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Factory in Corbin will make wooden sticks for ice cream bars, stirring coffee

Still from a video posted on Gov. Matt Bevin’s YouTube channel, in which he talks about the decision by Euro Sticks to locate a factory in Corbin to make wooden sticks used for ice cream bars and coffee stirrers.
Still from a video posted on Gov. Matt Bevin’s YouTube channel, in which he talks about the decision by Euro Sticks to locate a factory in Corbin to make wooden sticks used for ice cream bars and coffee stirrers.

The Kentucky Economic Development Finance Authority on Thursday has approved tax incentives for companies including North America Sticks of Corbin, Astecnos America Corp. of Nicholasville and New Riff Distilling of Newport.

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:

▪  North America Sticks of Corbin, $3 million in tax incentives on a $15 million investment to open its first United States plant to supply wooden ice cream, popsicle and coffee stir sticks. The plant would create up to 90 jobs with an average hourly target of $18.75 an hour including benefits.

▪  Astecnos America Corp. of Nicholasville, $300,000 in tax incentives on an investment of $1.2 million for its first U.S. operation. The company designs and manufactures specialized assembly devices as well as control panels for the automotive industry.

The plant would create 41 jobs with an average hourly wage of $42 an hour including benefits.

▪  New Riff Distilling of Newport, $500,000 and $150,000 in tax incentives on a $12.5 million “whiskey campus” that will hold 28,000 bourbon barrels to age, raw material storage, offices, general warehousing, bottling and a distribution operation. The project would also include the renovation of an existing building by remodeling two historic brick warehouse buildings and constructing a major set of barrel warehouses, as well as acquiring land adjacent to the property to construct a brewery, taproom and restaurant.

▪  Logan Corp. of Salyersville, $2 million in tax incentives on a $2.6 million investment to add a new plant to expand its truck bed product line to meet customer demand. The company makes products for mining, rail transport, industrial, construction and power generation markets.

The expansion would create 70 jobs with an average hourly wage of $15 an hour including benefits.

▪  Altec Industries of Elizabethtown, $150,000 in tax incentives on a $16 million expansion to house new equipment and increase the size of the office, high bay and cafeteria space. Altec is a privately held company formed in 1929 and is a leading provider of products and services to the electric utility, telecommunications, tree care and contractor markets. Products include truck bodies and related equipment.

▪  Jim Beam Brands of Shepherdsville, $400,000 in tax incentives on a $27.8 million addition of warehousing space to meet growing customer demand for its products.

▪  Ervin Cable Construction of Florida in Sturgis in Union County, $200,000 in tax incentives on a $511,000 investment to expand its headquarters location. The expansion would create up to 20 jobs with an average hourly wage of $17 including benefits.

▪  Beltline Electric Co. of Paducah, $125,000 in tax incentives on a $1.2 million expansion of its current plant in Paducah to manufacture engineered electrical components. The expansion will create 15 jobs with an average hourly wage of $25 an hour including benefits.

▪  JBR Industrial Services of Maysville, $250,000 on an investment of $2.4 million to expand warehouse ability to store and rebuild machinery, expand the rigging operations, freight brokerage services and office space. JBR provides a conduit for its clients to transfer the risk associated with industrial transition, such as closing, partial relocation or consolidating a plant.

The expansion would create 10 jobs with an average hourly wage of $20 an hour including benefits.

▪  Leggett & Platt Inc. of Georgetown, $800,000 in tax incentives on an investment of $1.8 million to expand its existing Georgetown operations. The company makes adjustable bed frames for household use.

The expansion would create 64 jobs with an average hourly wage of $18 an hour including benefits.

▪  Alliance Entertainment of Shepherdsville, $500,000 in tax incentives on a $6.3 million acquisition of another company and moving some of the business to its Shepherdsville location. Alliance is the largest wholesale distributor of CD, DVD and Blu-Ray titles in the United States.

The expansion would create up to 150 jobs with an average hourly wage of $13 an hour including benefits.

▪  AnyConnect of Louisville, $300,000 in tax incentives on a $1.9 million project to open a second office for half of its U.S.-based development staff. AnyConnect develops, markets and licenses software for the Internet of Things. Its existing intellectual property includes copyrighted software and patented inventions that allow two devices on the Internet to communicate directly, technology used in baby monitors and video conferencing services.

The expansion would create 12 jobs with an average hourly wage of $50 an hour.

Cheryl Truman: 859-231-3202, @CherylTruman

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