State incentives approved for toxicology lab, nasal spray manufacturer

The Kentucky Economic Development Finance Authority approved tax incentives Thursday for companies including Hera Testing Laboratories and Summit Biosciences, both of Lexington.

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

The following projects received approval:

▪  Hera Testing Laboratories Inc. of Lexington, a toxicology and personalized therapeutic testing company, $300,000 on a $1.8 million project to build a laboratory and infrastructure to grow from a research-stage start-up to a commercial contract research organization. The expansion would create as many as 23 jobs with an average wage of $28 an hour.

▪  Summit Biosciences of Lexington, $550,000 in tax incentives on a $7.9 million investment to expand its manufacturing, lab and warehouse space to produce commercial batches of a recently FDA-approved nasal spray for commercial production. The project would create as many as 21 jobs with an average wage of $22 an hour, including benefits.

▪  Heaven Hill Distilleries of Bardstown, $685,000 in tax incentives on a $29 million addition of its finished case goods storage space, needed to meet growing product demand.

▪  Jim Beam Brands of Frankfort, $200,000 in tax incentives on a $10.3 million investment to increase barrel storage warehouses to meet growing demand.

▪  Campari America LLC of Lawrenceburg, $40,000 in tax incentives on a $1.9 million investment to house growing production for the aging process. The company is considering building a new pallet barrel warehouse to provide storage for 45,000 barrels.

▪  Halton Group Americas of Scottsville, a Finnish-owned company that produces industrial ventilation systems, $75,000 on a $2.9 million investment to add corporate office space to its building and to buy new machinery.

▪  Butts Foods of Franklin, a Tennessee-based company that is building a distribution center, $340,000 and $60,000 in tax incentives on an investment of $3.6 million. The expansion is expected to create as many as 30 jobs with an average wage of $29 an hour, including employee benefits.

▪  Sumitomo Electric Wiring Systems of Franklin, an automotive manufacturing plant that develops electric wiring harnesses and wiring for automobiles, $1.4 million and $30,000 in tax incentives on a $10.5 million investment for expansion of its plant. The investment would create as many as 145 jobs with an average wage of $28 an hour, including benefits.

▪  Steel Ventures Inc. of Wurtland in Greenup County, $2 million and $150,000 in tax incentives on an investment of $15.8 million. The company is considering the construction of a galvanizing operation in Wurtland to help meet growing demand for products. The project would create as many as 65 jobs with an average wage of $17 an hour, including benefits.

▪  AAK of Louisville, an international corporation that refines vegetable oils for specialized products, $200,000 and $180,000 in tax incentives on an investment of $32.8 million. The expansion is expected to create as many as 20 jobs earning an average wage of $21 an hour, including benefits.

▪  RxCrossroads of Louisville, a specialty distribution, pharmacy and patient support services provider, $4 million on an investment of $25 million for expansion of a distribution center in Louisville. The project would create as many as 400 jobs earning an average wage of $30 an hour, including benefits.

▪  Fischbach USA of Elizabethtown, $190,000 and $60,000 in tax incentives on a $5.8 million expansion to begin producing flexible tubes for its existing sealants and adhesives customer needs. The expansion would create as many as 11 jobs with an average wage of $18.50 an hour, including benefits.

▪  Kobelco Aluminum Products and Extrusions of Bowling Green, $2.5 million and $200,000 in tax incentives on a $46.7 million manufacturing plant in Bowling Green. The project will help meet the demand for aluminum extruded products in the auto industry. The project will create as many as 105 jobs with an average wage of $28 an hour, including benefits.

▪  Champion Home Builders of Benton, $2.2 million in tax incentives on a $6.3 million investment to build low- and medium-size manufactured homes. The project would create as many as 150 jobs with an average wage of $28 an hour, including benefits.

▪  Magna Seating of America (Louisville Seating) of Shepherdsville, $2 million in tax incentives on a $12.7 million investment to expand its existing plant to build seats for multiple sport-utility vehicle models. The expansion would create as many as 170 jobs with an average wage of $28 an hour, including benefits.

This story was originally published April 28, 2016 at 12:17 PM with the headline "State incentives approved for toxicology lab, nasal spray manufacturer."