Genova Products Inc. Establishes $4.9 Million Factory In Paducah, Kentucky
Genova makes plumbing and building materials, mostly from vinyl. The company is leasing a 100,000-square-foot factory that once housed Infiniti Plastic Technologies Inc. The company began operations at the facility last month and currently employs 15 people. Genova chose Paducah due to available land, low electricity costs and rail access, state economic development officials said.
“We are very excited about the opportunities that lie ahead for us in a partnership with the city of Paducah,” said Mike DeBoer, President of Genova Products. “This location and state-of-the-art facility provide us with a strategic opportunity to expand our production and distribution capacity to support the future growth initiatives underway at Genova. We have found the people of Paducah a delight to work with and are certain both parties will mutually benefit from this alliance.”
Genova has been making vinyl pipe and fittings for professional and do-it-yourself plumbers since 1962. The company expanded into vinyl gutters and fencing and now has a product line that includes vinyl downspouts, decks and rails; drinking water and sanitary systems for boats and RVs.
As an incentive, to encourage the investment and job growth in McCracken County, 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.
“I am pleased that with hard work, focus and diligence, we have found an ideal fit to create jobs in our building formerly occupied by Infiniti,” said McCracken County Judge-Executive Van Newberry. “The building was constructed to create at least 100 jobs in the plastics industry and that’s exactly what Genova is proposing to do. Genova was founded more than 50 years ago and we hope to create a partnership that will last for Genova’s next 50 years.”
“Genova is a win-win for our community,” said Paducah Mayor Gayle Kaler. “This long-standing, family-owned company will create jobs in Paducah, be a sizable customer for Paducah Power, utilize the Paducah & Louisville Railway to transport inbound materials and create a positive cash flow stream to the city and county. The city is pleased to partner with the state, county, Paducah Economic Development and our other partners to make this deal happen.”
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