Plastic pipe company to create 125 new jobs
PADUCAH, Ky. (Sept. 29, 2014) – Genova Products Inc. is establishing operations in Paducah. The company, which manufactures PVC pipe and fittings, is expected to create 125 new jobs and invest $4.9 million into the project.
“This is an outstanding boost to the economy in Paducah and the Commonwealth,” said Gov. Steve Beshear. “Genova is a highly successful global firm, and we couldn’t be more excited about the 125 professional jobs it will create in western Kentucky. The choice to locate here says a lot about our business-friendly climate, ideal location and valuable workforce. We look forward to a continued and successful partnership with Genova and are pleased to welcome them to Kentucky.”
Genova makes plumbing and building materials, mostly from vinyl. The company is leasing a 100,000-s.f. factory that once housed Infiniti Plastic Technologies Inc. The company began operations at the facility last month and currently employs 15 people. Genova chose Paducah due to available land, low electricity costs and rail access.
“We are very excited about the opportunities that lie ahead for us in a partnership with the city of Paducah,” said Mike DeBoer, president of Genova Products. “This location and state-of-the-art facility provide us with a strategic opportunity to expand our production and distribution capacity to support the future growth initiatives underway at Genova. We have found the people of Paducah a delight to work with and are certain both parties will mutually benefit from this alliance.”
Genova has been making vinyl pipe and fittings for professional and do-it-yourself plumbers since 1962. The company expanded into vinyl gutters and fencing and now has a product line that includes vinyl downspouts, decks and rails; drinking water and sanitary systems for boats and RVs. Its products are sold at Ace, Blish-Mize, True Value and Do It Best hardware stores.
Genova was the first company to bring plastics into the plumbing industry in North America. The company currently has a total of five factories in Michigan, Minnesota, Indiana, Nevada and Texas and two warehouses in Indiana and Texas. Genova also has a location in Lithuania.
“Genova is a win-win for our community,” said Paducah Mayor Gayle Kaler. “This long-standing, family-owned company will create jobs in Paducah, be a sizable customer for Paducah Power, utilize the Paducah & Louisville Railway to transport inbound materials and create a positive cash flow stream to the city and county. The city is pleased to partner with the state, county, Paducah Economic Development and our other partners to make this deal happen.”
To encourage the investment and job growth in McCracken County, 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.