A deal to bring a new manufacturing facility to Boone County is practically in the bag.
Coating Excellence International, a Wisconsin-based flexible packaging company, plans to open a facility on Aviation Boulevard in Hebron early next year. The company will manufacture bag liners for pet food at the plant.
"It's a good location for us," Mike Nowak, the company's president, said. "We have customers all over the Southeast and we can get to almost all of the locations we need to in one day."
Coating Excellence International was awarded a $1 million Kentucky Industrial Development Act (KIDA) incentive earlier this year and was recently offered an economic development bond of $250,000, which would be deducted from the original incentive.
KIDA incentives are usually recouped through a waiver of state corporate income tax liability or the retention of 3 percent of the gross wages of new employment generated by the project. The bond offer allows the company to use funds immediately to defray costs associated with opening the new facility.
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