Will create 110 new jobs
FRANKFORT, Ky. (Nov. 11, 2014) — Gov. Steve Beshear today announced that Riverine Fisheries International LLC plans to build a fish processing operation in Fulton County.
Riverine Fisheries will catch, clean, process, package and transport various species of Asian carp found in Kentucky’s waters. The company plans to create 110 new jobs and invest $18.7 million into the project.
“Not only will Riverine Fisheries create new jobs and boost Kentucky exports, but it also will help to control Asian carp,” Beshear said. “I want to thank the company for locating in the commonwealth, and I look forward to seeing its operation in action and its products being shipped around the world.”
The company has purchased a 75,000-s.f. industrial building and also is mooring a self-contained processing vessel in the Mississippi River harbor in Hickman.
Riverine Fisheries plans to catch Asian carp using equipment and technologies that have proven successful in the challenging Pacific Northwest and Alaska fishing industries. Once the carp are harvested, the company will use the ship to process the fish into commercially viable products, such as surimi (imitation seafood), fishmeal, fish oil, mince and fillets. These products will be shipped to every major market in the world.
Riverine Fisheries will focus on Asian carp that are invading Kentucky Lake, the Mississippi River, Cumberland River, Cumberland River and Tennessee River. In addition to targeting Asian carp the company will also process other seafood products brought in from other areas of the U.S.
To encourage the investment and job growth in Hickman, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives of up to $3.8 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.