State approves tax incentives for Sprint, Frost-Arnett, other companies

ctruman@herald-leader.comMarch 27, 2014 

The Kentucky Economic Development Finance Authority board approved tax incentives Thursday for Sprint/United Management Co., Tower Automotive Operations and other companies considering and making new investments in the state.

The approval of tax incentives outlines the state's commitment to a project if it should occur in Kentucky.

■ Kowa Kogyosho Co. Ltd. of Corbin, $600,000 in incentives on an investment of $8.2 million for the company, which provides hot-dip galvanized coating and other surface treatments and metal working, to open its first operation in North America. The operation would hire as many as 30 employees, who would receive $17 an hour, including benefits.

■ Sprint/United Management Co. of Louisville, a subsidiary of Sprint Communications Inc., $175,000 in incentives for a $256,445 renovation of its building by remodeling interior walls and buying and installing new equipment. The renovation would add as many as 30 jobs making $27 an hour, including benefits.

■ Integrity HR of Louisville, a human resources consulting firm, $200,000 in tax incentives for a $1.1 million investment to acquire a building. The company would add as many as 20 jobs making $25 an hour, including benefits.

■ Tower Automotive Operations USA of Shepherdsville, which makes engineered structural metal components, $2 million in tax incentives for a $36.4 million investment for a new building to provide stamping and welding subassemblies for sport utility vehicles. The expansion would add as many as 78 jobs earning $25 an hour, including benefits.

■ PetMed Express of Louisville, a nationwide pet pharmacy, $550,000 in tax incentives for an $8.1 million investment to move its distribution and warehouse operations. The relocation would add as many as 33 jobs making $27 an hour, including benefits.

■ Custom Cooler of Elkton, which makes custom coolers, freezers and freezer doors, $1.5 million in tax incentives on a $5.7 million investment for a manufacturing building. The company would employ as many as 75 employees making $25 an hour, including benefits.

■ Frost-Arnett Co. of Campbellsville, a health care receivables management company, $300,000 in tax incentives for a proposed $621,000 investment in a Campbellsville office. The company would employ as many as 70 people earning $14 an hour, including benefits.

Cheryl Truman: (859) 231-3202. Twitter: @CherylTruman.

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