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Area Development - Site Selection, Facility Planning and Workforce Development

Precision Sonar & Outdoors Expands Benton, Kentucky, Operations

01/27/2023
Precision Sonar & Outdoors, a producer of GPS and sonar mounting systems, plans to expand operations in Benton, Kentucky. The $2.2 million project is expected to create 12 jobs.

The company will build a new facility near its existing location in Marshall County. The investment will include additional space to house new equipment and assist with logistics and distribution of products.

“We are extremely excited to expand our operations and grow our business here in Marshall County,” said Allen Beard, president of Precision Sonar & Outdoors. “We are proud to be a part of this community and look forward to growing and continuing to provide quality products and exceptional customer service.”

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday 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 nearly $2.2 million and annual targets of: Creation and maintenance of 12 Kentucky-resident, full-time jobs across 15 years; and paying an average hourly wage of $23 including benefits across those jobs.

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.

“The economic momentum we are seeing throughout Kentucky is the result of incredible growth among our largest and most vital industries, and manufacturing is at the center of that growth,” noted Governor Andy Beshear. “We continually see quality companies such as Precision Sonar & Outdoors expanding to meet growing customer demand, and that is a recipe for long-term success for our economy. I want to thank the company’s leadership for their belief in the commonwealth and look forward to its continued growth in our state.”

In addition, Precision Sonar & Outdoors 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.

“On behalf of Kentucky Lake Economic Development, we are thrilled Precision Sonar has decided to expand their facility here in Marshall County,” added Elizabeth Griffith Mudd, president of Kentucky Lake Economic Development. “Their investment and job creation will have a significant impact on our community. We look forward to watching their future growth and success.”

Precision Sonar & Outdoors is an industry-leading manufacturer of GPS and sonar mounting systems designed and produced in a controlled environment from solid aluminum by experienced craftsmen in the tool and die industry. In addition to the products the company manufactures, Precision also carries a wide selection of sonar accessories.

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