13 Companies Approved For State Economic Incentives
Thirteen companies have been approved for incentives for various projects in Louisville by the Kentucky Economic Development Finance Authority, and officials say 658 new jobs will be created if the companies follow through with their plans.Seven of the projects involve companies that are considering opening a new facility in Louisville; the six others are existing Louisville-based companies considering an expansion of operations here.Among the new companies considering Louisville is Loews Hotels, which is looking at several locations to consolidate its accounting operations and would create 187 jobs. Another firm, Signature HealthCARE, based in Florida, is considering moving its headquarters to Louisville, which could create 121 jobs.The finance authority approved the incentives during a meeting Thursday in Frankfort.More details are in this release from KEDFAThirteen companies were approved for incentives at this morning’s Kentucky Economic Development Finance Authority Meeting in Frankfort. Seven of the projects are companies considering opening a new facility in Louisville and six are existing Louisville-based companies, already employing 956, who are considering an expansion of their operations here. The projects represent investment of $79.2 million, and would create 658 new jobs and more than $26.5 million in new annual payroll.“This is the largest number of projects we’ve brought to the state for incentives in many years — and it shows that, even in this down economy, Louisville is working diligently to attract new jobs and investments,” said Mayor Jerry Abramson. “I am hopeful that most of these companies will choose Possibility City for their expansions and investments.”Loews Hotels, Inc.Loews Hotels is a leader in luxury hotel accommodations, operating 20 upscale hotels located in the U.S. and Canada, including The Regency in New York City, the Santa Monica Beach Hotel in California and Quebec City’s Le Concorde. It also manages resort locations and hotels operated in conjunction with the Hard Rock Café and Universal Studios’ theme parks. Loews Hotels is a subsidiary of Loews Corporation, one of the largest diversified corporations in the United States.Loews Hotels is considering several locations for a new Shared Services Center (SSC) to reduce costs and enhance efficiency. The SSC would serve to consolidate the company’s internal accounting services, which are currently decentralized in 20 locations across the U.S. The SSC project would be an investment of $1.9 million in capital improvements and would create 187 jobs and new annual payroll of $5.9 million.Loews Hotels was approved for up to $3 million in KBI* incentives for up to 10 years.- more -Signature HealthCARE, LLCSignature HealthCARE is a Palm Beach, Florida-based nursing home and rehabilitation facility operator. Through its network of affiliates, Signature provides support to more than 60 nursing home facilities in seven states, making it one of the largest nursing home operator in the U.S. With annual revenues in excess of $500 million – an increase of more than 50 percent in 2008, Signature was named by Inc. magazine as an Inc. 5000 company.Signature HealthCARE is considering the relocation of its headquarters to Louisville, which would represent an investment of nearly $5.4 million and create 121 jobs and new annual payroll of $7 million. Signature HealthCARE was approved for up to $4 million in KBI* incentives for up to 10 years.E. Joseph Steier, III, President & CEO of Signature HealthCARE, states, “Signature HealthCARE is a unique organization that believes it can radically change long term care in this country through its key organizational pillars: spirituality, learning, and intra-preneurship. As the management team assessed many potential areas for its new national headquarters, the team was extremely impressed with the collaboration between both the State of Kentucky and the Louisville metro area leaders in showcasing Louisville as one of the best places to do business anywhere in America. The city will provide a great central location with one of the best quality of life environments for families, rich university partnerships, and an amazing talent pool to aggressively grow the organization to remain a national leader. Given the economics today, companies are facing a tough challenge when considering relocating their corporate headquarters especially with the current housing market. We welcome the incentive package as a means to facilitate our potential move from South Florida, provided we can finalize an innovative corporate site to reinforce our organizational pillars. We are truly excited about the possibility of calling Louisville our permanent home!”TRAX Mechanical SystemsTRAX Mechanical Systems is a recently organized company that will manufacture and sell components and systems for heavy commercial vehicles, such as trucks, trailers and buses. It addresses the needs of both OEM production and aftermarket segments in North America. Initially, the company will focus on final assembly of trailer axles with components acquired from other suppliers and in the re-manufacturing of brake shoes and linings with additional products and services to be added later.TRAX is considering opening and operating the new facility in Louisville. It would be an investment of nearly $4.4 million and create 100 jobs and nearly $3.4 million in new annual payroll.TRAX Mechanical Systems was approved for up to $2 million in KBI* incentives for up to 10 years.