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Tyson Foods announces BG manufacturing facility By Crystal Staley/Jack Mazurak Frankfort, KY - On Thursday, October 28, 2021, Gov. Andy Beshear announced one of the largest investment and job-creation projects and the single largest investment in a new facility in Bowling Green, as Tyson Foods moved forward with plans for a $355 million manufacturing operation, which will create 450 full-time jobs. "Today, I am proud to announce one of the largest investments in Warren County's history, and this is a community that has had no shortage of economic success in recent years," Gov. Beshear said. "Tyson Foods has a longstanding presence in the commonwealth, and its leaders' vision for the future will make the company a great fit for Bowling Green and the surrounding region." The company will build a 400,000-square-foot manufacturing facility in the Kentucky Transpark for production of Jimmy Dean and Wright Brand bacon. Company leaders anticipate construction will be complete in late 2023. "We are excited to be a part of the Warren County and Kentucky communities that will help us continue to provide the iconic Wright Brand and Jimmy Dean products our consumers and customers desire," said Noelle O'Mara, group president, prepared foods for Tyson Foods. "As people actively look to add more protein to their diets, Tyson is uniquely positioned as a category leader to meet that growing demand." To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $10 million in tax incentives based on the company's investment of $355.19 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, Tyson Foods 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. This story was posted on 2021-10-29 07:36:37
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COVID-19 News Brief & Vaccination Update 10/28/2021 Mostly cloudy today, high 58F 7-County Area Courts for Fri 29 Oct 2021 Low vaccination rates keeping Adair, Casey in the orange COVID-19 News Brief & Vaccination Update 10/27/2021 Wet and windy weather, high 64F 7-County Area Courts for Thu 28 Oct 2021 KSP promotes 26 officers into leadership roles KY awarded $1M federal grant to expand high-speed internet COVID-19 News Brief & Vaccination Update 10/26/2021 View even more articles in topic News |
 
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