Castlen Opens Industrial Site In Owensboro, Kentucky
Among other products and services, Castlen engineers, fabricates and installs grain and fertilizer storage tanks, silos and storage buildings. Its new site, a 92-acre former steel mill on U.S. Highway 60, allows the company to add manufacturing operations for conveyors, hoppers, conditioners, towers and bucket elevators. Having revitalized a rail spur, Castlen employees can more easily receive bulk raw materials – including steel and aluminum – and ship completed tanks, catwalks, elevators and other products.
Rail access will also allow Castlen to offer railcar repair. Castlen also plans to build warehousing space and will likely add additional employees as it further develops the property. The new site’s access to the Ohio River will help the company expand its sales and service territory. The company’s existing headquarters on Iceland Road in Maceo, Kentucky. will continue as offices and a site for custom fabrication and welding repair.
“We are bringing in new industry and assisting in the growth existing business in the area,” said owner Matt Castlen. “Creating sustainable employment for a wide range of skilled workers is our goal in developing the property. Our plan will help this region expand as the Interstate 65 spur evolves.”
Governor Matt Bevin said, “In eight short years Castlen went from a startup to a 50-employee operation handling multimillion projects for agribusiness and industrial customers. We are thankful for the hard work of forward-looking companies like Castlen that reinforce Kentucky’s reputation as an international hub for manufacturing excellence.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in 2014 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 agreement term through corporate income tax credits and wage assessments by meeting job and investment targets. In addition, Castlen can receive resources from the Kentucky Skills Network.
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