Ferus Breaks Ground on Jenkins, Kentucky Liquid Nitrogen Plant
"This is a historic day for our company as we initiate our new business model in the United States and begin constructing the first of hopefully many new plants and operational bases in the region," said Dick Brown, president and CEO of Ferus. "The state and local officials in Kentucky have been incredibly supportive of our efforts and we are grateful."
The Kentucky Economic Development Finance Authority (KEDFA) has preliminarily approved Ferus for tax incentives up to $2 million through the Kentucky Business Investment program. Ferus was also approved for tax benefits up to $192,000 through the Kentucky Enterprise Initiative Act.
The facility is expected to be in operation by the end of 2011 and can produce up to 200 tons of liquid nitrogen a day.
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