Gov. Beshear Joins WPT Nonwovens To Cut Ribbon on New $19.5 Million Manufacturing Center in Ohio County, Creating 35 Jobs

Posted on by Michael Randle

BEAVER DAM, Ky. (Jan. 8, 2024) – Today, Gov. Andy Beshear joined local officials and leaders from WPT Nonwovens Corp. to cut the ribbon on the company’s new $19.5 million state-of-the-art manufacturing facility in Ohio County, a project that is creating 35 new well-paying Kentucky jobs.

“There has never been a better time to grow your business here in the commonwealth and take advantage of the many unique resources this great state has to offer,” said Gov. Beshear. “WPT is a homegrown success story showing the world that manufacturing is thriving in Kentucky. I am excited to see the company continue to grow here in Ohio County. I want to thank WPT’s leadership for their continued investment in the commonwealth and congratulate them on this exciting next step as a company.”

The $19.5 million capital investment includes a 75,000-square-foot manufacturing center with a state-of-the-art carded nonwoven production line, which adds more than 12,000 annual metric tons of capacity for HVAC filtration media and hygiene fabrics to the company’s manufacturing capabilities. The project initially began as a $10.7 million investment in 2021 and has since grown significantly in scale. WPT’s investment will create 35 quality manufacturing jobs and bolster the domestic supply chain for these product lines for many other Kentucky finished product manufacturers.

“WPT is excited to meet the growing demand for American-made nonwoven filtration media and even more excited to continue doing so in Ohio County and the incredible community of Beaver Dam,” said Travis Robbins, president of WPT.

Founded in 2008, the company is a third-generation family-owned nonwoven manufacturer located in Beaver Dam, Kentucky. WPT is 100% American-owned, FDA-registered and a service-disabled veteran-owned small business (SDVOSB). WPT’s key nonwoven focuses are in the medical, hygiene, filtration and industrial markets operating three production facilities in Ohio County, six nonwoven lines and five medical products converting lines.

Ohio County Judge/Executive David Johnston welcomed the expansion and noted the close relationship the company has with the local community: “With great pleasure and enthusiasm, we extend our heartfelt congratulations to WPT Nonwovens Corp. on the exciting news of its expansion! This landmark achievement is a testament to the unwavering commitment, exceptional service and strong community bonds that WPT Nonwovens Corp. has built over the years.”

Beaver Dam Mayor Paul Sandefur is looking forward to seeing the company continue to grow and find success in Ohio County: “Congratulations on this remarkable expansion! WPT Nonwoven Corp.’s commitment to quality, customer satisfaction and community engagement laid the foundation for this commendable achievement, and we look forward to their continued success and industry excellence in the years ahead.”

Jason Chinn, executive director of the Ohio County Economic Development Alliance, highlighted the important role the company plays in the local manufacturing sector and is excited about the opportunities the project will bring to the area: “As WPT Nonwovens Corp. embarks on this new chapter of growth, we applaud their dedication to providing outstanding products and positive contributions to our business community. This expansion signifies their success and brings more opportunities for Ohio County’s growing manufacturing ecosystem. The local business landscape is thriving, and WPT Nonwovens Corp. continues to play a pivotal role in its vibrancy.”

WPT’s investment and job creation build on the best four-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced nearly 1,000 private-sector new-location and expansion projects totaling over $28.7 billion in announced investments, creating 51,265 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.

The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $591 million investment in Scott County; and INFAC North America’s $53 million investment in Taylor County, among others.

The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings and S&P Global Ratings, and Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.

Site Selection magazine placed Kentucky first in the South Central region and top 5 nationally in its 2023 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear has also announced a “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority in May 2021 preliminarily approved an incentive agreement with the company under the Kentucky Business Investment program.

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.

For more information on WPT Nonwovens Corp., visit WPTnonwovens.com.

A detailed community profile for Ohio County can be viewed here. Team Kentucky

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Transportation and logistics company to invest $50 million in Botetourt County site, create 45 jobs

Posted on by Michael Randle

A Warren, Michigan-based transportation and logistics company will invest $50 million to open a new facility in Botetourt County, creating 45 new jobs.

Universal Logistics Holdings Inc. (NASDAQ:ULH) will spend the next year upgrading the 254,000-square-foot former Southern States building on U.S. 11 in Cloverdale and is expected to commence operations in 2025.

“Our expansion in the Roanoke region represents an exciting phase for Universal’s heavy truck division as we fortify our commitment to delivering top-tier services within the logistics and transportation sectors,” Universal CEO Tim Phillips said in a news release from the company.

