Cookie, cracker producer to invest $57.1 million in Woodford County
FRANKFORT, Ky. (July 11, 2016) – Gov. Matt Bevin today joined local officials and representatives from More Than A Bakery LLC., an extension of a century-old family business based in Indiana, to break ground on a 310-employee facility in Versailles.
More Than A Bakery, affiliated with Richmond Baking Co., plans to invest about $57.1 million in its new operation. The bakery will produce cookies, crackers and other baked goods by contract for major food brands and retailers.
“Today is a significant day for More Than A Bakery and the people of Woodford County,” said Gov. Bevin. “The promise of 310 jobs gives us reason to celebrate. The company’s significant investment in the local economy makes this groundbreaking event all the sweeter. We appreciate the determination and growth of multi-generational family companies like Richmond Baking and wish the company many years of continued success.”
Construction of More Than A Bakery’s 250,000- to 300,000-square-foot building at Big Sink Road and Fieldview Drive in Versailles will begin in mid-August and company leaders expect the facility to open by the end of 2017. The plant will locate on more than 100 acres to allow for future expansion. More Than A Bakery represents Richmond Baking’s third world-class bakery and distribution operation.
“Our family members are very excited about this new facility in Woodford County. This bakery will allow us to expand our capacity, serve our customers and create a very unique work experience for the citizens of this region. We plan to be a good neighbor in this area for quite a long time,” said Bill Quigg, president of Richmond Baking.
The Quigg family purchased a neighborhood bakery in Richmond, Ind. in 1902 which produced cookies, breads and cakes. The bakery traces its beginnings back to 1855 with the opening of David Hoerner’s bakery. The Quiggs grew the company nationally adding operations in Richmond, Ind. and Alma, Ga. employing nearly 350 workers.
Throughout the decades, the company gained expertise in breading systems, dessert crumbs, ice-cream inclusions, contract baking and packaging services. Richmond Baking’s customers include Fortune 100 food brands, grocery and convenience store chains, school cafeterias and national food-service companies.
Sen. Julian Carroll, of Frankfort, welcomed More than A Bakery and said he looks forward to building a relationship with the company.
“I join the Woodford County community in welcoming More Than A Bakery to Versailles,” Sen. Carroll said. “Our community stands ready to fill the more than 300 anticipated jobs with dedicated and skilled workers and we appreciate the investment in our community. We welcome this growth and look forward to a long and profitable relationship.”
Rep. James Kay, of Versailles, said the arrival of More Than A Bakery showcases the region’s ability to support business.
“This is a great day for Versailles and all of Woodford County and is further proof that we have everything a business needs to thrive in today’s economy,” Rep. Kay said. “We have a workforce and quality of life that are second to none, and we have local and state leaders who are committed to working together to help businesses like More Than A Bakery succeed. On behalf of the great people I represent, I want to thank the Quiggs and the More Than A Bakery family for making our community their new home. We are proud to welcome them here and look forward to a great partnership for generations to come.”
Versailles Mayor Brian Traugott described today’s event as a “high point” in the community’s effort to boost economic development.
“This is a great day for Versailles and all of Woodford County, and will be long-remembered as a high point in our ongoing efforts to increase economic development,” Mayor Traugott said. “This company is a perfect match for our community, because we are both committed to doing things the right way; we value our workforce; and we are always striving to be the best. I’m proud to welcome them here and look forward to working with them in the years ahead.”
Woodford County Judge-Executive John Coyle expressed his gratitude for the project and said it took a team effort.
“Today is a blessed day for Woodford County and its citizens. We are so grateful and have many people to thank who made this day possible,” Judge Coyle said. “First and foremost, we would like to thank Mr. Bill Quigg and his More Than A Bakery family. Mr. Quigg informs us over 40 communities were visited during the site selection process before Versailles was chosen to locate its new operations. We also want to recognize Gov. Matt Bevin and the Cabinet for Economic Development for their hard work. And lastly, our own Woodford Economic Development Authority, who worked nearly two years hosting and presenting our community to this new industry. Thank you and welcome More Than A Bakery to our corporate family!”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in February preliminarily approved the company for tax incentives up to $8 million 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.
Additionally, KEDFA approved More Than A Bakery for up to $700,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
More Than A Bakery can also 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.
A detailed community profile for Versailles (Woodford County) can be viewed at www.bit.ly/WoodfordCoKy.