Castlen Welding & Manufacturing Invests Nearly $3.9 Million To Expand Daviess County, Kentucky, Manufacturing Facilities
While the company’s existing location in Maceo, Kentucky, will still be used for custom fabrication and welding repair, Castlen’s new facility will allow the firm to expand its operation into the welding and manufacturing of conveyors, hoppers, conditioners, towers and bucket elevators. Located on U.S. Highway 60, it has 92 acres of industrial property with about 16,000 square feet of buildings. The property also has rail and river access, which will allow the company to purchase and transfer steel in larger quantities. The facility is expected to be operational sometime in 2015.
“We are very excited about the new expansion and the potential growth opportunities it will provide for our company as well as our community,” said owner Matt Castlen. “We also are very blessed to be able to expand so close to home right here in Owensboro. We are looking forward to the future months ahead of us with hopes of making a great impact in our city and our community.”
To encourage the investment and job growth in Daviess County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $350,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
Castlen started the company with his wife Laura in 2008. In addition to manufacturing material handling equipment, Castlen erects and installs the equipment on-site. The company also builds grain storage tanks and liquid fertilizer facilities, and offers a wide variety of welding and custom fabrication services.
“This is a prime example of a small, family-owned business finding success in Kentucky,” said Governor Steve Beshear. “I want to thank Castlen for its continued investment in the Commonwealth. Kentucky is proud to support this excellent company as it continues to grow and create more jobs in Owensboro.”
“We are pleased to know that Castlen Welding & Manufacturing will be investing $3.9 million into the Highway 60 East location and purchasing additional equipment in order to diversify the business,” said Owensboro Mayor Ron Payne. “The creation of 30 new jobs for our community residents is wonderful news.”
Supply Chain Bottlenecks Creating New “Logistical Hotspots”
2020 Top States for Doing Business Showcase Their Pro-Business Environments
Latest Trends in the Industrial Real Estate Sector Here to Stay
2021 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Challenges Facing the Auto Industry Post-Pandemic
2021 Auto/Aero Site Guide
Auto Industry Is Betting on Sustainability
2021 Auto/Aero Site Guide