FRANKFORT, Ky. — Span Tech LLC, which designs and produces plastic chain conveyor systems for manufacturers, plans to expand in Barren County with a $13.2 million investment expected to create 40 full-time jobs over the next 10 years.
Span Tech manufactures conveyor systems and other material handling technology for a wide range of industries. The company’s investment will include the purchase of 10 acres on Hilltopper Way and construction of a 100,000-square-foot production, warehouse and assembly operation there, as well as new equipment. The new facility will support Span Tech’s growth for new and existing customers and the introduction of a new guiderail product line. Company leaders anticipate work will begin on the project in the spring of 2021 with the move from their current facility on Cleveland Avenue to be completed by early 2022.
Span Tech opened in Glasgow in 1981 as a supplier of durable plastic chain conveyors and grew to serve an array of industries that includes food and beverage, manufacturing, packaging, distribution, cosmetics, pharmaceuticals, and e-commerce. Since opening nearly 40 years ago, the company grew from a staff of 11 to more than 90 associates. Span Tech continually invests in research and development to create innovative products.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $400,000 in tax incentives based on the company’s investment of $13.2 million and annual targets of:
- Creation and maintenance of 40 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $18 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.