FRANKFORT, Ky. (WTVQ) – A salad dressing manufacturer says it plans to expand its Hart County plant with a $92,800,000 investment, creating up to 140 full-time jobs.
Governor Andy Beshear will join local officials and executives from T. Marzetti Co. to make the announcement Friday.
T. Marzetti Co. manufacturers salad dressings, sauces and other food products.
The 184,500-square-foot expansion would allow for additional manufacturing space as well as the purchase of new equipment for increased dressing and sauce production.
The investment will also support eight new processing kitchens and several packaging lines to help meet growing customer demand, with three kitchens and two packaging lines operational within the first year. Company leaders anticipate the project will be completed by summer 2021.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $2,750,000 in tax incentives based on the company’s investment of $92,800,000 and annual targets of:
- Creation and maintenance of 140 Kentucky-resident, full-time jobs across 10 years
- Paying an average hourly wage of $25.72 including benefits across those jobs
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
Additionally, KEDFA approved T. Marzetti for up to $250,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
In addition, T. Marzetti can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
For more information on T. Marzetti, visit www.tmarzetticompany.com.
To learn more about Lancaster Colony, visit www.lancastercolony.com.
A detailed community profile for Hart County can be viewed here.
Information on Kentuckys economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/ThinkKentucky, on Twitter and LinkedIn.