Business

State tax incentives approved for auto businesses in Somerset, Bardstown

The Kentucky Economic Development Finance Authority approved tax incentives Thursday for an expansion for Toyotetsu America of Somerset, a possible new plant for Thai Summit America of Bardstown and additional barrel warehouses for Brown-Forman of Midway.

The approval of tax incentives outlines the state’s commitment to a project if it should occur in Kentucky.

The following projects received approval:

▪  Toyotetsu America of Somerset, a producer of automotive parts in the United States and Canada, $2 million in tax incentives on a $63 million investment to add high-tech equipment and additional manufacturing space. The expansion would add as many as 100 jobs earning an average of $18.72 an hour, including benefits.

▪  Thai Summit America Corp. of Bardstown, which is considering building a new plant for its stamping and assembly operation to help accommodate a newly formed contract with Ford, $5 million and $500,000 in tax incentives on a $110 million investment. The plant would create as many as 216 jobs with an average wage of $33 an hour, including employee benefits.

▪  Brown-Forman Corp. of Midway, producers of brands including Woodford Reserve, Early Times and Old Forester, $400,000 in tax incentives on a $22 million investment to expand its Woodford Reserve Distillery by adding additional barrel-maturation warehouses.

Brown-Forman has a contract to buy 117 acres in northeast Woodford County and plans to build as many as 12 more barrel warehouses there over the next 10 years. Each warehouse would have capacity for about 65,000 barrels of Woodford Reserve.

▪  Kentucky Fresh Harvest of Stanford, which produces high-tech greenhouses, $1.5 million and $190,000 in tax incentives on a $10.7 million investment for the acquisition and construction of a new operation to grow and sell produce to its national wholesaler clients. The expansion would create as many as 75 jobs earning an average wage of $12.50 an hour, including benefits.

▪  Saputo Dairy Foods USA of Murray, one of the three largest dairy foods plants in the nation, $3.5 million in tax incentives on a proposed $7.1 million investment in new equipment and maintenance. The company agrees to retain at least 95 percent of its current 319 jobs with average hourly wages of $22.54, including benefits.

▪  Denyo Manufacturing Corp. of Danville, $75,000 in tax incentives on a $3.3 million expansion. The company makes engine-driven generators, welders, compressors and other equipment as well as offering repair, trucking and warehousing services.

▪  American Stave Company of Benton, which produces staves, the pieces of wood in barrels, for the bourbon and whiskey industries, $750,000 in tax incentives. The company is considering a $12 million project that includes buying land to build a new stave mill to create more production flexibility.

The project would create as many as 48 jobs earning an average wage of $19 an hour, including benefits.

▪  Legend Lumber Lee Corp. of Boston in Nelson County, which is considering moving to Kentucky to start an independent lumber concentration yard for milling and cutting hardwoods, $600,000 and $40,000 in tax incentives on a $2.5 million investment in a new lumber yard. The project would create as many as 30 jobs earning an average wage of $17.65 an hour, including benefits.

▪  Advanced Business Solutions of Louisville, a managed-services provider, $170,000 in tax incentives on a $2.5 million purchase of a new building to allow for business growth. The expansion would create as many as 10 jobs with an averagely hourly wage of $20.50, including benefits.

▪  A. Raymond Tinnerman Automotive Inc. of Flemingsburg, $200,000 in tax incentives on a $332,570 investment in equipment for a new product line. The project would create as many as 10 jobs with an average wage of $22 an hour, including benefits.

▪  AquiSense Technologies LLC of Florence, a manufacturer of UV-C LED water disinfection and wastewater treatment systems, $500,000 in tax incentives on a $2.1 million establishment of a new headquarters and production plant. The project would create as many as 45 jobs with an average wage of $36 an hour, including benefits.

▪  Lighthouse Transportation Services of Covington, a third-party logistics company providing transportation solutions, $150,000 in tax incentives on a $370,000 investment to move to and renovate a larger site and the purchase of equipment. The project would create as many as 10 jobs with an average wage of $25 an hour, including benefits.

Cheryl Truman: 859-231-3202, @CherylTruman

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