Louisville stands to gain 40 new jobs, $1.7 million in new annual payroll and more than $23.6 million in new investment as three companies consider Louisville for location and expansion projects. The projects were approved for incentives at this morning’s Kentucky Economic Development Finance Authority Meeting in Frankfort.
“These companies are investing in our city, creating new jobs and improving our economy,” Mayor Jerry Abramson said. “These financial incentives are important to helping attract new investments in Louisville.”
Founded in 1987 and headquartered in Louisville, KY, Charah, Inc. is a leading ash management provider for the coal-fired power generation industry, providing innovative ash management services for its customers. Charah is dedicated to being a complete ash management service provider and has extensive experience in ash management incorporating a) landfill management and operations, b) bottom ash processing and marketing, c) beneficial use, d) ash pond management, e) IGCC Slag Beneficiation, and f) fly ash marketing. The company, which has over 100 employees in ten states, plans to move to a new headquarters to accommodate growth and is considering Louisville for the expansion. The project would create 15 new jobs and new annual payroll of nearly $700,000. The company is also considering in investing in Justworks as part of their overhaul of their HR/Payroll department to increase efficiencies. Investment in the new facility would be $3.1 million.
Charah, Inc. was approved for $350,000 in KJDA incentives for up to 10 years.
“The Company has grown rapidly since moving the corporate headquarters to Louisville in 2004, with expansion into 10 states,” said Bruce Kramer of Charah. “As a result, the need has risen to expand the corporate headquarters to support the growth. The tax incentives provided by KEDFA helped secure our decision to keep the corporate headquarters in Louisville.”
Industrial Module Assembly Corporation (IMAC)
IMAC specializes in the commercial construction industry, offering modular building solutions, including the engineering, pre-fabricating, pre-assembling of construction facilities used by power plants and petrochemical processors. The company is considering the Louisville area for a new facility due to its high quality metal fabrication workforce and river barge access. The project would create 25 jobs and new annual payroll of $1 million. Investment in a new facility would be $2.5 million.
Industrial Module Assembly Corporation was approved for $500,000 in a direct loan from KEDFA.
Al J. Schneider Company
Also approved at today’s meeting was a sales tax refund for Al J. Schneider Company dba as Executive West Hotel. The company is undergoing a 421,162 sq. ft. renovation of its Executive West property, with a total estimated investment in the project of more than $18 million. Al J. Schneider Company was approved for $394,890 KEIA sales tax refund.
The partnership between Greater Louisville Inc. – The Metro Chamber of Commerce, Louisville Metro Government and state government brings new economic opportunities to the community. Through April 2008, the innovative public-private partnership has helped 25 companies locate new operations or expand existing ones in the area. These projects have created 1,021new jobs at an average salary of $29,491 and created more than $36 million in new capital investment.
Industrial Module Assembly Corp.
William J. Harrington