Will invest $25.2 million in project
FRANKFORT, Ky. (Nov. 9, 2015) — Florida Tile Inc., a manufacturer of porcelain tile, will expand its Lawrenceburg operation, adding 61 jobs through a $25.2 million investment, Gov. Steve Beshear announced today.
“This expansion further cements Florida Tile’s presence in Kentucky,” said Beshear. “The company located its headquarters in Lexington five years ago because its leaders recognized the opportunities available to businesses in the commonwealth. This expansion of its manufacturing and distribution operation in Lawrenceburg confirms the company made the right decision moving to Kentucky.”
The project will allow Florida Tile to add manufacturing lines and equipment at its existing manufacturing plant and a 215,200-s.f. expansion of its distribution center.
Florida Tile, founded in 1954 in Florida, is a subsidiary of Panariagroup Industrie Ceramiche S.P.A., an Italy-based manufacturer and marketer of flooring tiles. Florida Tile is a major producer of glazed and unglazed porcelain wall and floor tile. The company also imports and distributes these products, as well as ceramic, natural stone, glass and metal tiles. Florida Tile has been headquartered in Lexington since 2010.
In the past five years, more than 80 percent of Kentucky’s announced new investment and 70 percent of new jobs have come from expansion of existing businesses. Over that time, 80 percent of those announcements and 55 percent of new jobs are in the manufacturing sector.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $450,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, Florida Tile is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.