- more -Bio Pharma Logistics, LLCBio Pharma Logistics was established in 2007 to operate as a third party logistics provider dedicated to the pharmaceutical and bio-pharma industries. The company contracts with pharmaceutical manufacturers and blood banks for transportation and storage of blood plasma and pharmaceutical products from all over the U.S. It also works with foreign bio-pharma companies to distribute their finished products to various customers in the U.S. Bio Pharma Logistics would like to build a state-of-the art cold storage facility from which to operate. Louisville is under consideration for the facility, which would be an investment of $5.8 million and create 25 jobs and new annual payroll of more than $859,000. Bio Pharma Logistics was approved for up to $350,000 in KBI* incentives for up to 10 years and up to $150,000 in a KEIA sales tax rebate.RPD Manufacturing, LLCRPD Manufacturing is a new corporation created by previous employees of HESCO Parts, LLC. HESCO Parts, of Louisville, Kentucky was a Ford authorized re-manufacturer of automotive parts. HESCO ceased operations in August 2009. RPD Manufacturing has received commitments from several international companies to supply re-manufactured A/C compressors, starters, alternators and vacuum pumps.The company is seeking to launch the new corporation and begin operations in January 2010 and is considering Louisville for its facility. The project would be an investment of $1.2 million and create 25 jobs and new annual payroll of $822,769. RPD Manufacturing was approved for up to $500,000 in KBI* incentives for up to 10 years.“We are very appreciative of the KBI incentives that RPD Manufacturing has been awarded and the potential of a long and prosperous future in Kentucky,” said company spokesperson Bob Mengelberg.White Energy Technology Riverport, LLC White Energy Technology Riverport is planning to build an advanced, clean energy facility to produce alternative fuel for use in power generation. The fuel would be developed from biomass, waste from coal fires and other renewable resources. Phase 1 of the project would generate more than 250,000 tons of upgraded coal per year. White Energy Technology Riverport is considering Louisville for its new facility. The project would be an investment of more than $47 million and create 17 jobs and new annual payroll of nearly $1.3 million.White Energy Technology Riverport was approved for a $48.5 million Industrial Revenue Bond.- more -Liberty Processing & Services Innovation, LLCLiberty Processing & Services Innovation is a start-up operation in the check clearing services industry. The company would provide solutions for check processing logistics nationwide.Liberty Processing & Services Innovation is considering location of its operations in Louisville to leverage the proximity to UPS’s air service. The project would be an investment of $1.4 million and create 15 jobs and more than $600,000 in new payroll.Liberty Processing & Services Innovation was approved for up to $150,000 in KBI* incentives for up to 10 years.“We very much appreciate the incentives from the State of Kentucky and the assistance of the State, City of Louisville, and Greater Louisville, Inc. through the application process,” said John Ratliff, Vice President Business Development for Liberty Processing. “This award will weigh significantly in the final decision to start operations in Louisville, which would allow us to create opportunities in the Louisville community while utilizing the world class logistics of UPS for our new services.”Kentuckiana Curb Company, Inc.Kentuckiana Curb Company, headquartered in Louisville, Kentucky, is a metal fabrication manufacturer specializing in metal roof components. The company currently employs 70 at its facility on Grassland Drive. The company has an opportunity for expansion to develop a new line of heating and cooling units for commercial application.The expansion of Kentuckiana Curb Company’s facilities on would be an investment of $2 million and create 50 new jobs and new annual payroll of nearly $2.2 million.Kentuckiana Curb Company was approved for up to $1.125 million in KBI* incentives for up to 10 years.MESA Foods, Inc.MESA Food Products began operations in Louisville in 1984 producing quality tortilla products at a competitive price. The company was privately owned until 1998 when it was purchased by ConAgra Foods and operated under the name Casa de Oro Foods. The Company was purchased by a Kansas City based Equity Group in 2004 and sold to three senior managers; Charles Kraut, Ted Longacre and Chuck Sinon in September 2008. The company returned to its original name “MESA Foods” and currently manufactures corn and flour tortillas, taco shells, pre-cut corn chips and flat breads for restaurants, super markets and national food companies.”The company is considering an expansion of its facility on West Magnolia Avenue, where is currently employs 182, to increase it production capability. The expansion would be an investment of nearly $2.9 million and create 41 new jobs and new annual payroll of $1.35 million.