FRANKFORT, Ky. (Aug. 22, 2012) — STC Management Group, which manages Sun Tan City and Planet Fitness businesses, will expand its footprint in Elizabethtown, adding up to 15 jobs at its headquarters and investing $350,000 in Kentucky.
“This is a proud day for Elizabethtown and the commonwealth, with the expansion of STC Management Group’s headquarters and the addition of 15 new professional jobs,” Gov. Steve Beshear said. “STC Management is really a brain trust for two brands, Sun Tan City and Planet Fitness, with facilities not only here in Kentucky but across the nation. Their growth is a testament to Kentucky’s pro-business climate and quality workforce.”
STC Management Group has been headquartered in Elizabethtown since 2004 and supports more than 40 business units for Sun Tan City within Kentucky and more than 170 business units in 17 other states. The headquarters also provides support for Planet Fitness, which has facilities in Kentucky and Indiana.
“We’re proud that our company and so many of its employees have Kentucky roots,” said Rick Kueber, CEO of STC Management. “We can attest the Kentucky Economic Development Cabinet is all about helping Kentucky businesses grow. It was a pleasure to work with their staff to obtain tax incentives that will help us continue investing in the commonwealth that we love.”
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $150,000 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.
“The city of Elizabethtown is very excited that STC Management Group has decided to expand its business here,” said Elizabethtown Mayor Tim Walker. “We are honored to have another business growing by leaps and bounds while adding jobs to the local community. This important investment shows STC Management’s continued support of the Elizabethtown area.”