Germany-Based Wacker Chemical Corporation Expands Calvert City, Kentucky, Operations
The expansion, which includes a new reactor, will boost output in the integrated production system at Calvert City. The additional capacity will allow Wacker to meet increasing demand, especially involving carpet, flooring, paints, coatings and paper and cardboard packaging industries.
“Capacity expansion is essential if we are to meet our customers’ demands for our dispersions over the coming years,” explained Rudolf Staudigl, CEO of Wacker. “After expanding our dispersions business at our sites in South Korea and China in the course of the last two years, we have now pushed ahead with expanding our production in the U.S. at our Calvert City facility. Thus, we will be able to keep pace with the future market growth and strengthen our leading position in VAE dispersions.”
To encourage the investment and job growth in community, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.65 million 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.
KEDFA also approved Wacker for tax benefits up to $200,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
“Wacker is truly a global force in the chemical production industry, a powerful asset for our economy and a wealth of opportunity for workers in Calvert City,” said Governor Steve Beshear. “The $60 million investment, as well as the hiring of 15 new employees, is a testament to the quality of workforce here in the Commonwealth.”
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