- more -MESA Foods was approved for up to $850,000 in tax credits through the Kentucky Reinvestment Act, which provides tax credits to any existing Kentucky company engaged in manufacturing and related functions on a permanent basis for a reasonable period of time and will be investing in eligible equipment and related costs of at least $2,500,000.Ted Longacre, President of MESA Foods said, “With new owners, financing by PBI bank based in Louisville and the dedication of all our employees, MESA Foods has put itself in a position to grow employment in Louisville through new investment in production capacity. These are investment dollars which bring permanent jobs to Louisville. Working with GLI, local and state government officials, representatives of the United Food and Confectionary Workers union and our customers has provided MESA Foods the opportunity to grow our employee base in a very difficult economy.”Reynolds Foil, Inc.The Louisville Reynolds Foil plant manufactures household foils under the Reynolds Wrap®, Diamond Foil® and other private label brands for the consumer market. Reynolds Foil underwent a large consolidation of its manufacturing facilities in 2008, moving its Richmond, Virginia, operations to Louisville and adding 89 new jobs to its existing employment of 475.Reynolds Foil is now considering further expansion of its Louisville facilities. The proposed expansion would be an investment of $750,000 and create 36 new jobs and new annual payroll of $1.3 million.Reynolds Foil was approved for up to $720,000 in KBI* incentives for up to 10 years.Fellon-McCord & Associates, LLCFellon-McCord & Associates is a national energy consulting practice headquartered in Louisville, where it currently employs 60. As the company business continues to grow, it is considering an expansion of its operations in Louisville.The expansion would be an investment of $175,000 and create 20 new jobs and new annual payroll of $800,000.Fellon-McCord & Associates was approved for up to $1 million in KBI* incentives for up to 10 years.BJK Industries, Inc.BJK Industries dba BJK Flexible Packaging manufactures specialty packaging films for food applications, including fresh poultry. The company currently employs 72 at its facility on 15th Street in Louisville. BJK is considering the addition of leading edge technologies at its facility that would increase production capacity and allow it to manufacture high performance, differentiated products. - more - The project would be an investment of nearly $5.4 million and create 10 new jobs and new annual payroll of more than $450,000. BJK Industries was approved for up to $150,000 in KBI* incentives for up to 10 years and up to $50,000 in a KEIA sales tax rebate.CSS Distribution Company, Inc.CSS Distribution Company is a national distributor of pallets, packaging and packaging equipment located in Louisville where it currently employs eight. The company has the opportunity to expand its business with ‘end-of-line’ packaging solutions that reduce cost and increase efficiency for its customers.CSS Distribution Company is considering purchasing its existing facility on Electron Drive and expanding it by 5,000 sq. ft. to accommodate the new production. The project would be an investment of $525,000 and create 11 new jobs and new annual payroll of more than $511,000.CSS Distribution Company was approved for up to $220,000 in KBI* incentives for up to 10 years.“ CSS Distribution Group, Inc is very excited about the opportunity to work with the Economic Development Cabinet, Greater Louisville Inc. and the Jeffersontown Development Economic Authority to bring new jobs to Kentucky, said Mindy Withrow, COO of CSS Distribution Group.” Without their help, our expansion plans would have required CSS to look elsewhere or to hold off expanding during the tough economic times. Kentucky is very pro-business and we look forward to working together to implement this expansion project. ”The partnership between Greater Louisville Inc. – The Metro Chamber of Commerce, Louisville Metro Government and state government brings new economic opportunities to the community. Through November 2009, the innovative public-private partnership has helped 47 companies locate new operations or expand existing ones in the area. These projects have created 2102 new jobs at an average salary of $41,800 and more than $271 million in new capital investment.* Kentucky Business Incentives consolidates KIDA, KREDA, KJDA & KEOZ into a single, more flexible tax incentive program for new and expanding businesses. This change was made in legislation passed during the 2009 Special Session of the Kentucky General Assembly. More information can be obtained at www.thinkkentucky.com.†Editor’s note. One project, White Energy, is not receiving KBI incentives, but is receiving an Industrial Revenue Bond. The release from the state only includes KBI projects, thusly, it references only 12 projects.