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Two Rivers Fisheries Invests $2.5 Million To Establish Fish Processing Facility In Wickliffe, Kentucky

Area Development Online News Desk (05/31/2013)
Two Rivers Fisheries Inc. invested more than $2.5 million to open a fish processing facility in a 36,000-square-foot leased spec building owned by the Ballard Industrial Board on Wickliffe Road, creating 50 jobs in Wickliffe, Kentucky.

Two Rivers Fisheries plans to purchase Asian carp from local fishermen, process the meat and blast-freeze the product for shipment to South East Asia, where the fish are in demand. Bi-products from Asian carp processing can also be used to make fertilizer. The company expects the plant will have the ability to process and sell up to 10,000 pounds of Asian carp per day.

“We are thrilled to be a member of the Wickliffe/Ballard community,” said Angie Yu, CEO of Two Rivers Fisheries. “After years in the international fish importing and exporting business, we have realized our dream of creating our own factory and greatly appreciate the support we have received, both on the local and state levels. Our hope is that this facility benefits Kentucky’s waterways as well, removing Asian carp from the rivers and turning them into a positive resource.”

“We welcome Two Rivers Fisheries to the Commonwealth. Not only will the company create 50 jobs and invest $2.5 million, it will also add to our overall exports,” said Gov. Steve Beshear. “Exporting is big business, with Kentucky setting an all-time record last year with $22 billion in exports of Kentucky products and services.”

As an incentive to encourage the investment and job creation in Wickliffe, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1 million 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.

In addition to KEDFA’s preliminarily approved performance based tax incentives, the Delta Regional Authority authorized $307,000 for the company. The DRA is a federal-state partnership that is congressionally mandated to help create jobs, build communities, and improve lives in the 252 counties and parishes of the Delta.

“As Mayor of Wickliffe I am pleased to have the Two Rivers Fisheries located here at the confluence of our nation’s most powerful rivers, the Mississippi and Ohio,” said Wickliffe Mayor Lynn Hopkins. “As we have come to know the president, Angie Yu, and her family, Wickliffe is excited to be a minor helping hand in this venture. We stand ready to help in its future growth and success. This endeavor will improve the environment and the sport and commercial fish we rely on in this community.”

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