The Kentucky Economic Development Finance Authority gave final approval Thursday to Big Ass Solutions of Lexington for $6.5 million in tax incentives on a $10.7 million expansion of office, storage and warehouse space, and a production line.
The project received preliminary approval in 2012. The number of jobs expected to be created increased from 150 to 562, and the incentive amount requested increased from $2 million to $6.5 million. The expansion was expected to create 562 jobs with an average hourly wage of $22, including benefits.
Big Ass spokesman Josh Kegley said the application reflected “financial investments and employee growth ... (that) have already occurred in that time.”
“Our growth since the application was filed encompasses all departments and reflects the introduction of Big Ass Light LEDS and Haiku Home, our residential division,” Kegley added.
Big Ass Solutions cut 3 percent of its work force, or 39 employees, in September.
KEDFA also approved tax incentives for other projects in Kentucky. The projects are given initial approval unless final approval is specified.
▪ Falls City Beer, a popular brand founded in 1905 and revived in 2010, might soon be brewing in Louisville again. The company was approved for
$150,000 in tax incentives on a $2.1 million investment for the brand, which since its revival had been outsourcing the majority of its brewing to Wisconsin, then to Tennessee.
▪ Final approval was given to tax increment financing for Lexington’s four-phase Midland Avenue redevelopment project. Four million dollars in approved costs were approved for 80 percent recovery.
The 31.7 acre site is to include 40,000 square feet of leasable mixed-used retail space; 27,000 square feet of leasable mixed-used restaurant space; 70,000 square feet of office space; and 190,000 square feet of multi-family residential space.
▪ EnviroFlight LLC in Maysville, owned by Intrexon and Darling Ingredients, received $750,000 in tax incentives for a $32 million investment to establish a black soldier fly rearing and processing operation. The fly operation will use fly larvae to supply selected specialty pet food distributors and zoos as a feed ingredient for exotic pets.
▪ Asahi Bluegrass Forge Corp., which specializes in press forging for the automotive industry with gears, bearings and transmission parts, received tax incentives of $1 million and $120,000 on a $40 million investment. Asahi is considering the construction of a new manufacturing forge in Richmond.
▪ Hollison LLC in Owensboro, a company that provides products and services for food protection and the detection of contaminants in the food supply chain, received $50,000 in tax incentives on a $2.9 million building. The building would expand the company’s operations.