Glasgow Daily Times, Glasgow, KY

Local News

July 1, 2011

Apace creating 35 new jobs

TOMPKINSVILLE — More jobs are coming to Monroe County thanks to the expansion of a Fountain Run pharmaceutical packaging and distribution company.

Apace Packaging LLC located on Ky. 100 in Fountain Run will create 35 new full-time jobs with a $5.15 million expansion, which will involve the addition of approximately 17,000 square feet to its existing 35,000 square foot facility to incorporate a new packaging line, maintenance shop and office space.

“We are very excited about the expansion and what we have to look forward to,” said Dennis Shirley, president of Apace.

A formal announcement regarding the plant’s expansion was made Thursday afternoon. Attending the event was Gov. Steve Beshear, as well as several other state and local dignitaries.

“As exciting of a day it is for you all, it is just as exciting for me as governor and for the rest of this commonwealth because every part of this state needs to do well and then this whole state will do well,” Beshear said. “We’ve been working very hard all across Kentucky to make sure every part of the state does well and creates jobs and gets our people to work.”

The governor described the state and national recession as being “historic.”

“It’s been a struggle for a lot of folks, not just in Kentucky but really all over the United States,” he said. “My main challenge as governor has turned out to lead this state through the most historic recession of our lifetime.”

About two years ago the governor, along with the state legislature, revamped the state’s industry incentive packages in an effort to help Kentucky companies grow.

“Up until that time we had a lot of tools in our tool box to work with a company in Illinois or Indiana or some other place and to try to entice them to Kentucky, but we really couldn’t do anything for our own Kentucky companies. Folks that were already here. Folks that were already employing Kentuckians. Folks that had already invested in our state,” he said. “If they wanted to expand and they wanted to grow and they wanted to employ more people, we really didn’t have any programs to work with them and cause that to happen.”

The state’s industry incentive packages were changed so state officials had the flexibility to work with existing businesses as well as new businesses, he said.

“That’s one of the reasons we are able to stand here today and make this exciting announcement,” the governor said.

Beshear’s visit on Thursday was the first time a Kentucky governor had visited the small town since former Gov. Martha Layne Collins’ visit, said Steve Eaton, mayor of Fountain Run.

“We are very proud that Apace is in our community and we’re proud of their achievement and success,” Eaton said. “We’re proud of their achievement and success. It means a lot to our community.”

The Kentucky Economic Development Finance Authority approved Apace for tax incentives of as much as $840,000 through the Kentucky Business Investment program.

The performance-based incentive allows the 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, according to a press release from the Bowling Green Area Chamber of Commerce.

Monroe County participates in the chamber’s Menu of Services program, which markets the 10 counties in the Barren River Area Development District.

Because of the partnership between the county and the chamber, the chamber’s economic development team supported Apace and local officials in the expansion project process, collaborating on plans for the project and incentive requests, the press release stated.

Another expansion project is possible, depending on whether the company qualifies for additional tax incentives, he said.

“Hopefully, we will be able to apply again in the future,” Shirley said.

The company currently employs 43 people.

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