Kentucky Governor Steve Beshear on Jan 29 announced that KapStone plans to expand its corrugated products facility in Bowling Green, Kentucky. KapStone is expected to create up to 30 new jobs and invest $4.5 million into the project.
“This announcement is a demonstration that KapStone Container continues to build on its growth as a leading national manufacturer in its field,” said Gov. Beshear. “We’ve worked hard with our community partners to make southcentral Kentucky attractive to businesses, and that work is paying off. I’m proud of the new jobs and such a significant investment here in Bowling Green.”
KapStone plans to modernize the plant and upgrade equipment. New machinery will allow the company to increase production to satisfy customer demand and take on new contracts.
To encourage the investment and job growth in Warren County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $400,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.