Snack food company to bring more than 300 jobs to Versailles
More Than A Bakery, an Indiana-based company making cookies, crackers and other items for sale by major companies, announced Thursdayafternoon that it will build a $57.1 million plant on Big Sink Pike.
A news release from Gov. Matt Bevin’s office said construction on the 250,000 to 300,000 square-foot building is scheduled to begin this summer. The building will eventually employ 310 people and “be operational,” according to the release, by the end of 2017.
More Than A Bakery received preliminary approval Thursday from the Kentucky Economic Development Finance Authority (KEDFA) for up to $8 million in Kentucky Business Investment tax incentives. The performance-based program allows companies to receive corporate income tax credits and wage assessments. KEDFA also approved $700,000 in sales and use tax rebates for construction costs and equipment used in research and development.
At Friday morning’s meeting of the Woodford County Economic Development Authority, chairman John Soper noted, “We’ve still got to get through the hurdle of planning and zoning,” but expressed no doubt about that prospect.
Soper said More Than A Bakery and American Howa Kentucky, which is coming to Midway Station this year, will eventually bring $350,000 in tax revenue “straight to the school system.”
Soper thanked all the public officials involved in the recruitment and said, “Based on the figures we’re given, we’re talking about an $8 million payroll from these two companies …”