Expansion represents 76 jobs, $220 million investment
HARRODSBURG, Ky. (March 7, 2013) – Wausau Paper in Harrodsburg today celebrated a ribbon cutting for the company’s $220 million expansion, representing 76 new, full-time jobs.
Wausau Paper has produced towel and tissue paper products at its Harrodsburg plant since 1990. The company’s latest expansion included the installation of a new, 138-ton machine that can produce about 75,000 tons of towel and tissue products per year. With the addition of the 76 new, full time jobs, the plant now employs more than 470 people.
“Wausau Paper’s expansion is not only a tangible investment in Kentucky’s economy, but also a vote of confidence in the workforce of this region,” said Cabinet forEconomic Development Secretary Larry Hayes Hayes, who attended the event. “We’re pleased to partner with Wausau to see the company expand and adapt to meet the challenges in such a competitive industry.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Wausau Paper for tax incentives up to $6 million through the Kentucky Business Investment program. The performance-based incentive allows the company to keep a portion of its investment over a 10-year period through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also preliminarily approved Wausau Paper for tax benefits up to $1.1 million through the Kentucky Enterprise Investment Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
“Any mayor would be thrilled to have a company like Wausau Paper in their community,” said Harrodsburg Mayor Eddie Long. “The fact they have chosen Harrodsburg for this investment is very gratifying, because it shows they have confidence in our city.”
“Wausau Paper has been an outstanding corporate citizen in Mercer County for over 20 years,” said Mercer County Judge-Executive Milward Dedman. “We are very excited that this large investment means even more employment opportunities for decades to come.”
For more information on Wausau Paper, visit www.wausaupaper.com.
Add Comment