Business

Expanding companies approved for tax incentives

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

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:

Washington Penn Plastic Co. in Frankfort, $500,000 for its plans to add a more efficient line at its facility, which produces a variety of plastic products including wire harnesses. The company estimates the project will cost $6.24 million. The company pledges to keep at least 85 percent of the 52 jobs at the site.

Superior Windings in Maysville, $300,000 for its plans to place a motor manufacturing plant in the city. The company estimates the project will cost $732,000. It is expected to add 25 jobs that pay an average hourly wage of $13 including benefits.

Heartland Family Farms in Sonora, $1.25 million for its dairy plans. The company estimates the project will cost $24.6 million. It is expected to add 50 jobs that pay an average hourly wage of $13 including benefits.

Senko U.S.A. in Winchester, $100,000 in sales and use tax reimbursements for equipment to be used for its plans to open a warehouse distribution center. The company estimates the project will cost $7.48 million.

J & T Distributing in Clark County, $240,000 for improvements it has finished to its ammunition manufacturing and assembly facility. The company estimates the project cost $998,000.

Hendrickson USA in Pulaski County, $2.4 million for improvements it has finished to a facility on 19 acres. The company estimates the project cost $24.4 million. It is expected to create 120 jobs with an average hourly wage of $18.89 including benefits.

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