Consultants Forum Advertise
Subscribe
Close

  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Subscribe Now
Renew

Area Development - Site Selection, Facility Planning and Workforce Development

Southern Coil Solutions Plans Bowling Green, Kentucky, Warehouse-Logistics Complex

07/07/2023
Southern Coil Solutions, a leading provider of advanced coil handling and storage solutions, plans to establish a steel coil warehouse distribution and logistics center in Bowling Green, Kentucky. The $27 million project is expected to create 30 jobs in Warren County.

The approximately 120,000-square-foot facility will be fully automated and located on over nine acres at Kentucky Transpark. Construction is scheduled for as early as July and completion in December 2023.

“The city of Bowling Green, Warren County, Gov. Beshear, the Tennessee Valley Authority and the Bowling Green Area Chamber of Commerce have made this an easy decision,” said Southern Coil Solutions CEO Mark Loik. “Southern Coil Solutions will continually invest in cutting-edge technology, expanding our infrastructure and developing strong partnerships to become a trusted name in the industry. We look forward to being a part of the community’s economic prosperity by generating employment opportunities.”

The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $600,000 in tax incentives based on the company’s investment of over $27 million and annual targets of creation and maintenance of 30 Kentucky-resident, full-time jobs across 10 years, and paying an average hourly wage of $30.87 including benefits across those jobs.

Additionally, KEDFA approved Southern Coil Solutions for up to $150,000 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.

“Southern Coil Solutions is an incredible example of the kinds of companies that are locating in Kentucky and adding to our thriving economy,” noted Governor Andy Beshear. “I want to congratulate the company on its new automated steel coil distribution and logistics center in Warren County and thank its leadership for investing in our commonwealth.”

In addition, Southern Coil Solutions 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.

“Southern Coil Solutions is a great example of entrepreneurial determination and success that has driven our community’s growth,” added Bowling Green Area Chamber of Commerce president and CEO Ron Bunch. “South Central Kentucky is fortunate to be home to so many wonderful companies and we are excited to welcome another one to the fold. We look forward to their continued growth and success in the region across the globe.”

Established in 2023, Southern Coil Solutions is a leading automated storage warehousing company specializing in the handling of aluminum and steel coils. With a strong presence in the automotive, food/beverage and battery industries, the company provides storage solutions for businesses across various sectors.

Share

Exclusive Research