ERLANGER, Ky. (Manufacturing.net) — Kentucky Governor Steve Beshar today announced that Newly Weds Foods will invest $57 million to build a new food production facility in Boone County. He was joined by executives from the company and officials from the Northern Kentucky Tri-County Economic Development Corporation to outline the plan to create 115 job within a 326,000 square-foot facility in Erlanger, Ky.
The company currently owns 15 North American plants, in addition to 10 overseas in countries like China, Thailand, Australia and the United Kingdom. The company manufactures food coatings, seasonings and functional ingredients for the food processing and foodservice industries.
This will be the 13th operational facility for the company within the U.S., and it will be responsible for American style bread crumbs, Japanese bread crumbs or panko and blended batters. Two production lines will be running by the end of the year, with two more forthcoming in 2014. The company has also announced an attached R&D facility, as well as space for a team of food scientists. All employees will receive full benefits.
“Newly Weds Foods is an international manufacturer and distributor of food ingredients that are used in thousands of products consumed around the world,” said Gov. Beshear in a statement. “We’re proud to welcome Newly Weds Foods to Northern Kentucky and the Commonwealth. Soon more retail products on grocery store shelves and prepared items on restaurant menus in North America will contain ingredients made in Kentucky.”
The company's new facility will join Toyota Motor Engineering and Manufacturing North America in the Boone County business park, which is near the Cincinnati/Northern Kentucky International Airport. Local officials tout the investment as only one of many in recent history, and the list includes the likes of L’Oreal, NorAm, DHL and iHerb. Rep. Addia Wuchner, of Florence, Ky., says the recent investments have mostly been due to the region's transportation infrastructure and work ethic that are "second to none." Gary Moore, Boone County Judge-Executive and chairman of Northern Kentucky Tri-ED, also suggested the area's low cost of business was a major contributor to Newly Weds Foods' decision to invest.
The Kentucky Economic Development Finance Authority (KEDFA) offered the company tax incentives up to $6 million through the Kentucky Business Investment program, in addition to a $500,000 sales/use tax refund. If the company meets performance standards for hiring and investment, it will be allowed to keep a portion of its investment through corporate income tax credits.