LOUISVILLE, Ky. (Aug. 29, 2013) — Churchill Downs and four other companies were approved for economic development incentives at this morning’s meeting of the Kentucky Economic Development Finance Authority (KEDFA) in Frankfort, Ky. The projects would create 173 new jobs, more than $11 million in new annual payroll and more than $17.9 million in new investment.
“The increased jobs and capital investments that each of these companies represent are clear indicators of Louisville’s capacity to grow and maintain a healthy and vibrant regional economy,” said Louisville Mayor Greg Fischer. “In addition, we can look forward to sharing and enhancing our community’s terrific quality of life as a result of this very positive economic activity.”
Filtrona LLC (dba Alliance Plastics)
Filtrona Plastics LLC, currently doing business as Alliance Plastics, is a leading manufacturer and distributor of injection molded and vinyl dip molded proprietary and custom plastic protection solutions, finishing products, pipe and flange protection, high-temperature masking products, hose protection and security products to a very diverse set of customers in a wide variety of industries. Based in Erie, Penn., the company operates manufacturing and distribution centers throughout the United States, Canada and Brazil that stock over 200 million proprietary parts available for immediate shipment.
The company is adding a new distribution facility so that it can improve its service to its customers. The new facility will serve as a central point for shipping and receiving for the company to its customers and existing, smaller regional distribution sites. Market centrality, proximity to UPS, and Free Trade Zone status are the primary reasons the Jefferson Riverport in Louisville is being considered.
Within the first two years of operation, Filtrona would make an estimated total investment of $4.1 million in building materials and capital equipment. In addition, the project would add 28 jobs with a total payroll of $1.03 million by late 2015.
Filtrona, LLC was approved for up to $350,000 in KBI* incentives for up to 10 year.
M&M Cartage Co.
M&M Cartage Co. is a family owned and operated business based in Louisville that provides high quality transportation and logistical services. The company, which currently employs 250, serves both regional and national customers, including many companies in Indiana, Kentucky and Ohio. M&M plans to purchase land and construct a new facility that will serve as the new corporate headquarters of the company and the hub of the trucking fleet.
M&M Cartage would invest a total of $7.5 million in building materials and capital equipment. The expansion would add 45 new jobs with a total payroll of nearly $1.8 million.
M&M Cartage Co. Inc. was approved for $650,000 in KBI incentives for up to 10 years and $150,000 in KEIA incentives.
Whole Alternatives LLC
Whole Alternatives LLC is a certified organic private-label food supplier operating in Louisville since 1985, when the modern organic movement began. Whole Alternatives, which currently employs 44, is a family-owned and operated source for many organic and natural food products packed for some of North America’s largest retailers, wholesalers and distributors. The company’s central location in the nation’s heartland gives it the capacity to strategically ship product anywhere in the country.
Operating from a 250,000 s.f. facility and utilizing highly efficient, high speed packaging equipment, Whole Alternatives is a diversified agricultural production, manufacturing and distribution corporation, specializing in organically grown edible seeds and beans, and other organic specialty products. The company seeks to expand its food packaging operations, which will involve purchasing additional machinery and other food handling equipment. Plans also call for various interior building improvements to accommodate the added equipment and personnel.
Within the first two years of operation, the company would invest a total of nearly $1.2 million in building materials and capital equipment. In addition, Whole Alternatives would create 25 new jobs with a total payroll of $660,400 by late 2015.
Whole Alternatives LLC was approved for up to $250,000 in KBI* incentives for up to 10 years.
Trilogy Investors LLC (dba Trilogy Health Services LLC)
Trilogy Investors LLC (dba Trilogy Health Services LLC) is a customer-service focused provider of senior living and long-term healthcare services and currently employs 119 employees in Louisville. Trilogy healthcare communities offer a full range of personalized services, from independent and assisted living, to skilled nursing and rehabilitative services. Trilogy currently operates 75 healthcare campuses throughout Kentucky, Indiana, Ohio, Michigan and Illinois with several additional projects at various stages of development.
The success and growth of the company has resulted in the the continuing evaluation of existing resources and the need for possible expansion in the areas of corporate office space, technology infrastructure and additional leadership support. The company is considering hiring a number of new headquarters personnel who would be responsible for accounting, clinical support, and leadership development.
Within the first two years of operation, Trilogy would invest a total of $1.1 million in building materials and capital equipment. In addition, the company would add 25 new jobs with a total estimated payroll of $1.3 million by late 2015.
Trilogy was approved for up to $300,000 in KBI* incentives for up to 10 years.
Churchill Downs Inc.
The parent company of Churchill Downs racetrack, Churchill Downs Inc. (CDI), is a multi-jurisdictional gaming entertainment company that owns and operates five racetracks, six casinos, and the country’s largest on-line horseracing wagering site, Twinsipires.com. CDI is exploring additional on-line gaming opportunities in the wake of a December 2011, Department of Justice opinion letter that opened the door for states to authorize and regulate lottery, poker and casino games on an intrastate basis.
CDI’s proposed Louisville expansion would require an investment of $4 million in office lease expenses and capital equipment. It would add up to 50 new jobs with an average annual salary in excess of $100,000. CDI’s current on-line businesses, Twinspires.com and Bluff media, are located in Mountain View, Calif., and Atlanta, Ga., respectively.
Churchill Downs Inc. was approved for up to $1 million in KBI* incentives for up to 10 years.
The partnership between Greater Louisville Inc., Louisville Metro Government and the state government brings new economic opportunities to the community. Through July 2013, the innovative public-private partnership has helped 44 companies locate new operations or expand existing ones in the area. These projects have created 2,483 new jobs at an average salary of $46,257 and more than $316 million in new capital investment.