Universal Piping Industries Plans Georgetown, Kentucky, Manufacturing Plant
The company will relocate to a 108,000-square-foot facility on nearly 13 acres in Lanes Run Business Park. The project will be a relocation of two existing operations in Lexington. Construction is expected to begin in February 2022 and be completed by April 2023.
“For 17 years, our talented Kentucky team has provided UPI customers around North America with the highest quality piping assemblies,” said UPI President Joseph Kaiser V. “We’re excited to not only grow this workforce, but proud to provide them with the most sophisticated manufacturing space to perform their craft. Importantly, this investment reflects our faith in the community and their continued contribution to our success.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority in December preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $350,000 in tax incentives based on the company’s investment of $12.76 million and annual targets of creation and maintenance of 25 Kentucky-resident, full-time jobs across 10 years, and paying an average hourly wage of $51 including benefits across those jobs.
Additionally, KEDFA approved UPI for up to $350,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
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, UPI 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.
“In a record-breaking year for job announcements, I am encouraged to see more businesses expanding their existing operations within the commonwealth,” Governor Andy Beshear said. “Universal Piping Industries is a longstanding asset to Central Kentucky, and I would like to congratulate them on this expansion. Growth from manufacturers like UPI is vital to our goal of building a better Kentucky for years to come, and I look forward to seeing them succeed.”
The expanded state-of-the-art operations will allow UPI to prefabricate customized piping and equipment to be installed at manufacturing facilities throughout the United States. The company currently serves a variety of Kentucky’s top industries including automotive, chemicals, manufacturing, financial institutions and health care.
“It is so gratifying when one of our manufacturing partners decides to expand their operations in Georgetown/Scott County and Universal Piping Industries is one of those,” added Jack Conner, executive director of Scott County United Inc.. “Their presence in the Lanes Run Business Park speaks volumes of their trust in our partnership.”
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