Performance Feeds Relocates Primary Operations Complex To Bowling Green, Kentucky
The company will move to Warren County to increase capacity and output, tap into the region’s strong workforce and reduce transportation costs, the Kentucky Cabinet for Economic Development said.
Tony Ferguson, company Owner and Founder said, “The diverse workforce, infrastructure and vast cattle numbers in the region are only a few of the reasons for selecting Bowling Green for our state-of-the-art feed and mineral production facility, grain elevator and storage facility,” Ferguson said.
“The tremendous cooperation from the state, county and city officials aided in our management team’s decision to move into this new venue. We look forward to this experience and the opportunity to serve the cattle producers of southern and western Kentucky in an area that we have not been able to effectively reach in the past,” he added.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in December preliminarily approved the company for tax incentives up to $300,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Additionally, KEDFA approved Performance Feeds for up to $40,000 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. Performance Feeds also can receive resources from the Kentucky Skills Network.
“We are grateful for Performance Feeds’ decision to relocate its primary production facility from Tennessee to Bowling Green,” said Governor Matt Bevin. “Performance Feeds has built a reputation as a dependable provider of nutritional cattle feed for nearly 15 years. It’s a testament to our southcentral region, booming agriculture industry and the Commonwealth as a whole that the company selected Kentucky in its search for a strong workforce and an environment supportive of future growth.”
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