Taylor Corp., one of the largest graphic communications companies in North America, will invest $18.8 million to expand its operations complex in Radcliff, Kentucky. The project is expected to create 28 jobs.
The company will expand its existing 79,500-square-foot facility on South Dixie Boulevard by 30,000-square-feet to support growth of its label manufacturing business. Taylor anticipates breaking ground on the expansion in the first quarter of 2022 and completing the project by the end of next year.
“Taylor is investing to meet the growing demand for pressure sensitive labels, which is one of the fastest-growing segments in the labels and packaging industry,” said Taylor CEO Charlie Whitaker. “As one of the largest label converters in North America, with a national production and distribution footprint, we are well equipped to provide a broad range of offerings at an unprecedented scale. From grocery shelves to the packages on your doorstep, in your car and on your appliances, Taylor labels help manufacturers and retailers engage with their customers safely and efficiently.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last week preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $500,000 in tax incentives based on the company’s investment of $18.8 million and annual targets of creation and maintenance of 28 Kentucky-resident, full-time jobs across 10 years and paying an average hourly wage of $23.40 including benefits across those jobs.
Additionally, KEDFA approved the company for up to $70,000 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.
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. In addition, Taylor can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
“I want to thank Taylor Corp. for its commitment to the Radcliff area and its workforce. Congratulations to everyone in the region, who will benefit from the growth of a quality employer,” Governor Andy Beshear said. “Kentucky’s economic momentum unlike anything we’ve seen before, and the continued growth of existing companies like Taylor play a crucial role in building on that success in the years ahead.”
Taylor produces pressure sensitive labels for a variety of industries, such as consumer packaged goods, manufacturing and distribution, health care and retail. Jobs created by the expansion will include press operators, material handlers and supervisors, adding to Taylor’s current employment of 85 Kentucky residents.