FRANKFORT, Ky. (Jan. 29, 2015) – Governor Steve Beshear today announced KapStone Container Corporation plans to expand its operations in Bowling Green.
KapStone, which manufactures paper packaging containers, is expected to create up to 30 new jobs and invest $4.5 million into the project.
“Today’s announcement is a demonstration that KapStone Container continues to build on its growth as a leading national manufacturer in its field,” said Gov. Beshear. “We’ve worked hard with our community partners to make southcentral Kentucky attractive to businesses, and that work is paying off. I’m proud of the new jobs and such a significant investment here in Bowling Green.”
KapStone plans to modernize its facility and upgrade equipment. The new machinery will allow the company to increase production to satisfy customer demand and take on new contracts.
KapStone Container is a subsidiary of KapStone Paper and Packaging Corporation. The company is a leading producer of unbleached Kraft paper and corrugated packaging products. KapStone employs 4,500 workers throughout the country. The Bowling Green facility opened in 2001 and has 112 full-time employees. KapStone also has facilities in Somerset and Lawrenceburg.
“Congratulations to KapStone Container Corporation. This is an example of southcentral Kentucky's business-friendly climate,” said Sen. Mike Wilson, of Bowling Green. “It is welcome news. I know I join our Bowling Green officials in the excitement of this expansion.”
“Bowling Green has seen tremendous economic growth in the last few years, whether it be new businesses locating to the area or existing companies like KapStone deciding to expand operations,” said Rep. Jim DeCesare, of Bowling Green. “Today’s announcement is proof positive of the outstanding economic climate and high quality workforce Bowling Green and Warren County offer to industries.”
“This is great news for our community and the families who will benefit from these jobs,” said Rep. Jody Richards, of Bowling Green. “I want to thank KapStone Container for taking this step and strengthening its roots here. It’s further proof that Bowling Green and Warren County are second-to-none in drawing economic development.”
“KapStone has been a partner in the Bowling Green business community for 14 years, and we’re pleased to see them continue to grow,” said Bowling Green Mayor Bruce Wilkerson. “We appreciate KapStone and wish them many more years of continued success.”
“We are fortunate to have a company like KapStone that continues to grow in southcentral Kentucky as it shows a distinct commitment to the future workforce,” said Warren County Judge Executive Mike Buchanon. “I would like to congratulate KapStone on this expansion and, on behalf of southcentral Kentucky, extend my sincere thanks for their commitment to this community”.
To encourage the investment and job growth in Warren County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $400,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
A detailed community profile for Bowling Green (Warren County) can be viewed here.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2015 totaled a state record $5.1 billion, spurring more than 16,000 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.