism attractions are allowed a sales tax rebate of as much as 25 percent of project capital costs over a 10-year period if they meet economic impact criteria.