Lakeshore Learning Materials Locates Distribution Center In Woodford County, Kentucky
The company’s fulfillment and distribution facility in Midway, Kentucky, will be more centrally located to customers. Company leaders expect the building will be operational by November 2017.
“Lakeshore was drawn to Kentucky by its wonderful sense of community and the state’s rich history of supporting families, education and businesses like ours,” said Bo Kaplan, Lakeshore’s President/CEO. “We truly feel like we’ve found a home here, and we can’t wait to become an active part of the Midway community.”
“Over the past 60 years, Lakeshore Learning Materials has established itself as a highly regarded brand in the world of education,” Governor Matt Bevin said. “This multi-generational family company is a great fit for the Commonwealth. Their core values are well aligned with Kentucky values. Their community orientation, history of product innovation, and deep roots in both entrepreneurism and education are exemplary. It’s with great joy that we welcome Lakeshore to Kentucky and thank them for choosing to invest and create jobs in the Bluegrass region.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August preliminarily approved the company for tax incentives up to $3.7 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.
Additionally, KEDFA approved Lakeshore for up to $1.4 million 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.
Lakeshore can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
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