Big Ass Fans, a Lexington-based company that produces ultra-large ceiling fans, is investing $8 million in an expansion project that will add 150 new jobs.
The 72,000-s.f. project will include 56,000 s.f. of office space and 16,000 s.f. of storage and warehouse space on Jaggie Fox Way in Lexington, where the company has an existing 45,000-s.f. research and testing facility. The company also plans to maintain its Lexington campus location off Winchester Road.
Founded in 1999, Big Ass Fans started out as the HVLS (High Volume Low Speed) Fan Co. before changing to its current name 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 now 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.
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.