Projects would create 133 new jobs
LOUISVILLE, Ky. (March 28, 2013) — Three companies with plans to locate in Louisville were preliminarily approved for economic development incentives at Thursday morning’s meeting of the Kentucky Economic Development Finance Authority (KEDFA) in Frankfort, Ky. The projects would create 133 new jobs, more than $7.4 million in new annual payroll and nearly $13.2 million in new investment.
“These companies comprise a trio of excellent examples of how Louisville’s position as a leader in the logistics category is continuing to drive more and more distribution and logistics-related businesses,” said Mayor Greg Fischer. “The jobs and investments, as well as the continued success of the sector, are all real benefits for our community and represent an exciting boon for our local economy.”
Eurofins MWG Operon Inc.
Eurofins MWG Operon is a fully owned subsidiary of Eurofins Scientific, which is headquartered in Brussels, Belgium. With more than $1 billion in annual revenues and 12,000 employees in more than 170 laboratories across 32 countries, Eurofins Scientific is the world’s leader in food and pharmaceutical products testing. It is also number one in the field of environmental laboratory services and one of the global market leaders in agroscience, genomics and central laboratory services.
Because of its global assets, Eurofins is currently seeking a headquarters site that would provide the opportunity to partner with a major freight carrier, ideally in the carrier’s hub city. The benefits of a Eurofins move to Louisville would include significant employment opportunities for chemists and biologists, as well as staff support in logistics, IT and customer service. In addition, Eurofins plans continuing growth through development and acquisitions.
Within the first two years of operation, Eurofins estimates a total investment of $6 million in building materials and capital equipment. The project would add 80 new jobs with a total payroll of nearly $3.5 million by early 2014.
Eurofins was approved for up to $1.5 million in KBI* incentives for up to 10 years.
A&R Logistics, Inc.
A&R Logistics is the leading provider of bulk plastic and dry-flowable transportation and logistics services. Established in 1969 in Ottawa, Ill., A&R currently maintains its headquarters in Morris, Ill. A&R operates over 700 trucks, 1,000 pneumatic trailers and numerous strategically located packaging and warehouse facilities across the United States. To maximize efficiencies with growth through acquisitions, A&R has developed a two-phased approach to moving significant portions of its operations from its current headquarters as it transitions into fully relocating its corporate headquarters in the future.
In this pursuit, A&R is considering several cities to build Class A office space. The ideal location would offer the quality of life needed to attract and retain top talent, and competitive and acceptable operating costs.
A&R Logistics has estimated a total investment of $3 million in lease payments, leasehold improvements and capital equipment. The project would 50 new jobs by 2016 with an average wage of $75,000.
“We received word today that the Kentucky Economic Development Finance Authority has approved an attractive incentive program for our company,” said A&R Logistics President Richard Mitchell. “Kentucky is one of several locations we are considering and we continue to evaluate our options.”
A&R Logistics was approved for up to $1.5 million in KBI* incentives for up to 10 years.
SJ Paris Properties, LLC
SJ Paris Properties is a Kansas City, Mo.- based third party logistics company with leased operations already established in Louisville. SJ Paris is considering building its own operation within the Renaissance Zone Business Park South. Short term, the company plans to make significant physical improvements while simultaneously bidding on contracts that could escalate their continuing employment growth in Louisville.
Within the first two years of operation, SJ Properties estimates a total investment of nearly $4.2 million in building materials and capital equipment. The project would to add three new jobs with a total payroll of $105,018 by early 2015.
“We believe Louisville is key to the future of third party logistics providers and we hope to make an investment in that future,” said Joe Paris of SJ Paris Properties.
SJ Paris Properties was approved for a KEIA sales tax rebate of $100,000 at Thursday’s KEDFA meeting.
The partnership among Greater Louisville Inc. – The Metro Chamber of Commerce, Louisville Metro Government and state government brings new economic opportunities to the community. Through February 2013, the innovative public-private partnership has helped 13 companies locate new operations or expand existing ones in the area. These projects have created 781 new jobs at an average salary of $44,847 and more than $45 million in new capital investment.
*Kentucky Business Incentives consolidates KIDA, KREDA, KJDA & KEOZ into a single, more flexible tax incentive program for new and expanding businesses. This change was made in legislation passed during the 2009 Special Session of the Kentucky General Assembly. More information can be obtained at www.thinkkentucky.com.