Tegrant Diversified Brands Inc. Plans To Locate Manufacturing Facility In Shelbyville, Kentucky
Area Development Online News Desk (09/26/2013)
A provider of consumer packaging, industrial products, protective packaging and packaging supply chain services, Tegrant Diversified Brands Inc., plans to establish a manufacturing operation in Shelbyville, Kentucky. The firm, owned by Sonoco Products Company, will create 51 full-time jobs and invest more than $12 million in the Commonwealth.
With locations already in Louisville, Winchester, Morganfield and Henderson, Sonoco has more than 250 employees currently in Kentucky. “We could not be happier with our experience in the Bluegrass state, and this new Shelbyville facility is proof of that,” said Carl Kraus, Division Vice President, manufacturing for Sonoco. “The overall business climate, the quality of the workforce and the spirit of partnership with the city and the state made this an easy decision for us.”
“We are excited to see Tegrant and Sonoco grow in Kentucky with the creation of 51 jobs and an investment of more than $12 million in Shelbyville, adding to the company’s footprint in Kentucky,” said Gov. Steve Beshear. “Our automotive industry continues to stand out as one of the best in the nation, and we owe a lot of that success to quality suppliers such as Sonoco and Tegrant.”
“The decision to locate a manufacturing facility in Shelby County speaks volumes about the geographic location and workforce in our community,” said Shelby County Judge-Executive Rob Rothenburger.
As an incentive to encourage the investment and job creation in Shelbyville, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $900,000 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.