Pride Industries Expands Its Union County, Kentucky, Manufacturing Plant
According to the Kentucky Cabinet for Economic Development, Pride’s decision to expand comes in response to the rise in popularity of aluminum composite metal (ACM) wall panels. The company plans to buy new equipment to begin an ACM panel production line. ACM panels offer a well-insulated, affordable alternative to insulated sandwich panels often used on commercial buildings.
“With the purchase of the CNT Motion Systems Table Router System, we intend to diversify our established product line by entering into the aluminum composite metal ACM wall panel and architectural metal accessories markets,” said company CEO Bart Pride. “We will provide a single source for fabrication and installation services that the growing markets in the region require. By turning product lead times from weeks into days, we will be able to more efficiently deliver an installed product in a schedule-driven industry.”
“When a Kentucky based, family owned company decides to reinvest and diversify with new products, we will do everything in our power to ensure that growth occurs right here at home,” Governor Matt Bevin said. “The addition of Pride Industries’ new production line not only means new jobs for north western Kentucky, but establishes the company as a leading source for aluminum composite metal wall panels which are increasingly in demand. We extend our congratulations to Pride and Union County on this expansion and look forward to many more years of continued growth in the future.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in May preliminarily approved the company for tax incentives up to $100,000 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.
In addition, Pride can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
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