My Report

Transportation Related Industries

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

 

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

 

Interstate Access

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

 

 

Inland Waterway System

  • We are located on the Tennessee River which provides nearby maritime access to the Ohio, Mississippi, and Cumberland Rivers. This inland waterway access provides us river access to New Orleans, Memphis, Mobile, Nashville, Louisville, Cincinnati, St. Louis, Pittsburgh, and many additional cities.

 

 

Rail Access

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

 

Skilled Labor

  • Our 10-county labor shed is home to the following numbers of skilled workers:
    • 2,449 Heavy and Tractor-Trailer Drivers
    • 1,945 Freight, Stock, and Material Movers
    • 817 Captains, Mates, and Pilots of Water Vessels
    • 604 Light Truck or Delivery Service Drivers
    • 584 Sailors and Marine Oilers
    • 497 Industrial Truck and Tractor Operators
    • 417 Packers and Packagers
    • 357 Bus and Truck Mechanics and Diesel Engine Specialists
    • 292 Automotive and Watercraft Service Attendants
    • 158 Ship Engineers
    • 79 Transportation, Storage, & Distribution Managers
    • 56 Rail Car Repairers
    • 41 Logisticians

     

 

Unskilled Labor

  • There are 1,277 people employed through temporary staffing agencies in our labor shed.

 

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.

 

University Programs to Support Transportation Related Industries

A number of College & University programs abound in close proximity to Marshall County to support the Transportation Related Industries cluster:

  • Murray State & West Kentucky Community and Technical College have combined to create a 4-year Logistics and Supply Chain Management degree. Additionally, West Kentucky Community and Technical College offers a 2-year Associates degree in the field.
    Murray StateWKCTC
  • Vanderbilt University is home to the VECTOR Center, a research center which specializes in transportation research related intermodal freight transportation, risk assessment, GIS, and intelligent transportation systems.

    Vanderbilt University

  • University of Kentucky has an MBA program with a focus on supply chain management/logistics.

    University of Kentucky

  • University of Louisville has a certificate program in purchasing/supply chain management.

    University of Louisville

 

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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