Span Tech Expands Manufacturing Facility in Barren County, Kentucky
The investment will include the purchase of 10 acres on Hilltopper Way and construction of a 100,000-square-foot production, warehouse and assembly operation there, as well as new equipment. The new facility will support Span Tech's growth for new and existing customers and the introduction of a new guide rail product line. The company anticipates work will begin on the project in spring of 2021 with the move from their current facility on Cleveland Avenue to be completed by early 2022.
"We could not be more excited to expand our business and create new jobs in this area. This expansion plan will increase our efficiency, improve our ability to deliver quality products and increase our capacity to serve new customers," said Tiffany Somerville, COO of Span Tech. "Our Span Tech team has been blessed with the opportunity over the years to be able to provide support to many charitable organizations in our community. This expansion will allow us to continue to impact others. We are very appreciative of the state and local support we have received toward our growth. We look forward to our future here in Kentucky."
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $400,000 in tax incentives based on the company's investment of $13.2 million and annual targets of creation and maintenance of 40 Kentucky-resident, full-time jobs across 10 years and paying an average hourly wage of $18 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, Span Tech can receive resources from the Kentucky Skills Network.
"Span Tech has provided job opportunities for residents in and around Barren County for nearly four decades, and I am glad to see the company continue to grow," Governor Andy Beshear said. "This relocation and expansion will greatly benefit both the company and the community as we continue to move forward together to create a brighter future for Kentuckians."
Span Tech opened in Glasgow in 1981 as a supplier of durable plastic chain conveyors and grew to serve an array of industries that includes food and beverage, manufacturing, packaging, distribution, cosmetics, pharmaceuticals and e-commerce. Since opening nearly 40 years ago, the company has grown from a staff of 11 to more than 90 associates. Span Tech continually invests in research and development to create innovative products.
"Span Tech has been a great employer and strong corporate citizen for the past four decades and we are grateful for their decision to expand here,” said Maureen Carpenter, executive director for the Barren County Economic Authority. "These 40 new jobs will provide a significant boost to our local economy."
Designer Construction Corporation Establishes Pageland, South Carolina, Manufacturing Plant
Trends in Office and Industrial Parks
The Future of the Workforce Is a “Better Normal”
Workforce Q4 2020
Another Look at Rural Economies
Supply Chain Execs Respond as Pandemic Creates E-Commerce Surge
Recruiting and Retaining Today’s Manufacturing Workforce
Workforce Q4 2020
2019 Leading Metro Locations: Pacific and South-Atlantic Metros Dominate the List