With $1.76 million-plus investment, advanced manufacturer will position for future growth
Contact: Woody Maglinger
FRANKFORT, Ky. (Sept. 5, 2017) – Gryphon Environmental LLC, which makes industrial drying systems for food processors, paper manufacturers, the municipal wastewater treatment market and other industries, will invest more than $1.76 million and create 20 full-time jobs as it moves to a larger facility within Owensboro, Gov. Matt Bevin announced today.
“Gryphon Environmental’s investment and new job creation represents the kind of opportunity our administration seeks to create by improving Kentucky’s business climate,” Gov. Bevin said. “This is a win for both the company and the Owensboro area. As a designer, producer and supplier of advanced manufacturing equipment, Gryphon’s success will encourage and facilitate growth among other Kentucky industries in the future.”
Gryphon, currently located on Fairview Drive in Owensboro, plans to lease a larger facility to increase production and more than triple its workforce from nine employees to 29. The relocation also gives Gryphon space to grow in the future.
“We are pleased to plan growth and work with the Commonwealth of Kentucky. The state has been a positive promoter of Gryphon and continues to show the support that enables more rapid expansion,” Gryphon president and CEO Tid Griffin said.
Griffin founded the company in 2007 to design and manufacture high-tech automated drying systems. Customers use its products in processing material in food, beverage, biomass, municipal wastewater treatment, agricultural and other industries. Gryphon sells its systems to customers across the U.S. and internationally, including Canada and South Africa.
The past decade, Gryphon worked closely with the Cabinet for Economic Development’s Kentucky Innovation Network, receiving guidance, planning, mentorship and other services in addition to a business loan approved by the Kentucky Economic Development Finance Authority (KEDFA) in 2009.
Sen. Joe Bowen, of Owensboro, noted the company’s impact on the local economy.
“Gryphon Environmental is a bright shining star in the Owensboro community, and I am pleased the company chose to increase its investment in our region,” Sen. Bowen said. “The creation of new jobs is always welcome news, and I wish Gryphon Environmental the best in its future endeavors.”
Rep. Suzanne Miles, of Owensboro, said the project reflects the commonwealth’s effective economic development strategy.
“I am thrilled Gryphon Environmental is moving to a larger facility in Owensboro, which will result in additional jobs and investment in our local economy,” Rep. Miles said. “Like many other industries across the nation, Gryphon recognizes the enormous opportunities Kentucky presents for growing your business in an environment that promotes and implements smart economic policies.”
Owensboro Mayor Tom Watson praised the company’s growth and commitment.
“The City Commissioners and I are proud to support the expansion of Gryphon Environmental in Owensboro,” Mayor Watson said. “It’s a thrill to see one of our Innovation Network companies mature to the place where they qualify for state incentives as they grow. They are a true model for this program.”
Daviess County Judge-Executive Al Mattingly welcomed the new investment.
“We are happy to have Gryphon Environmental in our community and delighted to see them grow and thrive,” Judge Mattingly said.
To encourage the investment and job growth in the community, KEDFA in August 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 agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, Gryphon can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2016, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.
For more information on Gryphon, visit www.2gryphon.com.
A detailed community profile for Daviess County can be viewed at http://bit.ly/DaviessCoKy.
Information on Kentucky’s economic development efforts and programs is available at 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.