Business

KEDFA grants incentives to projects in Richmond, Springfield, Somerset

The Kentucky Economic Development Finance Authority board approved tax incentives Thursday for Alumisource Corp., Hendrickson USA 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.

Alumisource Corp. of Richmond, $250,000 in tax incentives on a $6.6 million project to expand its operations providing custom shredded and blended aluminum scrap. The expansion will create 20 jobs.

Hendrickson USA of Somerset, $2 million in tax incentives on a $2.8 million investment for possible installation of new equipment and increasing capacity for its heavy duty commercial trailer and truck suspension systems. The expansion will create 80 jobs.

■ Bowling Green Metalforming, $10 million in tax incentives for a $261 million expansion of its plant that makes truck frame assemblies, engine cradles, body structural stampings and assemblies and suspension links. The expansion would create 450 jobs.

Fimco of Hopkinsville, $300,000 in tax incentives for a $3.5 million consolidation into a new facility to increase business and develop new products. The company makes agricultural, lawn and garden equipment. The expansion is expected to create 15 jobs.

Bluegrass Supply Chain Services of Bowling Green, $1.25 million in tax incentives for a $5.2 million expansion that would consolidate three locations into one centralized corporate office and warehouse. The company is a third party logistics provider of value-added supply chain solutions for automotive and food customers, providing warehousing, quality support, light assembly and transportation management services over a four-state region. The consolidation would create 55 jobs.

■ Edumedics of Louisville, $340,000 in tax incentives on a $693,445 investment to expand its headquarters. The company is a chronic disease management company that works with self-insured companies to manage the health of employees. The expansion would create 17 jobs.

■ Koogee doing business as The Comfy Cow of Louisville, $350,000 for a $2 million expansion and purchase of equipment. The company produces premium handmade ice cream and frozen desserts and is considering expanding its footprint in Jefferson County by relocating to a free-standing commissary in order to sell more products in grocery and other retail stores nationwide. The project would create 40 jobs.

■ FreshChoice Complete Diet Products in Warsaw, $220,000 in tax incentives on a $2 million expansion. The company markets various premium pet food products. The proposed project would include an expansion of its existing factory in Warsaw as well as the purchase of equipment to manufacture raw and frozen pet food and treats.

■ Crest Foam Industries of Springfield, $300,000 in tax incentives on a $3.2 million investment in a new specialized manufacturing process and locating in a new facility. The company makes reticulated polyester, polyether and graft types of foams used for automotive armrests, headrests, consoles and instrument panels. The company is considering a new specialized manufacturing process in Springfield that converts polyurethane foam into a more robust foam that has thermal and cushioning characteristics to be used in products including air filters and outdoor furniture. The expansion would create 10 jobs.

Kelley Beekeeping Co. of Clarkson, $1 million and $100,000 in tax incentives on a $7.4 million investment to enhance production and build a new manufacturing plant. The company manufactures beekeeping products and supplies for hobbyists and commercial markets worldwide. The expansion would create 50 jobs.

Mitsuba Bardstown, $240,000 in tax incentives on a $1.5 million investment. Some of the manufacturing lines from Bardstown had moved to sister companies in Indiana and Michigan. The company is starting to grow again and proposed to bring back the manufacturing line to Bardstown and expand its facility. A dozen additional jobs are anticipated.

Archer-Daniels-Midland Co., $5 million in economic incentives on an $8.3 million investment to add an IT center in Erlanger to support its global operations. The company has more than 270 processing plants that convert corn, oilseeds, wheat and cocoa into products for food, animal feed, industrial and energy uses. The company recently acquired Swiss-based WILD Flavors, which has operated its United States headquarters and manufacturing operations in Erlanger. ADM is considering locating an IT Center to support its global operations on the WILD campus. The expansion would create 200 jobs.

■ Jefferson AD I, a subsidiary of Nature's Methane, $2.1 million in incentives on a $27.4 million project to build an anaerobic digestion facility to convert food waste to methane energy. The building would be part of the West Louisville Food Hub, a 25-acre site being developed as a food distribution complex at 30th and Market streets. The company plans to clean the methane and will meter it into a gas pipeline for selling to a utility company. It is anticipated the plant will produce enough methane to provide electricity for about 3,200 homes annually.

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