Business

Tax incentives approved for Lancaster, Richmond companies

The Kentucky Economic Development Finance Authority has approved tax incentives for companies including Southern Solutions of Lancaster, Asahi Forge of America in Richmond and Pride Industries in Union County.

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

The following projects received approval:

▪  Southern Solutions of Lancaster, $250,000 in tax incentives on a $550,000 relocation of its existing operation in Stanford to a larger plant in Lancaster. The move would let the company expand into manufacturing metal tubing used for its casework products. The company makes residential and commercial millwork and casework for its clients.

The relocation would create as many as 10 jobs with an average wage of $16 an hour, including benefits.

▪  Asahi Forge of America Corp. of Richmond, $100,000 in tax incentives on a $10.4 million expansion of its plant in Richmond to add capacity for additional press lines and an additional descale (shot blasting) line. The company is a supplier to major automotive manufacturers.

▪  Pilgrim’s Pride Corp. of Hickory in Graves Co., $1.5 million in tax incentives on a $12.9 million expansion of its poultry processing plant. The proposed project would increase deboning and marinating capacity, which would contribute to company-wide growth across various product lines.

The expansion would create as many as 141 jobs with an average wage of $13 an hour, including benefits.

▪  Pride Industries of Clay in Union Co., $100,000 in tax incentives on a $150,000 investment to buy new equipment. The company makes metal roofing products and is beginning to offer a new line of aluminum composite material panels.

The move would create as many as 10 jobs with an average wage of $20 an hour, including benefits.

▪  Kenmark Optical of Louisville, $75,000 in tax incentives on a $2.5 million investment to move into a new site. The company is a distributor of optical frames.

▪  RXC Acquisition Co. of Louisville, $300,000 in tax incentives on a nearly $25 million investment to expand its distribution center in Louisville to meet future customer demands and connect patients to therapy. The company does business as RxCrossroads and was formed in 2001 as a specialty distribution, pharmacy and patient support services provider.

▪  Ryder Integrated Logistics of Hebron, $500,000 in tax incentives on a $3 million investment to open a logistics center that will be a distribution hub for national retail brands. Ryder is one of the largest logistics companies in the country, leasing trucks and serving as a third-party logistics partner.

The expansion would create as many as 90 jobs with an average wage of $18 an hour, including benefits.

▪  J&J Lumber of Millwood in Grayson Co., $600,000 in tax incentives on a $1.1 million investment to improve its plant with equipment and utility upgrades.

The expansion would create as many as 30 jobs with an average wage of $15 an hour, including employee benefits.

▪  Retail Convergence.com of Shepherdsville, $2.2 million in tax incentives on a $15 million investment to expand its distribution and media production operation. The company specializes in flash sales for high-end fashion apparel and merchandise.

The expansion would create as many as 102 jobs with an average wage of $20 an hour, including benefits.

Cheryl Truman: 859-231-3202, @CherylTruman

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