Canadian company to invest more than $9.5 million
FRANKFORT, Ky. (March 29, 2013) — Macco Organiques Inc., a Canadian manufacturer of chlorides used in the food and pharmaceutical industries, plans to establish a production facility in Paducah. The project will create 40 new, full-time jobs and entail an investment of $9.55 million in the commonwealth.
“Macco Organiques is a global company with an ever-expanding list of products and applications,” said Gov. Steve Beshear. “The fact the company is from Canada, with distributors all over the world, makes us proud it chose Kentucky to create 40 new jobs and invest nearly $10 million, resulting in a substantial impact for the commonwealth and Paducah.”
Formed in Canada in 1986, Macco Organiques developed a revolutionary technology to dry and process ingredients into a dust-free powder. The company’s products have applications such as cosmetics, preservatives, food flavorings and even de-icing materials for airport runways.
Macco currently sells its products worldwide through distributors in North America, South America, Europe, Japan, South East Asia, Australia and New Zealand. The company considered Kentucky for an expansion for logistical purposes, as well as an opportunity to meet growing global demand.
“Macco is excited about opening our Paducah location,” said Macco President Robert Briscoe. “Paducah is in the center of our U.S. market, and we were very impressed with the community and its leaders through all of our discussions.”
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
“We are proud to partner with McCracken County and Macco to create 40 jobs in our spec building,” said Paducah Mayor Gayle Kaler. “Macco has a 25-year track record of success, and we feel they will be an asset in our industrial park and will be a part of Paducah’s growth for many years.”
For more information on Macco, visit www.macco.cz.