Sherwood Bedding Locates Mattress Production Plant In Walton, Kentucky
“Bringing the Sherwood Midwest facility to the Commonwealth represents a great win for Northern Kentucky and the state,” said Governor Matt Bevin. “We are grateful they recognize Kentucky is the right choice for Sherwood Bedding. Our workforce’s manufacturing experience and our shipping and logistics infrastructure make us the perfect partner. We welcome Sherwood Bedding to Kentucky and look forward to a lasting and productive relationship.”
According to Kentucky Cabinet for Economic Development, projected significant growth over the next five years helped the company determine it needed a new manufacturing facility. Sherwood currently owns manufacturing facilities in Florida, Texas and Arizona. Adding the Walton location will give Sherwood national coverage and the ability to expand its customer base while better serving its existing customers in the Midwest.
Company owners said logistical advantages influenced their decision to locate in Northern Kentucky. The company also noted the local labor pool, local and state laws, taxes and economic incentives as factors.
“The new location in Walton will be a major benefit to our company and we look forward to giving Sherwood Midwest a home in northern Kentucky,” said Kevin Sirop, Chief Financial Officer for JLE Group, Sherwood’s parent company. “The site provides many advantages, logistical and otherwise, and Sherwood Bedding is thankful to the local community and the state for all their help in making this project a reality.”
To encourage Sherwood’s investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.2 million 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.
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