Company to add 15 jobs, invest $3.6 million
WINCHESTER, Ky. (July 1, 2013) – Gov. Steve Beshear on Monday joined company and local officials in Winchester to break ground on an expansion for J&T Munitions, doing business as J&T Distributing. The company plans to add 15 full-time jobs and invest more than $3.6 million in the commonwealth.
“We’re glad to see J&T Distributing add 15 new jobs and invest $3.6 million in this expansion in Winchester,” Beshear said. “This expansion shows the company’s dedication to remain a leader in a highly competitive industry.”
Established in 1980, J&T Distributing manufactures high-quality firearm parts and accessories for firearm manufacturers, commercial markets and law enforcement markets across the United States. The expansion includes the addition of a third manufacturing facility on Fortune Drive, joining current locations on Tech Drive and Bybee Road in Winchester, which have a combined total of about 50 employees.
“Building this new facility is a dream come true,” said Stacy Starnes, chief financial officer of J&T Distributing. “The J&T family of companies strives to expand business while helping our community. This venture accomplishes both. With new technology and room to grow, the J&T family of companies will be poised to increase our market share as well as our workforce. This groundbreaking is the beginning of an exciting future.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $200,000 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.
KEDFA also approved J&T Distributing for tax benefits up to $50,000 through the Kentucky Enterprise Initiative 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.
“It is exciting to be part of another important announcement regarding job creation here in Clark County, especially when it comes from one of your own homegrown businesses,” said Clark County Judge-Executive Henry Branham. “We are all proud of what the Starnes family has accomplished with this, their second expansion and third building. Their entrepreneurial spirit embodies what economic development is all about.”
For more information on J&T Distributing, visit www.jtfoc.com.
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