Play Mart Expands Pulaski County, Kentucky, Operations
The investment will include an additional 43,200-square-feet at the company’s existing manufacturing facility, enabling Play Mart to meet growing customer demand and fulfill contracts for child development centers at military bases.
“As the founders and owners of Play Mart, we are excited to receive recognition and potential funds from the state of Kentucky,” said Dennis and Rebecca Beach, co-founders of Play Mart. “We have had a passion since 1981, as stated in our Mission Statement, ‘to provide children the opportunity of experiencing a safe, environmentally friendly, and creative place in which to play and grow.’ In the work environment, we strive to work together with our employees to create a safe, environmentally friendly and creative place in which each person has freedom to use his or her God-given gifts and abilities. Our concern for children’s development and our employees has been the driving force behind our manufacturing business and personal lives.”
To encourage investment and job growth, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $200,000 in tax incentives based on the company’s investment of $1.7 million and annual targets of: Creation and maintenance of 10 Kentucky-resident, full-time jobs across 15 years; and paying an average hourly wage of $22.61 including benefits across those jobs.
“Play Mart is a shining example of how Kentucky’s thriving manufacturing sector is continuing to fuel economic growth,” noted Governor Andy Beshear. “We’re attracting world-class companies from around the globe, but a key part of our success remains homegrown companies like Play Mart, which has provided quality jobs in Pulaski County for over four decades. I want to thank Play Mart’s leadership for continuing to believe in Kentucky, and I look forward to their next 40 years of success in the commonwealth.”
Additionally, KEDFA approved Play Mart for up to $75,000 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.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Play Mart Inc. can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
“Play Mart is an amazing entrepreneurial success story, and we are so happy to be the birthplace of their business and where they choose to call home,” added Chris Girdler, president and CEO of the Somerset-Pulaski Economic Development Authority. “Their leadership team has worked tirelessly for decades to expand their customer base to a world and nationwide audience and this new expansion is a testament to their hard work, determination and entrepreneurial spirit. I appreciate their desire to expand in Somerset and the help of the Cabinet for Economic Development for their guidance and help as they’ve moved through this process.”
Play Mart is an industry leader in manufacturing high-quality products from recycled content, reducing waste in the manufacturing process. The company’s ADA accessible “Boundaryless” components for all ages include age appropriate commercial playground equipment and site amenities. RSPTM posts, decking - 100 year warranty. Low maintenance.
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