Kenlake Foods Expands Murray, Kentucky, Operations
The investment will include an additional 6,000-square-feet of space and the installation of new processing equipment for dry roasting and packaging various nut lines.
“From large corporations to family-owned businesses, we are continuing to see Kentucky companies believe and invest in our communities,” said Governor Andy Beshear. “Kenlake Foods has been serving the Murray and Western Kentucky region for over four decades, and this investment is a critical step to ensuring they continue to do so for many years to come. I want to thank the company’s leadership for their continued support and investment in the commonwealth.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $150,000 in tax incentives based on the company’s investment of $24 million and annual targets of creation and maintenance of 15 Kentucky-resident, full-time jobs across 10 years; and paying an average hourly wage of $36, 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. In addition, Kenlake Foods can receive resources from Kentucky’s workforce service providers.
“Kenlake has been an important part of our local economy for many years,” noted Jerry Duncan, chairman of the Murray County Economic Development Corporation. “Working with the company and the city on this project will mean the addition of 15 well-paying jobs to the community to help support 15 families. The MCEDC is proud to partner with our manufacturing employers to make their investment decisions easy and to support the commonwealth in our mutual goal of smart growth.”
Kenlake Foods provides snack, baking and produce nuts to all Kroger retail divisions. The company also specializes in the manufacture of more than 800 items, mostly dry mixes and salted nuts, but also processes puddings, gelatins, drink mixes, instant oatmeal and oats.
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