Jeffersontown City Council approved an incentive Jan. 21 that will provide businesses that meet certain qualifications a 50 percent refund for five years on payroll taxes paid by their employees.

The qualifications require companies to have at least three employees making an average salary of $42,500.

The initiative, called the Jeffersontown Occupation Business Savings program, is meant to attract smaller businesses with growth potential to the city and to help companies already located there to expand.

Companies can send applications to Jeffersontown Economic Development Authority director Mike Kmetz, (502) 261-9697.