The Kentucky Economic Development Finance Authority board approved tax incentives Thursday for Park Energy Management Group of Lexington, DecoArt of Stanford, General Cable Industries of Lawrenceburg 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.
■ Park Energy Management Group of Lexington, $300,000 in tax incentives for a proposed $1.7 million investment for the construction of a compressed natural gas station at a new facility in Lexington. No job creation numbers were listed.
■ INFAC of Campbellsville, $200,000 in tax incentives on a $1 million investment to add to its capacity to manufacture control cables for the automotive industry. The expansion is expected to add 20 jobs paying an average of $15 an hour including benefits.
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■ DecoArt of Stanford, $720,000 in tax incentives on a $1.3 million investment to lease additional space for storage and production of its paint mixing facility. No job creation targets were listed.
■ General Cable Industries of Lawrenceburg, $700,000 in tax incentives on a $2.5 million investment to relocate assets and product lines from other facilities to meet the growing demand for their specialty electronics cables and fiber optic business lines. The change would create up to 54 jobs earning an average $21 an hour including benefits.
■ Challenger Lifts of Louisville, $400,000 and $100,000 in tax incentives on a $5 million investment to expand its operation. The company has been operating in Louisville for more than 30 years and was recently acquired by Snap-on Inc. No job creation targets were listed.
■ MISA Metal Fabricating in Louisville, $90,000 and $80,000 in tax incentives on a $4.3 million investment to expand its full-service steel fabricating operation. No job creation targets were listed.
■ ProCom Heating of Bowling Green, $750,000 and $100,000 in tax incentives on a $19.2 million expansion of its factory, which makes and distributes vent-free gas heating appliances. The proposed project includes an expansion of its facility and the relocations of its China-based manufacturing to Bowling Green. No job creation targets were listed.
■ Tyson Chicken in Robards, $750,000 and $100,000 in tax incentives on an $8.2 million expansion for processing of beef, chicken and pork. No job creation targets were listed.
■ Paducah Riverfront Hotel, $420,720 in tax incentives on a $18.8 million investment in a new riverfront hotel with 123 rooms, a restaurant and three meeting rooms. No job creation targets were listed.
■ Amcor Rigid Plastics of Nicholasville, the leading supplier of plastic packaging for products in food, beverage, pharmaceutical and homecare industries, $250,000 in tax incentives on an investment of $14.8 million for a new warehouse to consolidate several other warehouses.