Cardinal News

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New West India service to call Savannah

Posted on by Michael Randle

SAVANNAH, Ga. – Ocean Network Express will launch a new containership service between Savannah and West India in May 2024. The new offering will give the Georgia Ports Authority 10 services via the Suez Canal, with nine calling on the Indian subcontinent.

“ONE’s West India North America service recognizes a growing shift in global sourcing, with more manufacturers adding operations on the subcontinent,” said Griff Lynch, GPA president and CEO. “With the world’s largest population, India also represents a tremendous market opportunity for U.S. exporters. The Port of Savannah is strategically positioned to take advantage of this trend, providing more connections to India for supply chain flexibility.”

The new ONE announcement will give the Port of Savannah a total of 37 ocean carrier services to global destinations – the most of any port from the mid-Atlantic to the Gulf of Mexico.

India plays an increasingly important role in world trade, with an export volume of approximately $453 billion for merchandise, with an annual growth rate of 15 percent in 2022, according to World Trade Outlook and Statistics published by the World Trade Organization.

ONE’s new West India North America (WIN) service will offer a weekly route linking Hazira, Nhava Sheva, and Mundra to Savannah. The service will also call at Bin Qasim in Pakistan, as well as Damietta, Algeciras, and Jeddah, which offers further connection to Mediterranean destinations in combination with other services.

“At ONE, we strive to embrace and support our customers’ growth patterns. The rapid move of so many toward India is ripe for collaboration,” said Zach Connors, senior director and head of sales of ONE North America. “Our new WIN service is a flexible and dynamic product, designed to catalyze development of the India-North America market and beyond. Enhanced access to additional growing economies along this new route, by direct call and transshipment, will provide even further value to ONE’s partners in their pursuit of supplier/buyer diversification.”

The new service will feature a fleet of nine vessels, all of which are operated by ONE. In a statement, ONE said the independent nature of the WIN will provide reliability and flexibility to customers.

“At ONE, we have been committed to the India market since day one, and the new WIN is another milestone for our business,” said Apramapar Singh, general manager of India Marketing at ONE India. “Hazira container terminal is a gateway to the industrially vibrant belt of South Gujarat, North Maharashtra and Central India.”

The main commodities include consumer goods such as electronics, perishables, textiles and chemicals.

Service rotation
Bin Qasim – Hazira – Nhava Sheva – Mundra – Damietta – Algeciras – New York – Savannah – Jacksonville – Charleston – Norfolk – Damietta – Jeddah – Bin Qasim

About Georgia Ports:  Georgia’s ports and inland terminals support more than 561,000 jobs throughout the state annually, and contribute $33 billion in income, $140 billion in revenue and $3.8 billion in state and local taxes to Georgia’s economy. GPA anticipates investing $4.5 billion in the next ten years as part of its port master plan to expand cargo handling capabilities to support future supply chain requirements. As part of GPA’s community engagement efforts, $6 million will be donated to communities located near the Port of Savannah to support a multi-year, local workforce housing initiative. CNBC ranked Georgia #1 in the U.S. for infrastructure in America’s Top States for Business in 2023.    Area Development  – a site selection news outlet for the U.S., has ranked Georgia as the Top State to Do Business for ten consecutive years.  For further information, visit gaports.com or contact Chief Communications Officer Tom Boyd at tboyd@gaports.com or call (912) 964-3855.

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Crown Verity’s $9.7M expansion in Bowling Green will grow 73 jobs

Posted on by Michael Randle

FRANKFORT, Ky. —  Crown Verity USA Inc., a Canadian-owned grill and cookware maker, will expand its operation in Warren County with a $9.7 million investment, creating 73 Kentucky jobs.

The expansion will see the company increase its manufacturing capabilities and consolidate its fabrication operations to the Bowling Green location. The project will expand the facility by 5,000 square feet, which will bring the total operational space of the building to 65,000 s.f. and allow for additional equipment and workers.

“Crown Verity is excited to grow alongside the Bowling Green community. We are very appreciative of all the support from the state and local community,” said Andy Incitti, Crown Verity president. “Crown Verity started as a small distribution company, and now, over 32 years later, it’s grown to become one of the best outdoor grill manufacturers in the world, and we are thrilled to continue that tradition in Bowling Green.”

Crown Verity USA Inc. is a subsidiary of Crown Verity Inc., a leading manufacturer of high-performing outdoor commercial and residential cooking equipment that is based in Brantford, Ontario, Canada. The company has served the American and Canadian foodservice, industrial and home markets since 1990.

