FRANKFORT, Ky. — In a win for Kentucky’s growing agritech sector. EnviroFlight LLC announced the company’s plans to add 40 jobs in Maysville with a nearly $20 million expansion.
EnviroFlight, which produces black soldier fly larvae for animal and plant nutrition, established its Kentucky production facility just two years ago.
EnviroFlight’s leaders plan to expand the current 112,500-square-foot facility on Progress Way in Maysville by more than 173,000 square feet to accommodate new production and meet customer demand. EnviroFlight, which has grown from 12 employees at the opening to a current staff of 73 people, is expected to add 40 new positions that include production and processing techs, engineering, data analysis, and statistician positions. Company leaders expect the expansion project to get underway in January and be completed by September 2021.
Founded in 2009, EnviroFlight produces sustainable insect ingredients designed for animal and plant nutrition with an emphasis on social responsibility and reducing the environmental and financial costs in developing a food supply.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $800,000 in tax incentives based on the company’s investment of $19.78 million and annual targets of:
- Creation and maintenance of 40 Kentucky-resident, full-time jobs across 15 years; and
- Paying an average hourly wage of $22 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
Additionally, KEDFA approved Enviroflight for up to $100,000 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.
In addition, Enviroflight can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training, and job training incentives.