Hoover Universal in Georgetown among companies approved for state tax incentives

ctruman@herald-leader.comApril 24, 2014 

The Kentucky Economic Development Finance Authority board approved tax incentives Thursday for companies, including Hoover Universal of Georgetown and CBS Interactive of Louisville, that are making or considering new investments in the state.

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

In general, when a company accepts the tax incentive, it can keep that amount of money, which it would otherwise pay in taxes, assuming it fulfills the terms of the deal.

Here are selected board preliminary approvals, unless otherwise noted:

Hoover Universal of Georgetown, which makes automotive seating, foam and trim. $1.9 million in tax incentives for a possible $8.7 million retrofit and expansion. The project would create as many as 96 jobs earning an average $24 an hour, including benefits.

CBS Interactive of Louisville, an online media company. $1.5 million in tax incentives for a proposed $6.2 million expansion. The expansion would create as many as 100 jobs earning an average of $35 an hour, including benefits.

Champion Petfoods of Canada, $8.7 million in tax incentives for a possible $85.3 million pet food plant in Logan County. The project would create as many as 147 jobs earning an average of $20 an hour, including benefits.

Quiver Ventures, $4.5 million in tax incentives for a possible new $155.8 million automotive support building in Bowling Green that would handle and finish equipment. The company would create as many as 80 jobs paying an average of $30 an hour, including benefits.

Against the Grain of Louisville, a smokehouse restaurant and craft brewery at Louisville Slugger Field. $200,000 in tax incentives for a possible new $1.7 million production center for expansion. The expansion would create as many as 20 jobs, paying $19 an hour, including benefits.

Universal Woods of Louisville, $3 million in tax incentives for a possible $13.1 million expansion of its plant. The project could create as many as 156 jobs with average wages of $24 an hour, including benefits.

iPay Technologies of Louisville, a provider of electronic bill pay services. $850,000 in tax incentives for a proposed $2.2 million expansion of its operations support center. The expansion would create as many as 35 jobs paying an average of $42 an hour, including benefits.

Avure Technologies of Erlanger, a food safety company. $300,000 in tax incentives for a proposed $2.9 million relocation of its food lab and headquarters. The change would create as many as 14 jobs earning an average of $60 an hour, including benefits.

Keebler in Florence, a producer of snack foods. $2 million in tax incentives for a possible $19.1 million expansion of its production capability. The expansion would create as many as 75 jobs earning an average hourly wage of $27 an hour, including benefits.

New Mather Metals of Franklin, $325,000 in tax incentives for a $4.5 million investment to create possible additional production lines to produce suspension components for the automotive industry. The expansion would create as many as 20 jobs earning an average $20 an hour.

MacDonald and Owen Veneer Co. of Bowling Green, $300,000 in tax incentives for a proposed $2.6 million investment in a lumber-drying operation. The operation would create as many as 18 jobs earning an average $17 an hour, including benefits.

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

Lexington Herald-Leader is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service