“Kentucky’s business-friendly ecosystem, prime location and access to resources make it an ideal destination for companies to locate, expand and thrive,” Gov. Andy Beshear said. “The decision by Crown Verity’s leadership to not only expand here but also consolidate the company’s fabrication operation in Kentucky is a testament to their trust and belief in what this great state has to offer.”

Warren County Judge/Executive Doug Gorman noted the positive impact the project will have on Bowling Green and the surrounding region: “This expansion will have a great economic impact in Southcentral Kentucky. We are grateful for businesses like Crown Verity that continue to invest in our community and our economy.”

Ron Bunch, Bowling Green Area Chamber of Commerce president and CEO, welcomes the company’s expansion and new job opportunities it will bring to the area: “It’s always exciting when a first-class company like Crown Verity surpasses their initial investment and job creation here in Bowling Green. The impact an additional 73 full-time jobs will have on Warren County will improve the quality of life for many in our community.” The Lane Report

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Manufacturer to invest $40M for new plant in Johnston County

Posted on by Michael Randle

One of the hottest counties in North Carolina is about to receive tens of millions of dollars in the form of a major economic development investment.

Wisconsin-based Scot Industries Inc., a supplier of tubing products, is investing at least $40 million to build a manufacturing facility on 77 acres in the Town of Four Oaks in Johnston County near the convergence of I-95, U.S. 301 and U.S. 701, according to a press release. The move will create 21 jobs with an average salary of more than $60,000.

Chris Johnson, economic development director for Johnston County, said in a statement Tuesday that the investment is due to Johnston County’s workforce, highway infrastructure and business-focused leadership.

“Our value proposition hasn’t changed,” Johnson said. “We still offer a formidable range of industrial assets in a competitive cost structure.” Triangle Business Journal

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VinFast’s billionaire founder takes CEO role

Posted on by Michael Randle

The owner and founder of VinFast is taking more control of the company as the Vietnamese electric vehicle maker tries to establish itself in the American market, including building a huge factory in Chatham County.

Billionaire Pham Nhat Vuong, founder of VinFast (Nasdaq: VFS) parent Vingroup, is now the CEO of VinFast, the company announced late Friday. Vuong replaces Le Thi Thu Thuy, who will transition to chairwoman of the VinFast Board of Directors. Triangle Business Journal

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Engine company Cummins plans $580M investment in North Carolina

Posted on by Michael Randle

A multinational engine company is pouring hundreds of millions of dollars into an Eastern North Carolina city.

Cummins Inc. (NYSE: CMI), a designer, manufacturer and distributor of engines and generators, says it will invest $580 million into its Rocky Mount facility off Highway 301, the company announced Monday. The move will help Cummins work towards its long-term goal of emitting zero carbon emissions across its products, as the investment will go to installing new equipment and upgrading the assembly line “for next generation products,” the company said in a press release.

Cummins said the move will create roughly 80 jobs. The Nash County Board of Commissioners approved incentives for the project at a meeting Monday morning. Per an agenda item for the meeting, the county is appropriating the company 50 percent of the net increase in ad valorem taxes as a result of the company’s investment between April 2026 and April 2032. That appropriation will total roughly $7 million. Triangle Business Journal

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Amazon buys 430 acres in Covington, but remains vague about its plans

Posted on by Michael Randle

An Amazon.com Inc. subsidiary has acquired 430 acres in Covington, Georgia, according to property records.

Amazon Data Services Inc. paid $36 million for the property about 40 miles east of Downtown Atlanta on Interstate-20, the records show. It assembled the site in three separate transactions that closed Dec. 22.

Amazon is investing where other developments are clustering. Just west of its site is Cinelease Studios, a large media campus. About 10 miles away is the planned $5 billion Rivian Automotive Inc. factory and Meta Platform Inc.’s massive data center campus. I-20 has been called one of the country’s most affordable high-tech corridors, according to a 2023 report. Atlanta Business Chronicle

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United Launch Alliance launches first next generation Vulcan rocket in Florida: ‘An exciting new era’

Posted on by Michael Randle

United Launch Alliance successfully launched its next generation Vulcan rocket early Monday morning, the organization announced.

The rocket was launched at 2:18 a.m. on Monday from Space Launch Complex-41 at Cape Canaveral Space Force Station in Florida to mark what the ULA described as “the beginning of a new era of space capabilities.”

The Vulcan provides “industry-leading capabilities to deliver any payload, at any time, to any orbit,” the company said in a news release announcing the launch.

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“Vulcan’s inaugural launch ushers in a new, innovative capability to meet the ever-growing requirements of space launch,” ULA president and CEO Tory Bruno said. “Vulcan will provide high performance and affordability while continuing to deliver our superior reliability and orbital precision for all our customers across the national security, civil and commercial markets. Vulcan continues the legacy of Atlas as the world’s only high-energy architecture rocket.”

