Will invest $3 million in two locations
FRANKFORT, Ky. (Dec. 10, 2015) — Commercial printing company Quad/Graphics will invest nearly $3 million and create 45 new full-time jobs by expanding at separate locations in Franklin and Versailles, Gov. Matt Bevin announced today.
At its Versailles location, Quad/Graphics will invest nearly $2.5 million, create 20 jobs and retain 468 others. In Franklin, it will invest nearly $480,000, create 25 jobs and retain 148 positions.
Quad/Graphics also plans to invest in plants it views as part of its long-term plan. The company’s retail-insert plant in Franklin and book production operation in Versailles are slated to receive continuing upgrades to ensure each maintains up-to-date technology, high production and efficient operations to provide customers with cost-effective service.
“A company planning to grow its business in Kentucky is always great news. Quad/Graphics’ decision to simultaneously expand two of its plants in the commonwealth is even better,” said Bevin. “As Quad/Graphics looks to consolidate its operations across the nation, it speaks volumes about Kentucky’s overall work environment that the company chose to expand both its Franklin and Versailles plants. We look forward to ensuring that our partnership grows deeper and stronger in the years ahead.”
Founded in 1971 in an abandoned millwork factory just west of Milwaukee, Quad/Graphics started with a rented printing press and a borrowed binder. The company, now based in Sussex, Wis., has since grown to become the second-largest provider of print and media solutions in the western hemisphere. It operates a network of printing plants spanning 28 U.S. states with more than 70 facilities employing 20,000-plus workers. At the forefront of innovation in the printing industry for nearly 45 years,
“Quad/Graphics is proud to be fortifying our presence in Kentucky,” said Joel Quadracci, chairman, president & CEO of Quad/Graphics. “We value this partnership with Gov. Bevin, the State of Kentucky and the local governments, which enables us invest in the talent and technology we need to continue delivering cost-effective, innovative solutions to marketers and publishers everywhere.”
To encourage Quad/Graphics’ investment and job growth in the state, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $400,000 through the Kentucky Business Investment program for the Franklin expansion and $400,000 for the Versailles project. 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, Quad/Graphics 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.