During the Kentucky Economic Development Finance Authority’s (KEDFA) regular monthly board meeting, held on Thursday, October 31st these projects in the Greater Louisville region received preliminary approval for funding.
Whelan Machine & Tool, LLC
· Project Overview: Founded in 1989, Whelan Machine & Tool, LLC is a veteran-owned small business based in Louisville delivering precision-machined products and services to a diverse range of clients. The company is considering expanding operations in Jefferson County. Whelan Machine & Tool, LLC was preliminarily approved for $400,000 in tax incentives through the Kentucky Business Investment (KBI) program and $40,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA) program.
· Investment: $5.7 million
· Location: Louisville, KY
· Job Creation: 30 with an average hourly wage target of $31.80, including employee benefits.
Kuehne + Nagel Inc.
· Project Overview: Kuehne + Nagel Inc. is a 130 year old company that has evolved from a traditional shipping company to a global logistics supply chain organization that offers highly specialized solutions for major industries worldwide. The company is considering locating in Shelby County. Kuehne + Nagel Inc. was preliminarily approved for $6.5 million in tax incentives through the KBI program and $200,000 in tax incentives through the KEIA program.
· Investment: $75.5 million
· Location: Shelbyville, KY
· Job Creation: 355 with an average hourly wage target of $29.09, including employee benefits.
Mydatt Services Inc. DBA Block by Block
· Project Overview: Since 1995, Mydatt Services Inc. DBA Block by Block work to make downtowns cleaner, safer, and friendlier with janitorial and security services. The company is considering expanding the headquarters operations in Jefferson County. Mydatt Services Inc. was preliminarily approved for $300,000 in tax incentives through the KBI program.
· Investment: $1.1 million
· Location: Louisville, KY
· Job Creation: 25 with an average hourly wage target of $37.80, including employee benefits
Medvantx, Inc.
· Project Overview: With solutions ranging from Pharmacy Services to Patience Assistance Programs and Direct-to-Patient Delivery, Medvantx emphasizes equity in healthcare, partnering with top pharmaceutical manufacturers. The company is considering expanding operations in Jefferson County. Medvantx, Inc. was preliminarily approved for $1.4 million in tax incentives through the KBI program.
· Investment: $26.9 million
· Location: Louisville
· Job Creation: 122 with an average hourly wage target of $35.22, including employee benefits
We are excited about the opportunities that these projects will bring to the Greater Louisville region. We will keep you apprised as additional details are announced.
For additional details on our region’s economic development efforts, please visit our partnership website at Greater Louisville Partnership Website or follow us on LinkedIn at Greater Louisville Partnership LinkedIn Page.