Will create 200 jobs in Northern Kentucky
FRANKFORT, Ky. (Dec. 11, 2014) — Gov. Steve Beshear today announced that Archer Daniels Midland Company (ADM) plans to establish an IT center in Erlanger that will create 200 local jobs.
ADM recently purchased WILD Flavors GmbH, also in Erlanger. ADM plans to place the IT center inside an unoccupied building on WILD’s campus.
“We considered other locations, but in the end, co-locating this facility with our WILD Flavors offices in Erlanger offered us a wealth of advantages,” said Marty Schoenthaler, ADM chief information officer. “We will also be able to recruit from a strong local talent pool in Northern Kentucky, and we will have quick and easy access to a major airport. This is a great example of the many synergies that we’re realizing following the WILD acquisition.”
ADM is one of the world’s largest agricultural processors and food ingredient providers, with more than 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 470 crop procurement locations, 285 ingredient manufacturing facilities, 40 innovation centers and the world’s premier crop transportation network, ADM connects the harvest to the home, making products for food, animal feed, chemical and energy uses.
WILD Flavors is one of the world’s leading suppliers of natural ingredients to the food and beverage industry. WILD has been in operation northern Kentucky since 1994 and currently employs around 430 people.
To encourage the investment and job growth in northern Kentucky, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $5 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.
KEDFA also approved ADM for tax benefits up to $200,000 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.