Frankfort, Ky. – A $130 million investment Westlake Chemical Corporation plans to make across several plants at its integrated vinyls facility in Calvert City will remove bottlenecks and retain nearly 400 local employees.
Customers use the plant’s products to make a variety of construction materials including pipe, windows, fencing, decking and film. Westlake officials expect to start construction potentially as early as the end of the year.
“We are pleased about this investment in our Calvert City operations. Westlake Chemical has enjoyed a rewarding relationship with Kentucky for more than 25 years. These operations are a vital hub for our enterprise and we look forward to a continued beneficial partnership in the future,” said Albert Chao, Westlake president and chief executive officer.
The Calvert City project comes atop more than $550 million Westlake invested there during the past five years. The company employs 387 workers at the facility and an additional 150 full-time contractors.
“This investment by Westlake in Marshall County helps ensure a stable future for thousands of people in Western Kentucky directly and indirectly connected to the facility,” Gov. Bevin said. “Our administration is working to grow new opportunities for Kentuckians, and that starts with securing and retaining the jobs already here. I congratulate and thank Westlake for reaffirming its commitment to this region of the state.”
To encourage the investment and job retention at the plant, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Westlake in October 2015 for tax incentives up to $10 million through the Kentucky Reinvestment Act. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits by meeting certain investment and job retention targets.
In addition, Westlake 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.
For more information on Westlake Chemical, visit www.westlake.com.