MAYSVILLE, Ky. (WTVQ) – An agri-tech company’s expansion will mean 40 new jobs in Mason County, according to the state.
EnviroFlight LLC announced plans for a $20 million expansion of its production facility in Maysville, which opened two-years ago, according to the state.
The company produces black soldier fly larvae for animal and plant nutrition.
EnviroFlight plans to expands its facility from 112,500 square feet to more than 173,000 square feet to accommodate new production and meet customer demand, according to the company.
The company began with 12 employees. It currently has 73 workers.
The 40 new jobs will include production and processing techs, engineering, datga analysis and statistician positions, according to the company.
The expansion is scheduled to begin in January and be completed by September 2021, according to the company.
The Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 15-year incentive agreement with EnviroFlight under the Kentucky Business investment program.
The performance-based agreement could provide up to $800,000 in tax incentives based on the company’s investment of $19.78 million and annual targets of creating and maintaining 40 full-time jobs, filled by Kentuckians, for 15-years. Also, paying an average hourly wage of $22, including benefits across those jobs, according to the state.
By meeting its annual targets over the term of the agreement, the state says the company would 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.
Also, KEDFA approved EnviroFlight for up to $100,000 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, according to the state.
In addition, the company can receive resources from the Kentucky Skills Network. Through the network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives, according to the state.
More information on the Governors AgriTech Initiative is available at AgriTech.ky.gov.
A detailed community profile for Mason County can be viewed here.
Information on Kentuckys economic development efforts and programs is available at www.CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov and LinkedIn.