LEXINGTON, Ky. (May 29, 2012) – Lexington-based Big Ass Fans will build a 72,000-square-foot facility in Lexington. The project will add 150 jobs and entail an $8 million investment.
“I’m delighted to see this expansion and witness the tremendous success of Big Ass Fans, a Kentucky-based company,” Beshear said during the announcement. “These new jobs will have a positive impact for the community, creating quality jobs in the Lexington area. I’m glad the Commonwealth could play a role in making this growth possible.”
The expansion includes 56,000 square feet for office space and 16,000 square feet for storage/warehouse space on Jaggie Fox Way in Lexington, where the company has an existing 45,000-square-foot research and testing facility. Big Ass Fans also plans to maintain its Lexington campus location off Winchester Road.
Founded in 1999, the HVLS (High Volume Low Speed) Fan Company changed its name to Big Ass Fans in 2002 and has become a leading manufacturer of ceiling fans for industrial, agricultural, commercial and residential customers. The fans range in size from 5 feet to 24 feet in diameter and use low horsepower motors to generate energy-efficient air movement for large spaces. There are more than 65,000 Big Ass Fans installed worldwide in locations such as manufacturing facilities, distribution centers, horse arenas, dairy barns, stadiums, restaurants, health clubs and homes.
“While our name may be funny, we take our business seriously,” said Carey Smith, president of Big Ass Fans. “Our company’s success can be credited, in large part, to the quality employees we have attracted and maintained in central Kentucky. Combining this pool of talent with products that really work has led to enormous success, which we’re proud to now reinvest back into the community.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $2 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved Big Ass Fans for tax benefits up to $210,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development, and electronic processing equipment.
“This announcement is good news for Lexington,” said Lexington Mayor Jim Gray. “We’re proud to be home to Big Ass Fans. They bring good jobs to our city, and we have citizens who need those jobs.”
For more information on Big Ass Fans, visit www.bigassfans.com.