FRANKFORT, Ky. – Three months ago, disaster struck Wholesale Hardwood Interiors Inc. in Campbellsville, when a fire broke out at the facility resulting in a near total loss. Today, Gov. Andy Beshear announced that the company is moving forward with plans to invest $7.1 million and create 100 full-time jobs, restoring the operation with additional space to accommodate recent and future growth.
The Campbellsville headquarters is home to the company’s office, warehouse and manufacturing business, providing high-quality interior wood products, such as mouldings, custom millwork, doors and stair parts.
Only 20,000 s.f. of the 120,000-s.f. facility was partially salvaged following the fire in December, with operations deemed a total loss. The company, now back in operation, plans to fully reestablish production with construction of a facility at the same location on the Campbellsville Bypass. Company leaders anticipate the facility to be functional immediately and fully operational within 12 to 18 months.
“Wholesale Hardwood Interiors Inc. has built its success and reputation upon dedication to high standards of quality, service and integrity,” said Mike Judd, president of WHI. “We are truly grateful for all of the assistance that we have received and are continuing to receive. This assistance, along with a truly dedicated group of employees and sales representatives, ensures that the best is yet to come.”
The Campbellsville-based company has been in operation since 1985, with 12 warehouse locations throughout Kentucky – in Bowling Green, Elizabethtown, Lexington, Louisville, Richmond and Walton – Indiana, Ohio and Tennessee. In total, those locations employ approximately 85 people, in addition to a sales team of nearly 30 people.
“We’re so pleased that WHI has chosen to reinvest in Taylor County,” said Taylor County Judge/Executive Barry Smith. “They’ve been a great company and concerned employer for over 35 years. We wish them continued success and growth for years to come.”
The Kentucky Economic Development Finance Authority (KEDFA) in January preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.8 million in tax incentives based on the company’s investment of $7.1 million and annual targets of:
- Creation and maintenance of 100 Kentucky-resident, full-time jobs across 15 years; and
- Paying an average hourly wage of $21 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 WHI or up to $200,000 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.
WHI also 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.