7. Rebuilding Noah’s Ark – Funding

Building Noah's Ark

Answers in Genesis (AiG), an apologetics and worldview ministry specializing in the authority of the Bible and in Genesis-related issues, plans to construct an all-wood
full-size replica of Noah’s Ark to proclaim to the world that God’s Word is true. AiG operates the world-famous Creation Museum southwest of Cincinnati that opened in May 2007. The Ark will be the main feature of the Ark Encounter theme park.

Ark Encounter is a for-profit corporation managed by a non-profit subsidiary of AiG.

AiG will raise $24.5 million in donations to build the Ark. The remaining $125 million for the theme park will be raised by private investors.

Donors can sponsor a piece of the Ark by purchasing a peg ($100), plank ($1,000), or beam ($5,000). Unique serial numbers will enable finding exact ark locations of donor pegs, planks, or beams.

To recoup some development costs, project developers have applied for tax incentives offered by Kentucky’s Tourism Development Act. One incentive is the performance-based partial rebate of state sales tax. Another is the creation of a Tax Increment Financing District (TIFD) for the park. District employees are assessed an occupational tax of which some is rebated to developers along with some TIFD real estate taxes. The TIFD lets developers keep 25% of the taxes they bring in and 75% go to the county.

The net result is that city, county, and state benefit by the greatly increased tax revenues generated by the Ark Encounter theme park. About 25% is rebated to developers as a development incentive. This way everybody benefits through “sharing the wealth.” Grant County Judge-Executive Darrell Link exclaimed, “(This) is a good deal for our community.”

No money will be taken from the state budget to help build the park. Only after it is built and operating and meeting performance standards will partial rebates be given from generated taxes. There is no financial risk for Kentucky.

The state treasury will actually greatly benefit from the sales tax at the park plus payroll and property taxes from the estimated 14,000 additional jobs generated by the project and auxiliary services. Sales tax will also come from newly created local businesses that service the tourists like hotels, restaurants, gas stations, shops.

The Ark Encounter will be a huge economic boon to Williamstown, Grant County, and Kentucky for many years.

Soli Deo Gloria.

Read the prequels in this series of posts on Rebuilding Noah’s Ark:
1. Rebuilding Noah’s Ark – Intro
2. Rebuilding Noah’s Ark – Kentucky Governor – with YouTube videos
3. Rebuilding Noah’s Ark – How Big?
4. Rebuilding Noah’s Ark – Ark Encounter video
5. Rebuilding Noah’s Ark – Ark Encounter Park
6. Rebuilding Noah’s Ark – Location with maps

Read the sequel:
8. Rebuilding Noah’s Ark – Facing Opposition

See these articles and posts for more information on Noah’s Ark and the Flood:
Noah’s Flood—Key to the Past
Noah’s Flood—A Global Event
Noah’s Ark Replicas
Noah’s Ark Found?
Noah’s Ark Model in Holland with pictures
Noah’s Ark
Noah’s Ark Found? with YouTube video and pictures

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©William T. Pelletier, Ph.D.
“contending earnestly for the faith”
“destroying speculations against the knowledge of God”
(Jude 1:3; 2 Cor 10:4)
Monday January 24, 2011 A.D.

Read my January 2011 Bible-Science column
Adam’s Mythical Diary 3.

Now the earth was corrupt in the sight of God, and the earth was filled with violence. And God looked on the earth, and behold, it was corrupt; for all flesh had corrupted their way upon the earth. Then God said to Noah, “The end of all flesh has come before Me; for the earth is filled with violence because of them; and behold, I am about to destroy them with the earth. “Make for yourself an ark of gopher wood; you shall make the ark with rooms, and shall cover it inside and out with pitch. “And this is how you shall make it: the length of the ark three hundred cubits, its breadth fifty cubits, and its height thirty cubits. “You shall make a window for the ark, and finish it to a cubit from the top; and set the door of the ark in the side of it; you shall make it with lower, second, and third decks. “And behold, I, even I am bringing the flood of water upon the earth, to destroy all flesh in which is the breath of life, from under heaven; everything that is on the earth shall perish. “But I will establish My covenant with you; and you shall enter the ark– you and your sons and your wife, and your sons’ wives with you. “And of every living thing of all flesh, you shall bring two of every kind into the ark, to keep them alive with you; they shall be male and female. “Of the birds after their kind, and of the animals after their kind, of every creeping thing of the ground after its kind, two of every kind shall come to you to keep them alive. “And as for you, take for yourself some of all food which is edible, and gather it to yourself; and it shall be for food for you and for them.” (Genesis 6:11-21)