Wausau Paper Celebrates Ribbon Cutting On $220 Million Expansion In Harrodsburg, Kentucky
Wausau Paper has produced towel and tissue paper products at its Harrodsburg plant since 1990. Gov. Steve Beshear applauded the expansion and recognized the tremendous value Wausau Paper has contributed to the region. “Kentucky is aggressive about attracting new companies, but we’re also very proud of the success and growth of companies that have made a commitment to the Commonwealth,” said Gov. Beshear.
“Wausau Paper’s expansion is not only a tangible investment in Kentucky’s economy, but also a vote of confidence in the workforce of this region,” said Cabinet for Economic Development Secretary Larry Hayes. “We’re pleased to partner with Wausau to see the company expand and adapt to meet the challenges in such a competitive industry.”
To encourage the investment and job growth in Harrodsburg, the Kentucky Economic Development Finance Authority preliminarily approved Wausau Paper for tax incentives up to $6 million through the Kentucky Business Investment program. The performance-based incentive allows the company to keep a portion of its investment over a 10-year period through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also preliminarily approved Wausau Paper for tax benefits up to $1.1 million through the Kentucky Enterprise Investment Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development, and electronic processing equipment.
“Any mayor would be thrilled to have a company like Wausau Paper in their community,” said Harrodsburg Mayor Eddie Long. “The fact they have chosen Harrodsburg for this investment is very gratifying, because it shows they have confidence in our city.”
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