Frankfort, Ky. –Â The Kentucky Economic Development Finance Authority board approved millions of dollars worth of tax incentives for businesses across the state at its monthly meeting Jan. 28.
Projects approved for tax incentives include:
General Motors in Bowling Green was approved for $1 million in incentives for the expansion of its current facility by adding a new paint shop operation to enhance the paint quality of its vehicles. General Motors’ total investment in the project is almost $400 million.
Tower Automotive Operations in Bardstown has been approved for $200,000 in incentives for the expansion of its current facility to include press capacity, an additional storage and shipping space. Tower Automotive manufactures metal components and assemblies for the automotive industry. The company’s total investment would be nearly $18 million.
Clariant has been approved for $800,000 in incentives to relocate its production of the Ziegler-Natta catalyst from China to Louisville. In total, the company would be investing over $100 million in a state of the art production line, creating over 40 full-time jobs.
Messier-Bugatti USA has been approved for $2.5 million over 10 years, as well as another $1 million, in incentives for the expansion of its existing facility in Walton. Messier-Bugatti produces and refurbishes advanced carbon composite brake disks and produces aluminum alloy wheels and brakes for large commercial and military aircraft. The company’s total investment in the project would be over $150 million. The company plans to create 84 jobs with the investment.
Coldstream Laboratories has been approved for $800,000 in incentives over 10 years, as well as another $140,000, for the expansion of its manufacturing line in Lexington. The company would be investing nearly $13 million in the project, which would involve procurement of two new filing lines and various other pieces of equipment to improve efficiency and increase capacity. Coldstream is a contract manufacturer engaged in development and production of injectable pharmaceuticals. The project would create 40 new jobs.
Precision Strip has been approved for $400,000 in incentives to add a second manufacturing facility in Bowling Green. Precision Strip it a toll processor of metals that cuts blank large coils of steel and aluminum into various widths and shapes for customers. The company’s total investment in the second facility would be $15.5 million. The project would create 15 new jobs.
Custom Resins has been approved for $700,000 over 10 years, as well as another $200,00, in incentives for the expansion of its facility in Henderson. Custom Resins produces nylon resins for injection molding and other applications in the automotive industry. The expansion, which would cost over $12 million and create 40 jobs, would add building space for more equipment.
BlueCotton has been approved for $900,000 in incentives over 10 years for the expansion of its existing operations in Bowling Green. BlueCotton is a screen-printing and embroidery business ranked as one of the fastest growing private companies in the Inc. 5000. The project would cost over $5.5 million and create 94 jobs.
Bluegrass Supply Chain Services has been approved for $800,000 in incentives over 10 years to build a new warehousing and distribution facility in Horse Cave. The company offers customers value added solutions to their supply chain needs. The project would cost over $8.5 million and create 37 new jobs.
Core-Mark International has been approved for $1.2 million in incentives over 10 years to add additional lines to its current Leitchfield operation. The company is a large distributor of fresh and frozen merchandise in the convenient store market. The project would cost over $3 million and create 76 jobs.
Protech Industries has been approved for $450,000 in incentives over 10 years to build a new facility in Hardinsburg in order to meet customer demand. Protech is a start-up that will assemble lida-anodes for the oil and gas industry. The project would cost $871,000 and create 20 jobs.
Evolent Health has been approved for $10 million in incentives over 10 years to create a Medicaid Center of Excellence in Louisville to serve as the regional headquarters for its national Medicaid business. Evolent Health is a leading provider of population health services to provider-sponsored health plan clients across the country. The project would cost over $40 million and create 647 new jobs after four years.
FarmedHere has been approved for $400,000 in incentives to expand its operations to Louisville. FarmedHere is a vertical “urban” farming operation that grows USDA Organic basil and leafy greens and manufactures vinaigrette salad dressing, and distributes its products to stores throughouth the Midwest. The project would cost over $23 million and create 40 jobs.
GreenTree Forest Products has been approved for $200,000 in incentives to purchase new equipment and increase production at its Wallingford facility. GreenTree has been doing business in Wallingford for 25 years and operates a sawmill and pallet facility. The project would cost over $2 million and create 10 new jobs.
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