Projects could create 127 new jobs
FRANKFORT, Ky. (June 28, 2012) — Five companies considering Louisville for expansions or new locations were preliminarily approved for economic development incentives at this morning’s meeting of the Kentucky Economic Development Finance Authority (KEDFA). The projects could create 127 new jobs, $5.7 million in new annual payroll and $23.9 million in new investment.
“This month’s applicants demonstrate the confidence that Louisville businesses have in our community, with several young companies wanting to expand their operations here, as well as companies looking at Louisville and Kentucky for the first time,” said Mayor Greg Fischer. “These new jobs and investment in corporate headquarters and manufacturing will be a further welcome boost for our local and regional economy.”
Boyd Company, LLC
Boyd Company, LLC owns several businesses, including; Whayne Supply Company, Cecil I. Walker Machinery Co, and Sitech Mid-South. Whayne Supply and Walker Machinery distributes, services and supports Caterpillar and several other lines of equipment throughout most of Kentucky and West Virginia, as well as Southern Indiana and Southern Ohio. Sitech Mid-South distributes, services and supports Trimble’s Sitech line of heavy/highway machine controls throughout most of Kentucky and West Virginia, as well as portions of several other states.
Boyd Company is considering the establishment of a corporate headquarters for these newly affiliated entities and is considering the purchase of a building in Jeffersontown to consolidate certain executive management functions.
If the project moves forward, the company anticipates that within the first two years of operation, it would invest a total of $4 million in building and capital equipment. The plans would add 35 jobs with a total payroll of $1.8 million by 2Q2014.
The company was preliminarily approved for up to $650,000 in Kentucky Business Investment (KBI) incentives over a 10-year term.
Hoskin and Muir, Inc. — DBA Cardinal Shower Enclosures
Hoskin and Muir, Inc. — DBA Cardinal Shower Enclosures is a full service manufacturer of shower enclosures. The company was established in California in 1948 as a supplier of aluminum extrusions for architectural and building purposes. In addition to the Kentucky plant, the company has operations in California, Texas, Nevada, Massachusetts and Hawaii. It is planning to expand one of the facilities in the next 6 to 9 months to accommodate a new line of products for implementation in the building industry. The expansion will allow the company to enter a market that is considerably larger than the shower door market.
If the project moves forward, the company anticipates that within the first two years of operation, it would invest a total of $5.6 million in building materials and capital equipment. The plans would add 30 jobs with a total payroll of $1 million by 2Q2014.
The company was preliminary approved for up to $450,000 in Kentucky Business Investment (KBI) incentives over a 10-year term.
Michter’s Distillery LLC
Michter’s Distillery LLC owns the historic Fort Nelson Building at 801 West Main Street in Louisville and is renovating that site as a small-batch distillery and educational tourist facility. The proposed New Millennium project is separate and distinct from the Fort Nelson project.
The Michter’s brand is expanding and the product has experienced growth in popularity and demand. The New Millennium project will provide much needed bottling and distilling capacity, as well as the ability to control different aspects of Michter’s production in order to maintain the top shelf nature of their products.
It is the company’s intention to purchase and renovate the former Caldwell Industries manufacturing plant on New Millennium Drive in Shively. This will allow Michter’s to increase production to meet demand. The distillery will eventually include up to two bottling lines, a small pot still for the development of new products, a 3-column still for expanded productions, grain handling equipment, and barrel storage. The project may also include a souvenir/gift shop and a product tasting facility.
If Louisville is selected, the company has estimated it will invest$10.9 million in building materials and capital equipment within the first two years of operation. The location would create 26 jobs with a total payroll of $952,889.60 by 2Q2014.
Michter’s Disillery LLC was preliminarily approved for up to $500,000 in Kentucky Business Investment (KBI) incentives over a 10-year term and $60,000 through the Kentucky Enterprise Initiative Act (KEIA).
Theta Tech Solutions LLC
Theta Tech Solutions is engaged in developing disruptive technologies which enable revolutionary advancement in mature and emerging industry. With broad multidisciplinary expertise, Theta Tech Solutions is endeavoring to develop unique solutions in hybrid power systems, unmanned aerial vehicles (UAVs), robotic systems, advanced materials, and manufacturing services. Theta Tech’s goal is to take new technologies beyond theory, and develop inoperative products, ready for production.
Founded in 2011, Theta Tech is a young, expanding company that is in search of a vibrant city to locate its engineering development headquarters and rapid prototyping facilities.
If Louisville is selected, Theta Tech Solutions estimates it will invest $1.2 million in building materials and capital equipment within the first two years of operation. The location would also add 21 jobs with a total payroll of $1.4 million by 2Q2014.
Theta Tech Solutions LLC was preliminarily approved for up to $525,000 in Kentucky Business Investment (KBI) incentives over a 10-year term.
Venchurs Vehicle Systems, LLC
Venchurs, Inc. is made up of two main divisions, Venchurs Packaging and Venchurs Vehicle Systems. Venchurs Packaging provides a full range of supply chain management services for inventory handling, processing and enhancement. Services include packaging and kitting, assembly, reverse logistics, order fulfillment, supply chain management and specialty services.
Venchurs Vehicle Systems will incorporate a variety of programs including VWerks, a turn-key hero build/customized themed vehicle program, a dealer direct specialty vehicle program, and QVM (Qualified Vehicle Modifier) CNG conversions for Ford.
The project they are proposing for the Louisville center will be comprised of fleet vehicles for major energy customers. The vehicles will come directly from the Ford Kentucky truck plant and will be converted and modified for the end customer. In addition, they are in the negotiation process for determining an additional bailment program with another automotive industry leader. This project will contribute to the employment and investment in the Louisville area.
If the project moves forward, the company anticipates that within the first two years of operation, it would invest a total of more than $2.1 million in building materials and capital equipment. The plans would add 15 jobs with a total payroll of $655,200 by 2Q2014
Venchurs Inc. was preliminarily approved for up to $200,000 in Kentucky Business Investment (KBI) incentives over a 10-year term.