Will transform lumberyard into new business
FRANKFORT, Ky. (Feb. 29, 2016) — A $1.1 million investment will transform a five-building former lumberyard in Sturgis into The Wood Mill, Inc., a 30-job manufacturing venture, Gov. Matt Bevin announced today.
Production at The Wood Mill could start in June following renovations to existing lumberyard buildings and installation of equipment. The Wood Mill will produce pallets for the coal industry and use a hammer mill to process smaller branches for chips and fiber. Larger branches will get split into firewood and heat treated to meet certifications for out-of-state transport. In addition to pallets and railroad ties, the facility will produce heat-treated firewood, saw dust for sale to local farms and crafted wood specialty products.
The family-owned business plans to log their own land and purchase logs from local individuals and companies. The group co-owns H&H Timber and a scrap-metal business, Hutchison & Hopper, LLC. Co-owners Amy and Jim Hutchison own Hutchison Trucking, which primarily hauls for local coal companies.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved The Wood Mill for tax incentives up to $460,000 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, The Wood Mill 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.