Limestone product manufacturer to invest $1.4 million
EDDYVILLE, Ky. (Aug. 23, 2012) —H&G Limestone Products LLC plans to begin operations in Lyon County. The company will invest $1.4 million to purchase equipment and build a 22,500-square-foot processing plant that will result in 10 new jobs.
“There’s a great excitement that comes with a new business location, especially one as promising as H&G Limestone Products,” said Gov. Steve Beshear. “I’m pleased Kentucky could partner with H&G to help create 10 new, full-time jobs and encourage this investment in Lyon County.”
H&G Limestone produces a very fine powder-like material from limestone that is used, among other things, in the manufacturing process for roofing shingles. The most recent use found for the product is as a calcium supplement in all sorts of animal food. The demand for this food supplement is the reason for the new plant going up in Lyon County.
The owners include a father and son and two brothers with a combined 163 years of industry experience. Brothers Don and Bob Hastie have been involved in mining and quarry operations on family-owned land since 1964. In 2008, they formed H&G along with Vernon Gilland, who has worked in every role in quarry operations since 1964. His son, Jonathan Gilland, now serves as general manager of H&G Limestone.
“We’re excited about the future of H&G Limestone here in Kentucky and really appreciate the partnership we have with the commonwealth,” said Jonathan Gilland, general manager of H&G Limestone. “We love this area and look forward to many more years of growth and success in Lyon County.”
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $300,000 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.
“It’s a great day in Lyon County when we can announce the creation of jobs in the community, especially manufacturing jobs,” said Lyon County Judge-Executive Wade White. “We welcome H&G Limestone Products to our county and look forward to our relationship with them as they grow and prosper.”