Monday, 07 01, 2013
Company to add third manufacturing facility; invest $3.6 million in the project
WINCHESTER, Ky. – Governor Steve Beshear today joined company and local officials in Winchester to break ground on an expansion for J&T Munitions, doing business as J&T Distributing. The company plans to add 15 full-time jobs and invest more than $3.6 million in the Commonwealth.
“We’re glad to see J&T Distributing add 15 new jobs and invest $3.6 million in this expansion in Winchester,” said Gov. Beshear. “This expansion shows the company’s dedication to remain a leader in a highly competitive industry.”
Established in 1980, J&T Distributing manufactures high-quality firearm parts and accessories for firearm manufacturers, commercial markets and law enforcement markets across the United States. The expansion includes the addition of a third manufacturing facility on Fortune Drive, joining current locations on Tech Drive and Bybee Road in Winchester, which have a combined total of about 50 employees.
“Building this new facility is a dream come true,” said J&T Distributing Chief Financial Officer Stacy Starnes. “The J&T family of companies strives to expand business while helping our community. This venture accomplishes both. With new technology and room to grow, the J&T family of companies will be poised to increase our market share as well as our workforce. This groundbreaking is the beginning of an exciting future.”
To encourage the investment and job growth in Winchester, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $200,000 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.
KEDFA also approved J&T Distributing for tax benefits up to $50,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
“J&T Distributing’s $3.6 million investment to expand its operations in Winchester is very good news for our community,” said Sen. R.J. Palmer, of Winchester. “We will continue to reap the rewards of good jobs¬¬ – as well as additional jobs – and positive economic growth. I am proud to have J&T in Winchester and thank them for their investment in our community. I congratulate them on their continued success and applaud our workforce for meeting their needs.”
“J&T Distributing has been an outstanding corporate neighbor to Winchester and Clark County, thanks in large part to their employees and the outstanding work they do in the firearms manufacturing industry,” said Rep. Donna Mayfield, of Winchester. “I firmly believe it’s our workforce and the high-quality products they help manufacture as the reasons that J&T chose to expand its operations in our community.”
“J&T Distributing has been a longtime employer in our community, and to see them continue to grow and succeed and create jobs is quite fulfilling,” said Winchester Mayor Ed Burtner. “Winchester and Clark County are fortunate to have this important family-owned business that shines such a positive light on what being an entrepreneur is all about.”
“It is exciting to be part of another important announcement regarding job creation here in Clark County, especially when it comes from one of your own homegrown businesses,” said Clark County Judge-Executive Henry Branham. “We are all proud of what the Starnes family has accomplished with this, their second expansion and third building. Their entrepreneurial spirit embodies what economic development is all about.”
For more information on J&T Distributing, visit www.jtfoc.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” video on YouTube.
A detailed community profile for Winchester (Clark County) can be viewed at http://www.thinkkentucky.com/community.aspx?county=Clark.