Chapin International Expands Rockcastle-Boyle County, Kentucky, Operations
The company will invest $8.25 million and create 100 jobs in Boyle County with the acquisition of a 496,000-square-foot facility on the South Danville Bypass. The company also will increase investment in its Mount Vernon operation to $13.9 million and double job creation at the facility to 200 full-time positions.
“Chapin is excited to continue our growth in Kentucky. In just one year we have met our five-year employment goal of 100 people in Rockcastle County,” said Jim Campbell, CEO of Chapin Intentional. “The addition of another 500,000 square feet in Danville, Kentucky, will allow us to continue our growth at a quicker pace. Our Kentucky employees are proving to be the biggest asset to this new plant, with good attendance and a willingness to get the job done. We are accomplishing our goals ahead of schedule. With the help of these employees, we will be well positioned to strengthen our competitiveness and grow further in the global market.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.05 million in tax incentives based on the company’s investment of $8.25 million and annual targets of creation and maintenance of 100 Kentucky-resident, full-time jobs across 10 years.
“Time is money for businesses growing in Kentucky, and Chapin International is setting a record pace for growth in the commonwealth,” Governor Andy Beshear said. “Last fall, I was proud of the effort at the state and local level to help Chapin establish its new home in Mount Vernon, and I am even more thrilled to see the company already announce new growth in the commonwealth. Chapin shares our vision to create quality jobs for Kentuckians for years to come, and I thank its leadership for believing in our state and our talented workforce for not one, but two significant new investments here.
KEDFA also approved a modification to Chapin’s existing 10-year incentive agreement under the Kentucky Business Investment program. The performance-based agreement can provide up to $3.75 million in tax incentives based on the company’s investment of $13.9 million and annual targets of Creation and maintenance of 200 Kentucky-resident, full-time jobs across 10 years and paying an average hourly wage of $22.40 including benefits across those jobs. 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.
“We warmly welcome Chapin International as the newest corporate citizen of Danville-Boyle County’s strong and diverse business community,” said Jody Lassiter, president and CEO of Develop Danville Inc. “In addition to its planned capital investment and job creation, Chapin will breathe new life into an older existing industrial facility. We are committed to Chapin’s success and growth here.”
According to state officials, Chapin’s expanded presence in Kentucky will allow the company to better capitalize on the state’s strategic location to get products to consumers quickly. As the logistics center of the eastern U.S., the commonwealth is located within 600 miles of two-thirds of the nation’s population. Kentucky is home to three global air-cargo hubs, with 20 interstates and controlled-access parkways, over 2,600 miles of freight rail and more than 1,900 miles of navigable waterways.
“I appreciate the focus that the Cabinet for Economic Development staff devote daily to our communities to improve the quality of life for every citizen of this commonwealth. I can’t begin to express my gratitude to Chapin for the confidence shown in our region and the workforce of this great state over the past year,” explained Jeff VanHook, executive director of the Rockcastle County Industrial Development Authority. “Many state and local leaders all worked together to push this project forward and clear or hurdle any potential barriers. I extend gratitude to the Governor’s office, legislators, cabinet leadership and staff, local and regional leaders and private partners that all played their roles in this announcement."
Chapin produces and distributes metal compressed air sprayers for a variety of uses, including industrial concrete sprayers, professional landscaper/contractor backpack sprayers, ATV sprayers and specialty hose-end and handheld sprayers. The company has facilities in Michigan and Ohio, in addition to its Kentucky location.
2023 Top States for Doing Business Meet the Needs of Site Selectors
The Rise of Mid-Size U.S. Cities: The Industrial Development Boom
Front Line: Brownfields Offer Redevelopment Opportunities
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
2023 Top States Workforce Development Programs
Immigration: A Potential Fix for Labor Shortages?
Workforce Q4 2023