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Kruger Packaging bringing 150 jobs to Elizabethtown By Crystal Staley/Jack Mazurak Frankfort, KY - On Thursday, Gov. Andy Beshear congratulated Canada-based Kruger Packaging on its anticipated $114.2 million investment to establish a state-of-the-art packaging manufacturing operation in Hardin County, a project that will create at least 150 quality jobs in the coming years. The new 400,000-square-foot facility to be located at T.J. Patterson Industrial Park in Elizabethtown will operate under the name Kruger Packaging (USA) LLC and represents the company's first corrugated box plant in the U.S. To encourage the 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 $3.45 million in tax incentives based on the company's investment of $114.2 million and annual targets of:
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. In addition, the company 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. "This is a significant project for Elizabethtown and the commonwealth, and furthers the mission of the Kentucky agritech initiative to build a better future with higher paying jobs for Kentuckians," Gov. Beshear said. "Kruger Packaging is creating nearly 150 quality job opportunities for our residents, and I want to thank the company for this commitment to our state. Kruger Packaging will be a strong employer in Central Kentucky for years to come, and I look forward to watching the company grow and help build a better future for Kentuckians." "Kentucky's pro-business climate was instrumental in our decision to invest in Hardin County, and we are grateful for the support we received from Gov. Beshear, Team Kentucky and Elizabethtown-Hardin County to make today's announcement a reality," said Michael Lafave, senior vice president and chief operating officer of Kruger Packaging. Kruger Packaging's announcement is among four economic development projects Gov. Beshear is announcing today. Cumulatively, today's announcements represent nearly $273 million in investments that will bring 505 well-paying jobs to Whitley, Shelby, Hardin and Fulton counties, furthering the Governor's commitment to broad economic development in every region of the commonwealth. Founded in 1904, Kruger Packaging's parent company, Kruger Inc., is headquartered in Montreal, Canada, and produces 100% recycled containerboard products, corrugated packaging, tissue products, publication and specialty papers, renewable energy, cellulosic biomaterials and wines and spirits. The company also is a major North American recycler of paper and paperboard. Kruger operates 19 facilities across 10 sectors in Canada and the U.S., including locations in Maine, New York, North Carolina, Rhode Island, Tennessee and Virginia. Kruger Packaging will join 38 Canadian-owned facilities already operating in Kentucky. Since the start of 2020, Canada-based companies have announced projects that would create over 430 full-time jobs in Kentucky with over $250 million in new investment. Kruger Packaging also adds to Kentucky's growing agritech sector. The Kentucky agritech initiative includes a number of midstream technologies, including innovations in processing, packaging and distribution. The company's commitment to its people and sustainability aligns with the goals of the Kentucky agritech initiative, particularly as state leaders continue to develop and support packaging and distribution services for a range of sectors, including the food and beverage industry. This story was posted on 2021-05-28 07:55:58
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