Atlas Machine and Supply Inc. will construct a new 32,500-square-foot facility on 10 acres at Breckinridge County Industrial Park in Hardinsburg, Kentucky. The $37 million project is expected to create 78 jobs.
The facility, which will replace a smaller company location in nearby Harned, will serve as headquarters for Atlas’s Field Machining Division, which performs on-site industrial repairs for manufacturers throughout the U.S. and beyond and has seen an increased demand for its onsite services.
“The project will enable us to further strengthen our already solid partnership with the Breckinridge County Area Technology Center, Breckinridge County United and many others in the community,” said Richie Gimmel, president of Atlas Machine and Supply. “We also would like to thank the Kentucky Department of Economic Development for providing the tax incentives to help make this decision even easier.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in July preliminarily approved a 15-year incentive agreement with Atlas Machine and Supply Inc. under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.25 million in tax incentives based on the company’s investment of $3.47 million and annual targets of creation and maintenance of 78 Kentucky-resident, full-time jobs across 15 years, and paying an average hourly wage of $39 including benefits across those jobs.
Additionally, KEDFA approved Atlas Machine and Supply Inc. for up to $50,000 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.
“While it’s always exciting when new companies come to Kentucky, it’s even more rewarding to see a homegrown company like Atlas succeed and reinvest in itself and our amazing workforce,” Governor Andy Beshear added. “Atlas has been doing business in the commonwealth for over 100 years, and this investment ensures this partnership will endure for many years to come. I want to thank Atlas’ leadership for having a long-term vision and believing in what Kentucky has to offer.”
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, Atlas Machine and Supply Inc. 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.
“We are so proud that Atlas’ Field Machining Division will be based in Breckinridge County,” said Meredith Dubree, executive director of Breckinridge County United Economic Development. “Atlas has generously invested in our schools and our community for years, and we are grateful that their presence here will continue and grow. We would like to thank the Kentucky Cabinet for Economic Development, the Breckinridge County Industrial Authority, and numerous other community partners for their support and assistance throughout this process. Most importantly, we’d like to thank Breckinridge County’s machinists, welders and other skilled tradespeople who work for Atlas. Their talents and dedication helped create this opportunity for the generations that follow them.”
Atlas Machine and Supply, Inc., founded in 1907, is one of the largest heavy-capacity industrial machinery engineering, manufacturing and remanufacturing centers in the United States.