My Report

Energy Related Industries

TVA has a power combustion and transfer station in Marshall County.

We have more employees in our 10-county labor shed in the following jobs than the average US labor shed by the following amounts:

Labor Shed

 

Natural Gas Pipelines

  • Trunkline Gas and Texas Gas have Transmission Lines in the area combining for over approximatley 6.1 million cubic feet of gas a day.

 

Two Electric Power Providers

  • We are served with electricity by TVA and Jackson Purchase Energy giving us some of the lowest electric power costs in the United States.

 

An Expanding Economy

Marshall County has seen more than $400 million in expansions of over 7 plants since 2012!  All the well-known companies below are spending significant dollars to expand in our community because they know how great it is to do business here:

  • In 2015 Ashland Chemical announced a $12,500,000 expansion
  • In 2014 Westlake Vinyls announced a $300,758,974 expansion
  • In 2014 Estron Chemicals announced a $4,900,000 expansion
  • In 2013 Gerdau Ameristeel US announced a $26,304,000 expansion
  • In 2013 Wacker Chemical Corporation announced a $27,400,000 expansion
  • In 2012 Lubrizol Advanced Materials announced a $39,200,000 expansion
  • In 2012 Sekisui Specialty Chemicals announced a $2,781,652 expansion

 

Engineering Talent

Our 10-county labor shed region is home to an abundant amount of engineers:

  • 149 Industrial Engineers
  • 145 Mechanical Engineers
  • 120 Chemical Engineers
  • 102 Civil Engineers
  • 47 Electrical Engineers
  • 30 Health & Safety Engineers
  • 24 Environmental Engineers

 

The University of Kentucky’s Center for Applied Energy Research

The University of Kentucky Center for Applied Energy (CAER) investigates energy technologies to improve the environment. Researchers contribute to technically-sound policies related to fossil and renewable energy. CAER is one of UK's multidisciplinary research centers. Research efforts are directed to:

  • coal beneficiation, utilization, and conversion process technologies
  • fuel use
  • coal combustion by-products
  • engineered fuels
  • derivation of high added-value materials and chemicals
  • renewable energy such as biofuels and bioenergy, electrochemistry, solar energy and environmental remediation.

Click here to view the courses in the program: http://www.caer.uky.edu/

 

Interstate Access

  • Interstate 24 (east-west) and Interstate 69 (north-south) intersect in the heart of our community.

 

Rail Access

  • We are served by the Paducah and Louisville Railway (P&L) which interchanges with the BNSF, CN, CSX, and NS Railroads.

 

 

Governor’s Cup

  • Kentucky ranked 1st in Site Selection magazine’s annual Governor’s Cup award, recognizing the highest number of qualifying industry locations and expansions per capita in 2014.

 

Taxes & Business Costs

  • CNBC ranked Kentucky the 2nd best state for the “Cost of Doing Business” in 2015

 

Incentives

Grants & Tax Credits

  • KBI Program
    • Wage Assessment- 4% of total payroll credit against state income taxes
    • Income Tax Credit- up to 100% of corporate income or limited liability entity tax liability arising from the project
  • KEIA Program
    • Sales/Use Tax Refund- Refund of sales & use tax paid for building & construction materials, research and development equipment, and electronic processing equipment.
  • Bluegrass State Skills Workforce Training
    • Grant Reimbursement- up to 50% matching reimbursement for in-house training; educational institution and consultant training; instruction materials, texts, and supplies; train-the-trainer travel; trainee wages and registered apprenticeship training-year one apprentices. The maximum funding for companies with 1-499 employees is $25,000 and $50,000 for companies with $500+ employees.
    • Tax Credit- up to 50% of training costs can be recovered as a state tax credit limited to $500 per Kentucky employed residents, not to exceed $100,000. Eligible costs include: in-house training; educational institution and consultant training; instruction materials, texts, and supplies; train-the-trainer travel; trainee wages and registered apprenticeship training-year two, three, and four apprentices.
  • Kentucky Wins In-Kind Training
    • In-kind training through the local community colleges which provides recruiting, screening, and training assistance.

Loan Programs

  • KEDFA- Click here to learn about this loan program: https://www.thinkkentucky.com/kyedc/pdfs/kedfadcp.pdf
  • IRBs- local financing mechanism for high impact projects. Additionally, a 5-year property tax abatement can be offered through this program.
  • CDBG- low interest loan financing for high impact projects.

 

Source of Business and Labor Numbers: The Next Move Group, LLC

 

Kentucky Lake Economic Development
in Marshall County
270.527.2009 • fx: 270.527.9896 • cell: 270.493.1958 • email
1101 Main Street • Benton, Kentucky 42025

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