ULA said the rocket will leverage the world’s highest-performing upper stage to deliver on the company’s “industry-leading legacy” of reliability and precision. Its flexibility and endurance enable complex orbital insertions within the most challenging and clandestine orbits.

READ ON THE FOX BUSINESS APP

“The successful development and flight of this evolutionary rocket is a true testament to the unrivaled dedication and ingenuity of our workforce,” Vulcan Development vice president Mark Peller said. “Vulcan’s purpose-built design leverages the best of what we’ve learned from more than 120 combined years of launch experience with Atlas and Delta, ultimately advancing our nation’s space capability and providing unprecedented mission flexibility.”

JEFF BEZOS’ BLUE ORIGIN SUCCESSFULLY COMPLETES FIRST NEW SHEPARD FLIGHT SINCE GROUNDING

The flight served as the first of two certification flights required for the U.S. Space Force’s certification process, ULA said. The second certification mission is scheduled to launch in the coming months and another launch of the first Vulcan mission to support national security space will be held in the summer.

ULA has sold more than 70 Vulcan launches thus far, including 38 missions for Amazon’s Project Kuiper and multiple national security space launch missions as part of the United States’ Phase 2 launch procurement.

Original article source: United Launch Alliance launches first next generation Vulcan rocket in Florida: ‘An exciting new era’

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Largest project yet could be coming to Port St. Lucie, but it remains shrouded in secrecy

Posted on by Michael Randle

PORT ST. LUCIE — A nearly 133-acre development could be coming to Southern Grove, the largest chunk of land within the area that already boasts major companies such as FedEx and Amazon.

As with other companies that have been lured to Port St. Lucie, this one has not been identified publicly, but its code name hints at its scope: Project Everest.

Adding to the secrecy and intrigue, a map included in city documents appears to show Project Everest includes a smaller area previously assigned to another code-named project: Project Apron. City documents also mention Project Green in connection with Project Everest.

The city approved site plans for Project Apron and Project Green in 2022. Each was to exceed 1 million square feet.

Details and impact of Everest

While the ultimate occupant of the land remains a closely guarded secret, documents shed some light on what could be coming.

The unidentified company is publicly traded, 40 years old and is on the Fortune 50 list. It is an international wholesaler, distributor and retailer that exceeds $200 billion in annual revenue. It has more than 300,000 employees worldwide with more than 800 locations supplied by 24 depots, according to an executive summary prepared for the city by the Economic Development Council of St. Lucie County.

The Economic Development Council projects the company would create 265 jobs with an average wage of $55,350 plus benefits. Total economic impact of construction is estimated at nearly $85 million, while the impact of the new jobs is estimated at about $198 million annually.

Two city votes on Monday

The city is to hold two votes Monday related to Project Everest.

At 11 a.m., the Government Finance Corp. — which comprises city councilmembers — is to vote on the sale of about 133 acres of city-owned land to developer JDN Enterprises for about $16.24 million.

At the same time, the city has plans to approve giving the buyer an infrastructure credit of almost $18.7 million to facilitate infrastructure development. The buyer is agreeing to fund infrastructure improvements as part of an agreed “Road Project” in excess of that credit, and plans to borrow $11,357,156.98 to do so, according to a draft of the contract.

Then, at 1 p.m., the City Council plans to vote on a package of tax breaks. In years one through five, the company would be exempt from all ad valorem taxes to the city and to St. Lucie County. In the sixth year that exemption drops to 90%, then to 80% in year seven, 60% in year eight, 40% in year nine and 20% in year 10.

The company also would be given a five-year grant of $2,100 per new employee by the county and a $3,500 per new job impact and mobility fee waiver by the city.

More: Port St. Lucie ready to spend $16 million for new Public Works Department building

More: 2024 could bring resolution to the ongoing legal battle between Port St. Lucie, Waste Pro

Expanding Southern Grove

Southern Grove is a 3,605-acre stretch of land acquired by the city in 2018. The city quickly made plans for what it dubbed its jobs corridor, splitting the land up into separate plots. In addition to industrial sites already in operation, the city has plans for commercial, retail and entertainment development in the future, according to its master plan.

The Project Everest property is a combination of several of those original lots.

The City Council meeting will be the first of the new year, and the first held under a new schedule.

Wicker Perlis is TCPalm’s Watchdog Reporter for St. Lucie County. You can reach him at wicker.perlis@tcpalm.com and 504-331-0516.

This article originally appeared on Treasure Coast Newspapers: Port St. Lucie to vote on land sale, incentives for a new development

 

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