Buffalo Trace Distillery is considering a $42.6 million expansion of its Frankfort facilities and upgrading its bottling operation.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August approved the company for up to $400,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
Other KEDFA approved investments:
• The Bardstown Bourbon Company, one of the largest new distilleries in the U.S., seeks an $18 million investment to double capacity of the distillery from 3 million to 6 million proof gallons per year. The investment includes a target of 10 new full-time jobs with an average wage of $37 an hour.
The company has been granted preliminary approval for up to $300,000 in tax incentives through KEIA.
• Denyo Manufacturing Corp.’s Danville facility will invest $8.676 million to expand an approximately 63,000-s.f. building for fabrication of sheet metal components used in generator and compression assembly. The expansion would include the addition of state-of-the-art equipment for cutting, bending and welding of steel for complex structural components on-site.
The investment includes a target of 45 new full-time jobs in 10 years with average wage of $21 an hour.
The company has been granted preliminary approval for up to $600,000 in tax incentives through KEIA.
• The Recon Group will invest nearly $1.4 million to expand its Frankfort operations, creating 90 new full-time jobs in 10 years with an average wage of $16.50 an hour.
The company purchases returned merchandise, primarily from big box retailers in the U.S. and Canada, such as portable media players, tablets, computers and TVs, inspects them for functionality and physical condition, wipes to clear existing data, returns to defaults, repairs or refurbishes and repackages.
The company has been granted preliminary approval for up to $800,000 in tax incentives through KEIA.
• Gryphon Environmental, located in Owensboro, will invest $1.7 million to relocate its production facility, which will increase the manufacturing space as well as add for future growth. The investment includes a target of 20 new full-time jobs in 10 years with an average wage of $30 an hour.
The company has been granted preliminary approval for up to $400,000 in tax incentives.
• WPT Corp., a nonwoven fabric manufacturer in Beaver Dam, will invest almost $5 million to build a second facility in Ohio County, with a target of 40 new full-time jobs in 15 years with an average wage of $17 an hour.
At the new location, the company will install a state-of-the-art nonwoven production line that will focus on the hygiene and filtration media sectors.
The company has been granted preliminary approval for up to $750,000 in tax incentives.
• Louisville Distilling Co. will invest $27 million for a column still for expanded production, a bottling line, grain handling equipment, barrel storage and a product “finishing” area. The investment includes a target of 60 new full-time jobs in 10 years with an average wage of $25 an hour.
The company has been granted final approval for up to $1.1 million in tax incentives.
Add Comment