Business

Tax incentives awarded to expanding companies

The Kentucky Economic Development Finance Authority board approved several tax incentives for companies at its monthly meeting Thursday.

In general, when a company is approved for tax incentives, 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 approvals:

■ Corning in Harrodsburg, $4.5 million for its plans to expand production of a cover glass used in electronic devices. The company estimates the expansion will cost $186.57 million. It is expected to add 80 jobs that pay an average hourly wage of $25. Under a different tax incentive program, the company also was approved for up to $1 million.

■ CSC in Somerset, $1 million for its plans to expand its call center. The company estimates the expansion will cost $2.11 million. It is expected to add 200 jobs that pay an average hourly wage of $15.

■ American Howa Kentucky in Bowling Green, $900,000 for its plans to expand its facility that manufactures headliners and dash insulaters for automakers. The company estimates the expansion will cost $11.48 million. It is expected to add 86 jobs that pay an average hourly wage of $18.09. Under a different tax incentive program, the company also was approved for up to $100,000.

■ R.L. Schreiber in Lebanon, $2 million for the food company's plans to relocate its production and distribution operations. The company estimates the relocation will cost $7.36 million. It is expected to add 83 jobs that pay an average hourly wage of $17.

■ Integrated Pharmaceutical Packaging in Glasgow for $1.5 million for its plans to add a new location for its operations, which include converting bulk medicine into unit-size packaging. The company estimates the new location will cost $5.15 million. It is expected to add 100 jobs that pay an average hourly wage of $13.95.

■ Rogers Foam in Mount Sterling, $200,000 for its plans to locate a manufacturing facility for the production of parts for child-care products. The company estimates the new location will cost the same amount as the tax incentive package. It is expected to add 20 jobs that pay an average hourly wage of $11.

■ Maker's Mark Distillery in Loretto in Marion County, $48,000 for its plans to expand its barrel storage facilities. The company estimates the expansion will cost $2 million. No job creation is required under this program.

■ Sister Schubert's Homemade Rolls in Horse Cave, $600,000 for its plans to expand to produce more frozen dinner rolls and other bread items. The company estimates the expansion will cost $33.25 million. No job creation is required under this program.

■ Plasticware in Mount Vernon, $3.8 million for its completed acquisition of the Alcoa Reynolds Food Packaging facility. The company estimated the project cost $16 million.

Also at Thursday's meeting, officials disclosed that Systems Integration, which was considering building a nearly $2 million call center in Lexington that would employ 20 people, has decided against the project. The company has opted instead to locate the work at its facility in London. It had been previously approved for up to $200,000 in incentives.

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